Mike Norman Economics

Liberal Art Bannon (Georgetown/Harvard) and Liberal Art Brat (Princeton/American U) with MAGA’s antithesis to MMT:Typical Platonist circle jerk…

AbstractThis paper assesses claims that, prior to the 19th century, around 90% of the human population lived in extreme poverty (defined as the inability to access essential goods), and that global human welfare only began to improve with the rise of capitalism. These claims rely on national accounts and PPP exchange rates that do not adequately capture changes in people’s access to essential goods. We assess this narra- tive against extant data on three empirical indicators of human...

Video and transcript.Economists Radhika Desai and Michael Hudson introduce their show Geopolitical Economy Hour discussing the rise of the multipolar world and decline of US hegemony.Geopolitical EconomyGeopolitical Economy Hour Economists Radhika Desai & Michael Hudson explain multipolarity, decline of US hegemony

She's gone full monetarist zombie.

You know the drill.It was just explained in a previous post here.The LensWhat Every American Needs to Know About the Congressional "Pay-For" Game (Part 2)Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

More handwringing over "losses." Well, one party's loss is another party's gain.They still don't get that QE involves fiscal withdrawals comparable to taxes by transferring interest payments to government while the raising rate involves a fiscal injection comparable to deficit spending by increasing interest payments to nongovernment. That is, the former decreases aggregate net financial assets of non-government (reduces nongovernment net savings in aggregate) while the latter increases...

Todd attracted attention in 1976 when, at age 25, he predicted the fall of the Soviet Union, based on indicators such as increasing infant mortality rates: La chute finale: Essais sur la décomposition de la sphère Soviétique (The Final Fall: An Essay on the Decomposition of the Soviet Sphere). — WikipediaEmmanuel Todd is the author of After the Empire: The Breakdown of the American Order (2001). TASS (Russian state media)US may lose control of world finance due to conflict in Ukraine —...

Prime Minister Modi opened up the virtual Voice Of Global South Summit on Thursday by introducing India’s official approach to the emerging Multipolar World Order to those representatives of the over 120 developing countries who were invited to participate in this historic event. It can be summarized as the 4R global agenda since the four operative terms begin with that letter and involve ways in which to make International Relations more democratic, equal, just, and predictable. Here’s what...

The latest CPI report for the United States suggests that the inflation spike after 2020 was transitory in the rather weak sense that I understood the term “transitory.” I am curling in a bonspiel over the next few days, so I do have a long time to spend on this article, so I just want to outline my thinking on the topic of “transitory.”...Bond Economics TransitorinessBrian Romanchuk

 Mostly about political economy.India PunchlineBiden stoops to conquer Brazil’s LulaM. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassadorSee alsoExplains why Russia and China are militarily competitive with the US when their military budgets are far smaller.Again, explained by Michael Hudson some time ago.The Vineyard of the SakerEverything upside downHugo Dionísio