Mike Norman Economics

I was going to write about Jamaica today but this topic emerged that I thought I should deal with before I write about the home of reggae. In fact, some of the material is input into a reasoned discussion about Jamaica so it logically precedes it. With the increasing profile of Modern Monetary Theory (MMT), social media activists are wont to talk about MMT in various ways that, in many cases, do not bear resemblance to our work. But that doesn’t stop them claiming things about what we have...

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Modern Monetary Theory (MMT), which strives to explain macroeconomics in nations with sovereign, fiat currencies, represents a radical departure from conventional wisdom, making it a lightning rod for criticism. After spotting the headline in The National—“Hot new economic theory is just one piece of the puzzle”—I had some hope that Gordon MacIntyre-Kemp’s analysis would be rigorous and perhaps thought-provoking. My optimism was crushed just a couple of dozen words in, and the cringes...

Hyman Minsky quote.Lars P. Syll’s BlogWhat is missing in Keynes’ General Theory Lars P. Syll | Professor, Malmo University

Pop quiz. Pick out what is correct and incorrect in the following criticism of MMT.Now that MMT is a hot topic, MMT proponents should have their elevator speech ready and easy to understand rebuttals of common objections, which, by the way, are getting more sophisticated now that critics realize the fear mongering using slogans like "Zimbabwe" and "Venezuela" are not doing the job. Or at least many seem to be upping their game.Have at it.American Enterprise Institute - Economic...

Common Weal director Robin McAlpine finds that the debate around Modern Monetary Theory can help the independence movement develop an economic case for independence far better than a redacted version of the Growth Commission [UK]. Common SpaceRobin McAlpine: Why the debate about MMT in the indy movement is exactly what we need right now

I haven't seen anything about this on the TV or in the Guardian. The United Nations Office for Humanitarian Affairs (OCHA) documented the killing of 295 Palestinians, by Israeli forces, as well as the injuring of 29,000 Palestinians in 2018. According to the new OCHA documentation, of the 295 Palestinians killed this year by Israeli forces, 57 have been children. A total of approximately 7,000 injuries were children. Incidents of Illegal Settler violence, have increased by 69% since...

I guess Americans chose the lesser of two evils? They probably did. [embedded content] In the first installment of this multi-part series, Trump Expanding the Empire, Abby Martin debunks the notion that Trump is an anti-interventionist president, outlining his first two years of aggressive foreign policy that has expanded US wars and occupations. From the biggest military budget in history, to removing its restrictions to “bomb the hell out of” Iraq and Syria, to ramping-up brutal economic...

The West freed the Libyians from Muammar Gaddafi  and socialism.  ABOARD SEEFUCHS RESCUE SHIP (Reuters) - Just before the sun dipped into the Mediterranean on Saturday, rescuers spotted a tiny wooden boat on the horizon. It turned out to contain five young Libyans fleeing violence and turmoil who were waving their arms for help. The crew of the Seefuchs plucked them from the old fishing boat, gave them water and couscous and one of the men, 26-year-old Hamza Tekbali, explained why they...

The West is the coalition of 'the evil '. Saudi forces backed by the United States are intentionally targeting food production and the agricultural sector in their bombing campaign in Yemen, according to a leading expert. In some parts of the impoverished country, the Saudi-led coalition is using a "scorched-earth strategy," says a scholar who specializes in agriculture in Yemen. "The coalition was and is targeting intentionally food production, not simply agriculture in the fields," Martha...