Mike Norman Economics

I attempted to link directly to the source of the post, which ZH crossposted, but got the message that the site''s bandwidth limit had been exceeded. Apparently MMT is going viral. AOC is a big deal. She has changed the national conversation.The "criticism" is pretty standard, from the gut rather than the head. Dealing with the truth is hard.Zero HedgeThe Disturbing Rise Of Modern Monetary Theory (MMT)Mark Jeftovic via Guerilla-Capitalism.com

Strain and Veuger never try to meet the burden they set for themselves with their frenzied rhetoric. The key test of a theory’s validity is its predictive ability. A theory that is so weak that it is a “joke” made by “luna[tics]” should collapse as soon as its predictive ability is tested. What predictive failures do Strain and Veuger demonstrate MMT scholars have made? None. What predictive failures do they attempt to show MMT scholars have made? None. That failure even to attempt...

Things seem to come in cycles. We have been at this for some years now – trying to articulate the principles of Modern Monetary Theory (MMT) in various ways in various fora. There is now a solid academic literature – peer-reviewed journal articles, book chapters in collections, and monographs (books) published by the core MMT group and, more recently, by the next generation MMT academics. That literature spans around 25 years. For the last 15 odd years (give or take) there has been a growing...

[embedded content] We spend an inordinate amount of time thinking about, and in various ways ‘styling’ our hair. It’s not entirely silly; we’re trying to tell the world – through the language of keratin strands – about who we are.

The neocon metamorphosis is nearly complete as many of the neocons, who started out as Democrats, have returned home, where they are being welcomed for their hardline foreign policy viewpoint. Philip Geraldi seems to making the mistake, as some people on the right do, of equating all liberals as evil, conflating those, say, who run the porn and gambling industry with those who are evirenmentalists, the trade unionists, the LBGT community, the left, the psychological profession, etc....

Next installment. Clint invites comments and constructive criticism pre-publication.Clint Ballinger1000 Castaways, Chapter 2: System Two

More about Blanchard than MMT but worth a read since it provides more evidence that MMT is getting noticed — and attacked by the mainstream (read Establishment). Both are positive signs. When they can no longer ignore you, they attack you.. Naked KeynesianismFunctional Finance, MMT and Blanchard's Presidential Address Matias Vernengo | Associate Professor of Economics, Bucknell UniversitySee also Below the text of the first Godley-Tobin Lecture by James K. Galbraith. A global...

In most ways, Modern Monetary Theory—Functional Finance—is just macroeconomic common sense: We do not like high unemployment. We do not like excessive inflation. Thus the government should make it its first priority to use its tools of economic management so that we do not experience either. And maybe the government needs to be a little bit clever in how it uses fiscal and when and how it uses monetary policy to keep the task of financing the national debt from becoming an undue or even...

Gordon Dimmack explains why Luke Harding of the Guardian has been writing loads of lies and falsehoods about Julian Assange. It's because when Assange has to leave the Ecuadorian Embassy, the UK police will be able to hold him for enquiries, and then the next thing you will know, he would have been whipped off to the U.S.And everyone in the U.K will go about their daily affairs not knowing anything had been done wrong, trusting the authorities. [embedded content]

Everything is mixed up, I'm in the left but I wanted Trump to win. My liberal leftie friends were appalled. I went to an anti-war play held at a Quaker Meeting House, and I told them that Trump was better than Hilary and they looked at me as if I was mad.This conservative thinks that Alexandria Ocasio-Cortez would be good for America. [embedded content] Alexandria Ocasio-Cortez, a freshman Congresswoman from New York, is a really big deal. She has become a hate object for conservatives,...