Mike Norman Economics

An awesome video, the Norwegians had a Labour government which kept its high taxes while investing its oil wealth, but Britain spent all its oil wealth on tax cuts (and it doesn't say here, but also on large dole queues as Thatcher destroyed British industry putting millions out of work).Britain's GDP did grow for a while, but tanked when the oil money run out, while Norway's economy prospered under socialism and grew steadily rich. Today, Norway is one of the richest counties in the world,...

Guggeheim Partners' Scott Minerd says the stock market is like "the Titanic heading for an iceberg."Look... “Just as an iceberg loomed in the distant darkness to be struck by the Titanic under full steam, so the US economy approaches the distant fiscal drag of 2020 under the full steam of rate increases to contain inflation and an overheating labor market...” He's got a flowery way with words.Fiscal drag? What fiscal drag is he talking about? The government is operating with record...

I am recording some promotional videos in London today for Macmillan Higher Education who will publish our forthcoming textbook – Macroeconomics on March 11, 2019. These will be the first of many short videos to support the teaching program outlined in the textbook. At last Friday’s very successful launch of the – Gower Initiative for Modern Money Studies (GIMMS) – I was asked a question at the end of the first formal workshop I presented, which I was unable to answer due to time...

Professor Kehinde Andrews says that Churchill starved 3 million Indians to death, but Piers Morgan, and everyone else, do not take any notice of this and just go on to say all the good things Churchill did. Piers Morgan then says to Professor Kehinde Andrews, that if he hates Britain so much then why does he live here, and Professor Kehinde Andrews says, because Britain wrecked all the other countries in the world? And so it goes on like this. It's quite funny. There's a lot of banter here...

Most of the posts are Mises Daily  are looney (in my opinion), but this one takes the cake. Huge claims, zero references.Why am I posting this for reference? Because "cultural Marxism" is a very influential meme on the right that is used to attack "social justice warriors," "political correctness" and "identity politics" as "Communists."Propaganda and persuasion (think marketing and advertising, for example) operates largely by creating memes that dominate the narrative and capture it....

I am resuming work on pondering the business cycle, and just wanted to give some initial comments about the notion of productivity. This article just describes some basic concepts taken from a generic post-Keynesian perspective (plus some of my own views, which may or may not be eccentric). As work progresses on my book, I should address the neo-classical approach, as well as empirical results. Bond EconomicsProductivity And The CycleBrian Romanchuk

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The Republicans are at it again.  A team of database experts, statisticians, lawyers and investigators working with the Palast Investigative Fund discovered — and Indiana now admits — that these thousands of voters were cancelled in violation of a June 2018 federal court order that barred the state from using the notorious Interstate Crosscheck purge list sent to state officials by Kris Kobach, Secretary of State of Kansas. The court order stemmed from a suit by the NAACP and League of...

How can mankind be so dumb? A few rich people have paid out millions to rubbish climate change science and largely succeeded. These problems could have been sorted out and the elites could have been making a fortune out of green technology, but they are lazy, it was easier for them to throw some money into climate change denial and then carryon pumping out the carbon. The right have spent a ton of money since the New Deal to get people to distrust all government and all taxes, so now many...

But US/  Saudi relations won't change, says Stephen Lendman.  On October 2, prominent Saudi journalist/critic Khashoggi disappeared after entering the kingdom’s Instanbul, Turkey consulate, needing documents for his upcoming wedding, scheduled for this week. He hasn’t been seen or heard from since, likely victimized by foul play. Turkish officials believe he was murdered by a Saudi hit squad sent from the kingdom to eliminate him. Last year, Khashoggi fled Saudi Arabia over harsh...