Mike Norman Economics

The "debt" of the government is the asset of the non-government. Translation: not something to worry about. Better translation: it's a good thing.

In the specific context of a Green New Deal, the most important demand should be a reduction in working hours, with no offsetting change in wages. That amounts to taking the benefits of increased productivity, and progressive redistribution, in the form of increased leisure rather than increased consumption. It goes along with research findings suggesting that experiences, rather than material goods, are a better source of lasting happiness. To make the argument work completely, we need the...

Prediction: This is going to backfire big time. The boy has cried wolf too many times. I  for one will be looking for the red flags to identify the real news.Mint Press NewsHow a NeoCon-Backed “Fact Checker” Plans to Wage War on Independent Media Whitney Webb

My new working paper “The Fiscal Theory of the Price Level in Overlapping Generations Models” is now available here. The paper, joint with Pawel Zabczyk of the IMF, is also available as CEPR Discussion Paper 13432 and as NBER Working Paper 23445. Here is a teaser from the abstract…. Given the recent publicity for deficit spending by Olivier Blanchard writing on his PIIE blog, or the interview with Stephanie Kelton in Barrons, we think our paper is timely. We demonstrate that sensible...

Keynes quote. Lars P. Syll’s BlogKeynes on the limits​ of econometric methodsLars P. Syll | Professor, Malmo University

The story is widespread on social media but the Daily Mail is the only corporate medium that a search turns up a day later. News suppression? Daily Mail (13 Jan 2019)French riot police are now using semi-automatic weapons with live ammunition against Yellow Vest protestors as Macron's law and order crisis spirals Sophie Law On Twitter. Click the link for a video. Largest yellow Vest protest yet. This is growing and spreading. The French people will not let the globalist government...

Ellis Winningham — MMT and Modern MacroeconomicsUnderstanding Money, Federal Spending, and Federal Tax Liabilities Addressing Some Concerns with MMT and Overt Monetary Financing“Monetising The Debt” is Derp“Printing Money” – Yet Again Ellis Winningham

So much ink has been spilled for so long on the national debt, it might be nice if that $22 trillion plus on the red side of the US balance sheet just didn't really matter.That's exactly the thinking behind a new school of economic theory that the government should be spending more, not less.…  But people like Stephanie Kelton, Sanders' economist in 2016, a professor at Stony Brook University, and a proselytizer for this view toward currencies and national economies, argues that the...

These two videos are pretty hard hitting. Cameron, the guy who made them, seems to be a very smart young man who has read a lot of books and really knows how to articulate his views. He says he has Asperger's Syndrome, which I would have never have guessed, but it might explain why he is so 'full on' in his videos, which makes for riveting viewing. I share his views entirely.All empires are brutal. Top 10 US-Backed Atrocities and Authoritarian Regimes [embedded content] What The...

It's not essential as it two and a half years old, but Col. Lawrence Wilkinson, who is a lifetime Republican, seems to support Bernie Sanders who he says is not really that radical. And it's interesting what Col. Lawrence Wilkinson says about the millenials at the end of the interview.But his idea that Trump might hate the Republican Party and is out to destroy it may be not current, though, as Trump seems to be doing so much of what they want. It's interesting, though, that Col. Lawrence...