Mike Norman Economics

This week’s theme seems to be the about how the so-called progressive side of the economic and political debate keeps kicking ‘own goals’ (given a lot of this is happening in Britain where they play soccer) or finding creative ways to ‘face plant’ (moving to Europe where there is more snow). Over the other side of the Atlantic, as America approaches its mid-term elections, so-called progressive forces who give solace to the New Democrats, aka Neoliberal Democrats are railing against fiscal...

Defend Democracy NewsScale of NATO Practice Offensives Near Russia Growing – Defense Minister Shoigu Fort Russ News MAJOR: NATO ACTIVITIES ON RUSSIAN BORDER NOW REACH ALARMING LEVEL – RUSSIAN MOD ARMS RACE: RUSSIA’S NEW P-18R RADAR ABLE TO DETECT STEALTH AIRCRAFT Paul Antonopoulos Project Syndicate Killer Politicians Jeffrey D. Sachs | Professor of Sustainable Development and Professor of Health Policy and Management at Columbia University, Director of Columbia’s Center for...

Best information on the Khashoggi affair I have encountered so far. There are many things to learn from the gruesome murder other than the justified outrage at the event itself. It opens a window on the truly horrible world of the extremely powerful and wealthy. Craig Murray BlogKhashoggi, Erdogan and the Truth Craig Murray, formerly British ambassador to Uzbekistan and Rector of the University of Dundee

The "Financial Instability Hypothesis" is a phrase describing the economist Hyman Minsky's views on the driver of the business cycle. The description here is based on the essays found in the book Can "It" Happen Again? Essays on Instability and Finance. The objective here is to capture highlights of his thinking, and not attempt to cover the breadth of his world view. If the reader wishes to find a fuller description, I would recommend the essay "The Financial Instability Hypothesis: A...

One of the themes that has emerged in the discussions of the British Labour Party Fiscal Credibility Rule (which should be renamed the Fiscal Incredulous Rule) is when is the right time for a political party to show leadership and start educating the public on new ideas. The Modern Monetary Theory (MMT) project has been, in part, about educating people even if our ideas have been strongly resisted by the mainstream. The mainstream (New Keynesian) paradigm in economics is degenerative...

Appears (empirically) as if our ability to abstract might be in direct conflict with our ability of rote memorization... Solomon Shereshevsky (Luria, 1968) had an almost perfect literal memory. He remembers strings of hundreds of digits for years after only having read them once. I would like to explain this by his awesome synesthesia: everything is encoded in so many ways that everything is considered as new, and so a new memory trace is formed to remember it (we know that "first time"...

VP Pence tweet today on the 35th anniversary...35 years ago, radical Islamic terrorists, backed by Iran, bombed our Marine Barracks in Lebanon, killing 241 American heroes. We remember their sacrifice & under @POTUS, we honor their memory by holding Iran accountable for its violent & destabilizing actions in the region. https://t.co/IEqNPrZss8— Vice President Mike Pence (@VP) October 23, 2018

The latest crazy.Maybe taking a lead from Israel's shooting marching protesters as "invaders"?Breitbart NewsExclusive--Ken Cuccinelli: States Can Stop Migrant Caravan 'Invasion' with Constitutional 'War Powers' John Binder

Why is the Council of Economic Advisers producing party political propaganda for the GOP?… Are Trump's "economic advisers" really so ignorant of basic economic concepts beyond the most elementary textbook simplification?... But, but... economics is a science! (snark)Econospeak"Opportunity Cost of Socialism" Sandwichman

It's worth watching for the comments underneath. [embedded content] The current US national security adviser landed in Moscow less than two days after Trump vowed to pull out of the milestone Intermediate-Range Nuclear Forces (INF) treaty, boldly accusing Russia of violating it.