Mike Norman Economics

In some recent posts, a job guarantee has been considered within the income-expenditure framework. One post in particular suggested a possible conceptualization of the dynamics of the model. It was shown that these dynamics are consistent with the model’s steady state requirements. Demonstrating this took a fair bit of algebra, which may have obscured for some readers the simplicity of the actual model. Much of the algebra was only needed for the specific purpose of verifying that the...

NewsClick (India)Neo-Liberalism and the Diffusion of Development Prabhat Patnaik | Retired Professor and Sukhamoy Chakravarty Chair in Planning and Development at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi ReutersInterpol elects South Korean as president, Russia condemns Western pressure Alexander CornwellArmstrong EconomicsRussia Starts Criminal Investigation of Browder While US Deep State Protects him Martin Armstrong Valdai PapersChina’s...

Researchers have long relied upon the St. Louis Fed’s FRED and ALFRED databases for (primarily) US series. Now, Banque de France, CEPREMAP and France Stratégie have launched a new free database of international macro data, DB.nomics.…. EconbrowserIntroducing DB.nomics Menzie Chin | Professor of Public Affairs and Economics, Robert M. La Follette School of Public Affairs, University of Wisconsin, and Co-editor, Journal of International Money and Finance

"None of the distinguished members of the committee arrived at the seemingly obvious conclusion: that maybe the United States should not fight such a war" Off the planet madness! Taiwan can fight its own battles.  Surely the aristocracy know that no one will win these wars because all life on Earth would perish. But the elites intend to get all the American people on their side for the war effort, and all of science, commerce, engineering, everything.  A bipartisan commission...

UnsilentMajority  @The_UnSilent_ Number of people who go bankrupt every year because of medical bills: UK - 0 France - 0 Spain - 0 Portugal- 0 Denmark - 0 Australia - 0 Iceland - 0 Italy - 0 Finland - 0 Ireland - 0 Germany - 0 Netherlands - 0 Sweden - 0 Japan - 0 Chile - 0 Canada - 0 United States - 643,000 3:12 AM · Nov 15, 2018

The first section of the previous post outlined basic steady state relationships in a simplified economy with a job guarantee. There are various ways of expressing the same relationships that shed light on what is going on in the model. Here, a few ways of thinking about the levels of total income and job guarantee spending are noted.... heteconomistSome Aspects of a Steady State with a Job GuaranteePeter Cooper

Again, Moon of Alabama comes up with the best analysis to date IMHO.Moon of AlabamaKeeping Bin Salman In Place Will Hurt Trump's Policies

It is Wednesday and I am doing the final corrections to our Macroeconomics textbook manuscript before it goes off to the ‘printers’ for publication in March 2019. It has been a long haul and I can say that writing a textbook is much harder than writing a monograph not only because the latter are more exciting in the drafting phase. The attention to detail in a textbook that runs over 600 pages is quite taxing. Anyway, that is taking my attention today. ? Yay! I also plan to write some...

The debt limit in the United States is currently not an object of worry, but it represents one possible avenue to default. From the perspective of a non-American, it is rather difficult to understand how such a strange custom could arise. This article outlines very briefly the history of the debt limit, and then moves to discuss the risks associated with it. This issue underlines the argument that default risk in floating currency sovereigns is political risk, not financial.... Bond...

Well, I don't like the warmongering Democrats much, but they seem to represent a more robust and growing economy, while the Republicans win seats in the red rural states. This divide is slowing the US down, says John Harwood, but the Republicans won't let the government spend more money on the red states to bring them up to speed as the Democrats would like, for instance, by spending more money on training. Among other results, this year's midterm elections affirmed this much: in Washington,...