Mike Norman Economics

I came across this fine Jeremy Corbyn Speech in which he explicitly talks about the ideology of the working class which is utterly deflationary to output. It’s from 2010, and shows how clear his understanding of the way the world works, is. It is extremely rare and in my opinion, no politician has come even remotely close to it.... The Case for Concerted ActionFine Jeremy Corbyn Speech From 2010V. Ramanan

Is accusing China of using debt as a weapon capitalist chutzpah on the part of Pence, when it's SOP under neoliberalism — "free markets, free trade, and free capital flows" — to put less powerful countries in debt to powerful countries to the degree that they need to go to the IMF for funding to meet debt obligations, the strings attached being giving up control of their institutional arrangements, fiscal policy and national sovereignty?  I doubt Pence will fool anyone on this, but...

Journalists simply follow ratings. The Kardashians have a huge following. When you see a woman who is a parody of a star on the Kardashians, you’ve got to put her on to attract viewers. I tune in for her like I don’t for Elizabeth Warren or Paul Ryan because she’s simply so goshdarn funny. It’s the Kardashian-type funny but it’s still entertaining. Alexandria the Great Ocasio-Cortez. The "younger generation" is about being natural and part off that means "not politically correct," let...

Institutional religion off, spirituality on. On a practical level, that means a lot less funding for religious institutions — and a lot more funding for "spirituality," some of which is organized and some not. This trend was already perceptible as an aspect of the countercultural revolution of the Sixties and Seventies. An underground or alternative economy also developed then and it has grown into the billions presently and become mainstream. Part of that is the so-called New Age...

John Quiggin explains his new troll policy. I’ve decided that life is too short for me to deal with any more trolls. John QuigginTrolls (crosspost from Crooked Timber) John Quiggin | Profess of Economics at the University of QueenslandUpdate:I just ran into this interesting study. In a study published by Taylor Francis Online, and written by Kathleen Searles, Sophie Spencer and Adaobi Duru, it's quite clear that abusive and "uncivil" comments (like "UR a commie lib and you eat babies — go...

What’s less clear is whether this is real functioning technology or an example of the Chinese government bragging about some technology which does not yet exist. “Without being able to take the lid off what has been shown here, we can’t be sure if this is an elaborate hoax,” Alan Woodward, a professor of physics at the U.K.’s University of Surrey, told New Scientist. The demonstration was only available to Chinese media, and foreign press — including a reporter for the publication Aviation...

Notice who gets all the most desirable (and expensive) property. There are the areas that pay most of the taxes based on income and wealth distribution. See the post for other "strange maps" and stats. Big Think How to split the USA into two countries: Red and Blue Frank Jacobs

In Total, Almost Half of the Newly Elected Congressional Representatives Are Not White Men. Those Changes Come Almost Entirely From Democrats; Republican Members-Elect Are All White Men Except for One Woman. **** LGBT breakthroughs include Democrat members-elect Sharice Davids (D.-Kan.), the first LGBT Kansan elected to Congress, and Kyrsten Sinema (D.-Ariz.), the first openly bisexual person ever elected to the U.S. Senate. The first Muslim women were elected to the House: Ilhan Omar...

Scientists have the tools and methods to discern whether there is a 5th dimension - four spacial dimensions plus time. A three dimensional object casts a two dimensional shadow on a flat two dimensional plane, but a four dimensional object would cast a three dimensional shadow in our space time.Arlie Petters studies the shadows created by the stars in the universe as their light passes planets the pattern it produces looks remarkably like the human brain with its membranes and cells.We once...

I have been toying with an idea of writing a book with the title "How Can a Floating Currency Sovereign Default?" As a follower of Modern Monetary Theory (MMT), this is a bit of a joke, since the text of the book would just be: "They can't." The book can then be submitted to the World's Shortest Book Competition. Thinking about this has led to me to the realisation that the usual way of discussing sovereign default is inherently defective. (This criticism extends to my earlier book...