Mike Norman Economics

Warren Mosler tweeted this. Fascinating!Just think what Keynesianism would have been like if Keynes had the time to read more of the work of the economist, Abraham Lerner - well, we may have had MMT much sooner?Jeremy Corbyn makes the same mistake as Bernie Sanders by wanting to sound fiscally conservative about tax and spend because the paradigm has been set the conservative neoclassical economists who have told the general public that the country has to be run like the family household...

This is excellent!Michael Hudson describes how Rome fell when the creditors took over the Senate. They murdered the politicians who stood for the people and for debt reform, and put in charge someone like Trump who cut all the taxes for them. Debts spiralled out of control and the economy crashed. Rome was no more. [embedded content] Economist and author, Michael Hudson, in his new book “…And Forgive Them Their Debts: Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee...

Left to itself, capitalism will devour itself and the system under performs which means we all get poorer. But not only have neoclassical economists under played the role of banking in the economy, they also believe that maximizing profits is always best for companies and the economy, even if it means in the long term there is under investment. China is doing the opposite and leaving us behind.After a few years of high profits, at the expense of the long term health of the company, CEO's can...

When was the last time you have seen Noam Chomsky on TV, says, Oliver Stone? [embedded content] Oscar winner Oliver Stone says even he has difficulty producing films these days, because the US corporate media silences anti-war voices, and "We've really gone to the right in America."

Do the corporations have a dark underbelly?  [embedded content]

Tom Bolton says that Russia and China are being predatory in Africa by offering bribes. He says they are taking away Africa's independence and financial freedom. He must know he's talking nonsense, and that colonialism, imperialism, and neoliberalism has not brought independence and freedom to Africa.China invests throughout Africa building up its infrastructure, which helps it to gain access into its markets. African countries like it, but the US calls it bribes.Tom is right, WW3 is being...

The British government financed Integrity Initiative is tasked with spreading anti-Russian propaganda and with influencing the public, military and governments of a number of countries. What follows is an incomplete analysis of the third batch of the Initiative's papers which was dumped yesterday. More evidence.Moon of AlabamaThe 'Integrity Initiative' - A Military Intelligence Operation, Disguised As Charity, To Create The "Russian Threat"See alsoZero HedgeLeaked Memo Touts UK-Funded...

Strategic Culture Foundation Psychoanalysing NATO: Schizophrenia Patrick Armstrong See also The Unz ReviewThe Indiscreet Charm of the Gilets Jaunes C. J. HopkinsSee alsoStrategic Culture FoundationFrance in Turmoil… Blame Russia! Editorial

Credit booms are perceived to fuel resource allocation and often end in crises that are followed by protracted periods of low growth. This column investigates the macroeconomic effects of credit booms using a new theory of information production. The theory predicts that when the economy enters a collateral boom, the price of collateral rises and lenders rely more on collateralisation and less on information-producing screening of entrepreneurs. Empirical evidence based on US data confirms...

Longish backgrounder on an emerging political force on the left. The Overton window had been shifting right for decades. Now it seems to be shifting left again.The NationYanis Varoufakis’s Internationalist OdysseyAtossa Araxia Abrahamia