Mike Norman Economics

As David Weiner says, "important." The problem is that people prioritize security, good order and liberty in a descending order. When social dysfunction increases domestically in a liberal society, or an external threat is perceived as existential, then liberty cedes to order and, in extremis, to security. The question is whether "the free world" is facing such an issue, as some argue, and tending in this direction — vide the Patriot Act, the Department of Homeland Security, and the...

This is flat nuts… Marx Brothers in Duck Soup nuts. Sic Semper TyrannisJames Jeffrey wants no-fly-zone over Syria… all of Syria TTG

Vice President Pence in a speech about China some weeks ago essentially said that the United States and the West more broadly made a bad bet. The bet was that if Western countries participated in capitalism with China, that its political system would open up, that democracy would follow. He said that bet hasn't worked out, which does seem plainly true. Do you assume that China will never open up? No, I don't think we should assume that at all. In fact, I think a very important factor in...

It just went from economic to political.

We need a revolution to cast off monopolies and restore entrepreneurial freedom. First of two excerpts from “The Myth of Capitalism.” Bloomberg OpinionCompetition Is Dying, and Taking Capitalism With It Jonathan Tepper See also a short review of The Myth of Capitalism A lot of times, when you read reviews about books on the economy, you end up wondering what the reviewer’s ‘priors’ are as people like to say in economics. You read the review and wonder where the biases of the reviewer...

This one much better. Steve Keen says how Karl Marx successfully incorporated classical economics to counter capitalism in the same way Ricardo and Smith developed classical economics to counter feudalism. So, to save capitalism conservative economists came along and developed neoclassical economics, but to make their theory work they had to leave out banking and the financial sector as this made the maths much easier. They simply stated that as all money in existence was borrowed then as...

I don't know who John Adams is, but he seems to be a gold and silver bug and very right wing in his economics and maybe even be a libertarian. I'm not an economist but I began to see his arguments were nonsense. For instance, he says that MMT states that printing more money is not inflationary when the economy is under productive because the new money will produce more goods and services, but he goes on to say that adding more money to the money supply is always inflationary without saying...

A silly tweet sends market down 800 points.

This is from a conservative site, but I thought it gave a good summery of what's happening in France. [embedded content]

Oriental ReviewIs China Really More “Dystopian” Than The UK? Andrew Korybko Renegade, Inc.We are all Julian Assange Daniel Margrain Consortium NewsYellow Jackets Rise Against Neo-Liberal ‘King’ Macron Diana Johnstone FAIRCan Corporate Media Be Any Worse… Venezuelanalysis Venezuela Is Not a Sponsor of Terrorism Lissett Hernandez | chargé d'affaires for the Embassy of the Bolivarian Republic of Venezuela RTTrump: China should use death penalty for distributors of Fentanyl, ‘results...