Mike Norman Economics

Warren Mosler’s unorthodox take on fiscal policy is catching on with progressive Democrats. A superb article about Warren Mosler. Did you know that Bill Mitchell developed MMT independently of Warren Mosler? Warren Mosler has a heart!  He ran a hedge fund, lives in a Caribbean tax haven, and loves fast cars and yachts—not obvious qualifications for a left-wing guru. But that’s what Warren Mosler is rapidly becoming. Its main argument is that governments with their own...

If the government is not as broke as some say it is, then the inability to invest in things like public education is due to a lack of political will and not some natural law written into the fabric of economic reality. SojournersCan We Afford Economic Justice In The United States? Daniel José Camacho | Associate Web Editor

Abstract Since the global financial crisis ten years ago, a mature research programme has developed on the austerity policies imposed, especially in European states, to counter perceived threats from excessive public debt and deficits. While many scholars have criticised austerity for digging the hole deeper, fewer have provided clear alternatives. Yet, the economic school of Modern Money Theory encourages analysis into the operational realities of monetary systems to examine mechanisms,...

Titled Declarations of Dependence: Money, Aesthetics, and the Politics of Care (University of Nebraska Press, July 2018) my recent book develops the insights of Modern Monetary Theory (MMT) for critical theory and aesthetics. While the modern Liberal imagination treats money as a finite, private and decentralized exchange instrument that seems incapable of serving all, MMT’s state or “chartalist” approach to political economy insists that money is an inalienable public utility that can...

Adam Smith thought there were two economies – meritocratic for the poor and powerless and anti-meritocratic for the powerful. There is also a legal double-standard of justice reflecting this. Steal a hundred go to jail; steal a million, get promoted. Accountability is inversely proportional to status? Stumbling and MumblingAdam Smith's two economiesChris Dillow | Investors Chronicle

Could the research carried out by hereditarians be pseudoscience, and that there is not much difference in the potential of I.Q between the different races after all?  Every truly scientific proposition offers some clear empirical conditions under which it would be falsified; otherwise, it would have to be shelved under the mystical field of unfalsifiable pseudoscience. For the racial genetic hypothesis (the proposition that test score differences between blacks and whites are in part rooted...

Trump might not be the sociopath that he is made out to be, because his resistance to America's wars seem to be genuine, at least according to this article.He was always hawkish on Iran, but if this article is true, it seems it was more than likely he would have brokered a deal with Iran, like he did with North Korea, rather than start a war.It's sad to read how he really wanted to end America's wars, but the deep state overwhelmed him. But he must be a pretty strong guy to stand up to them...

Evolutionary biology.Caitlin Johnstone — Rogue JournalistOn Biology, Brains, And Human SufferingCaitlin Johnstone

Pew Research CenterTrump’s International Ratings Remain Low, Especially Among Key Allies Richard Wike, Bruce Stokes, Jacob Poushter, Laura Silver, Janell Fetterolf and Kat DevlinSputnik InternationalCanisters With Chlorine Got in Daesh Hands Due to West's Irresponsibility - MoD RT ISIS seizes chlorine canisters in attack on Al-Nusra & White Helmets – Russian MoD Reminiscences of the FutureIt Is The Devil You Know Andrei Martyanov Sputnik International China’s Top-Secret H-20...

Karl Marx chronicled and contributed to the political economy of the working class. He did not invent, conclude or supersede it.He did not invent, conclude or supersede it. In his Inaugural Address to the International Working Men’s Association, Marx celebrated the first victory of the political economy of the working class, the passage, in 1847, of the Ten Hours' Bill: This struggle about the legal restriction of the hours of labor raged the more fiercely since, apart from frightened...