Mike Norman Economics

Jonathon Cook says the so called moderates want open borders to bring down wages to increase profits, but the right are no better  having no solutions for the neoliberal capitalist system that is broken. Western politics is tearing itself apart, polarising into two camps – or at least, it is in the official narrative we are being fed by our corporate media. The warring camps are presented as “moderate centrists”, on one side, and the “extreme right”, on the other. The question is framed as a...

Nurmagomedov is going to maul McGregor easily.

Former economics professor (at Penn, I believe):  MMT I sort of ranked these in order of things that are close to being objectively true to things that liberals believe (which are probably also true!). The explicitly political element is that conservatives and the mainstream media which incorporates basically incorrect beliefs use deficit and inflation fears to implement their agendas. It is true that they hate inflation but they exaggerate these fears to make sure they win on the issue, and...

This is so good, Steve Keen very concisely described his theories in a way I have never heard him talk about them before. This isn't for the general public.  It's very advanced and he touches on religion, philosophy, Karl Marx, Hegel 's dialect along with advanced mathematics.Steve Keen says economics students nowadays don't learn the type of advanced mathematics that students did in his time, what they learn is mythamatics, he adds.Steve Keen puts the un-equilibrium theories from physics...

This is so good I have decided to put the whole lot out as I was unable to leave anything out. See what you think?I find it strange how the so called left could attack Jimmy Dore as I think he really represents what the left should be. They say he is the Alex Jones of the left, but his shows are extremely well put together and are concise with no rambling. They are very intelligent and well thought out. He's a very nice and easy going guy, but he's the biggest threat to the establishment...

With the Western permabears anticipating yet another immanent implosion of the Chinese economy, the state media is reporting a healthy consolidation based on increasing self-sufficiency and new partners. China has been in a transition from investment and export-fueled development growth model to one that draws strength from innovation, consumption and service sector. "The new drivers have played a key role in sustaining growth, adjusting the economic structure and expanding employment,"...

Only a short blog post today as I am travelling for a fair part of the day on my way from New York City to Dublin for my next speaking engagement. Tomorrow’s blog post will cover some reflections on the 3-day Modern Monetary Theory (MMT) conference that finished yesterday in New York. There are several things I thought about the event, some of which I will share in public, the others, in private, with the organisers. But, today’s post, is a brief reflection on the latest crisis that is...

I was asked to give a short presentation at the MMT conference. What follows is the text version of my remarks, some of which I had to skip over in the interests of time. Many readers might want to skip to the bullet points near the end, which summarize what I include in MMT.... Need I say that this is a must-read in full.Multiplier EffectModern Money Theory: How I Came to MMT and What I Include in MMT L. Randall Wray | Professor of Economics, Bard College

I've often said here that I don't like excessive immigration into the UK; I want England, the land I love, to say English, but does that make me a racist? I'm completely okay with the multiculturalism in London, but I also like to live in the familiar English surroundings that I was brought up in. This it's my home.Many working class and middle class people feel the same, but by ignoring their wishes and calling them racist will make them turn to the right, which maybe what the ruling elite...

It is calculated that in addition to the secret arsenal of up to 400 nuclear warheads, according to American Scientists, the Israeli state also reportedly possesses chemical and/or biological WMD, making it a dangerous nuclear hegemon that poses a potential threat not only to the Middle East but also to Europe.  Neither France nor Britain nor Germany can equal Israeli state nuclear weaponisation on both land and sea. This calculation is based on the fact that the state of Israel is the...