Mike Norman Economics

I saw a recent post by the WikiLeaks Twitter account which referred to the corporate media as “the narrative business pretending to be in the news business,” which is in my opinion a perfect way to phrase it. The real currency of the world is not gold, nor is it bureaucratic fiat, nor even raw military force; it’s narrative control. The ability to control the stories people tell about what’s going on in their world means the ability to control how they think, how they vote, how they behave,...

Moon of AlabamaLes Déplorables Demand The Fall Of The Regime Oriental ReviewMI6’s Spymaster Revealed How The UK Is Conducting “Fourth Generation Espionage” Andrew Korybko | American political analyst and journalist for Sputnik studying at the Moscow State University of International RelationsSouthFrontUS Analysts: Russian Electronic Warfare Systems Deployed In Syria Allow Assad To Carry Out Chemical AttacksSouthFrontRussia Comments On U.S. Accusations Over Aleppo Chemical Attack, Says...

Crop circles on MNE's, some of you are going to be appalled, but wait, just look at the fascinating geometry in these formations which 'square the circle ' in simpler ways than our mathematicians have ever done, well, at least, that's what the researcher in the video says?It's a real shame about the stupid alien crop circle with the stupid message, though, I wish they had left that out. And yet, it's quite complicated, it says in the second video, and would be difficult to make with bits of...

This is a repost by Socialist Economist of an earlier article by Nick Johnson. If you didn't catch it here at MNE the first time, here it is again. If you did, well, it's more evidence of MMT getting media exposure.Socialist EconomistModern Monetary Theory and Inflation – Anwar Shaikh’s Critique Nick Johnson, The Political Economy of Development

Stephanie Kelton tweet explaining the basis of MMT. Some keeper quotes.Political RealityDr. Kelton tweet thread on issuing money Zap

Dean Baker argues that what the president considers a winning deal with China is a good deal for US transnational corporations but a bad deal for American workers. Moreover, it only s good deal short term for corporations and likely a bad deal longer term. What Baker doesn't mention is that the hardline approach to China that the Trump administration is taking on all levels is looked upon in China as must more Western humiliation of the oldest continuous civilization on the planet. The...

No, this is not the Onion.Can't even spell the name "Modern Monetary Theory" right. OK, finance and economics is hard, but spelling?Columbia Daily TribuneModeren [sic] Monetary Theory is unsustainable hypocrisy Craig A. Van Matre, retired attorney formerly with Van Matre, Harrison, Hollis and Taylor

Bill Black says Deutsche Bank is a criminal outfit; it's shareholders lose money while it's CEO's take in millions. The bank could trigger the next recession, says Bill Black. [embedded content] Professor of Economics and Law, William Black, who was a top regulator in the S&L crisis, says, “Deutsche Bank is one of the potential sources of the next recession, and you can see lots of people warning that there are signs that a serious recession is pretty likely relatively soon. . . . The...

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A complement of Thomas Piketty's Capital in the 21st Century. The principal point is that competition is the driver of capitalism as companies strive in the marketplace to achieve efficiency and effectiveness in anticipating and meeting demand. When competition decreases, the engine fails to function as an evolutionary force. This is hardly a new idea. See "What Is Monopoly Capital?" by  John Bellamy Foster and "Monopoly Capitalism" by Paul M. Sweezy. But the authors of The Myth of...