Mike Norman Economics

American foreign policy realists and idealists both clueless about reality? Military analyst and former Soviet military officer Andrei Martyanov thinks so and gives reasons, the principal one being failure of academicians to understand the material systems involved in military science because they are not qualified to do so. So it is a matter of incompetent academics advising clueless politicians.This is especially poignant now that the US is trying to disengage from Afghanistan and Syria...

This is the question that I am often asked and will be asked in two days. So I decided to write my answers down.… The reasons can be formally broken down into three groups: instrumental reasons having to do with economic growth, reasons of fairness, and reasons of politics.... Contra trickle down, on  one hand, and, more importantly, critiquing the engine that drives capitalism— profit as surplus value over subsistence. The consequence of this is paradox, which Marxians call "internal...

You might be aware of the hour-long Wynne Godley’s interview with Alan Mcfarlane from 2008 titled, Interview On The Life And Work Of Wynne Godley. But there’s a 90-second clip and a 19-second clip I found from 1993 on Getty Images with the descriptions…. Thanks for sharing. The Case for Concerted ActionRare Wynne Godley Video ClipsV. Ramanan

Mister President, in the patois of your native New York City, pull your head out of your ass concerning the Middle East. The Saudis AND their government are nearly all religious fanatics of the Wahhabi, Sunni variety. The Al- Saud family run an absolute tyranny justified by their defense of the fanatic, medievalist brand of Islam that they live by as well as by the support of tribal groups who keep the Al-Saud secure as they always have. Wake up! All the world is NOT a market place....

The ascendence of China and multilateral trading blocks could eventually spell the doom of the G20 and U.S. global dominance, as Pepe Escobar explains. Consortium News On The Road to a Post-G20 World Pepe Escobar See also by Pepe Escobar at Consortium News Future of Western Democracy Being Played Out in Brazil (9 Oct 2018) Welcome to the Jungle (29 Oct 2018)See also Reminiscence of the FutureA Teaser Andrei Martyanov

Strategic Culture FoundationEncouraged by US, Ukraine Prepares to Stage Military Provocation Arkady Savitsky SouthFrontPoroshenko Finds Out 80,000 Russian Troops Stationed For Invasion In Ukraine [snark] SouthFrontNATO Secretary General Says Military Bloc Is Not Going To Withdraw From Afghanistan In Any Scenario SouthFrontVIDEO: KAZACHKA | MASTER CLASS OF RUSSIAN BEAUTY ON SABERS Fort Russ NewsMaduro Insists Right to Sell Gold as Turkey and Venezuela Create anti-US Alliance Paul...

Everybody’s got to calm down. Take a breath.

Traditional economic theory is rooted in a 19th- and 20th-century understanding of science and mathematics. At the simplest level, traditional theory assumes economies are linear systems filled with rational actors who seek to optimize their situation. Outputs reflect a sum of inputs, the system is closed, and if big change comes it comes as an external shock. The system’s default state is equilibrium. The prevailing metaphor is a machine. But this is not how economies are. It never has...

More MSM fake (Photoshopped) news  exposed. If you are wondering whether The Guardian is also involved, the answer is yes. Morons (anchor bias, confirmation bias) or complicit (propaganda). Hey editors, unanalyzed pictures are no longer evidence. Save yourselves some embarrassment Oh, wait, you already knew that!Moon of AlabamaSyria - 'Activist' Posts Fake Picture - Fact Checkers Fall For ItSee also With its strongly misleading report Reuters, or at least its correspondent in Geneva,...

A sizeable portion of the US discussions about economic policy toward China seem to me based on two conceptual mistakes. One mistake is that China's rapid economic growth fundamentally depends on trade with the US. The other mistake is that the bulk of US economic problems depend in some fundamental way on trade with China.... It's worth spelling out the underlying logic here a bit. The formula for economic growth is to invest in human capital, physical capital, and technology, in an...