Mike Norman Economics

I'm starting to believe that the Western aristocracy do indeed worship Satan. They are stark-raving-mad! And yet they have billions and their families will live in opulence for generations, if not forever. So what are they bothered about?The elite lecture us about the protestant work ethic, well, all they have to do is invest their money wisely and do some long term investment in green technology to become world leaders in a new lucrative industry and they will earn a ton. Reliance on oil...

For the first time, the nation's defense hierarchy is no longer dominated by men. My mum used to say to me that if women run the world there wouldn't be any wars. From the executive leadership of top weapons-makers, to the senior government officials designing and purchasing the nation’s military arsenal, the United States’ national defense hierarchy is, for the first time, largely run by women. As of Jan. 1, the CEOs of four of the nation's five biggest defense contractors —...

Pavlina Tcherneva: There is nothing more crippling to a bold policy agenda than the myth that the government can run out of money. This myth is behind every But how will you pay for it? objection to proposals such as a Green New Deal and Medicare for All. New House Majority Leader Nancy Pelosi (D-Calif.) has even proposed instituting self-defeating PAYGO (pay as you go) rules, which would require all new government spending to be matched with increased revenue, wrongly prioritizing the...

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...