Mike Norman Economics

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Trump trying same m.o. on Iran as he used on North Korea — make an offer they can't refuse. But Iran is not North Korea.Asia Times‘Tweet of Mass Destruction’ ratchets up tension on IranPepe Escobar

Pass it on.heteconomistA Simple Modern Money Tale – Buckwell Island Establishes a CurrencyPeter Cooper

Scott Sumner gets his wish.The Money IllusionA new NGDP prediction marketScott Sumner | Professor of Economics at Bentley University

Getting the word out.Favorite line: Gar Alperovitz: Let me just say one thing. I’m from Racine, Wisconsin. I had an aunt who ran a little tiny Jewish bakery. She used to say, “You know, during the Depression there wasn’t any money around. Then they decided to run a war, and there was all kinds of money around. Why can’t we do that when we want to do that?” real economicsHow are you going to pay for it? Why Understanding Monetary Theory and Policy Is Critical For the Left Tony WikrentSee...

Read to the end — Kurowsawa's memo to his assistants, who didn't get what Rashomon was about at first  If you haven't seen Roshomon, it's the story of a trial in which the participants relate their versions of the same event from their respective points of view. It's a great elucidation of "perspectivism" aka "standpoint" epistemology. In this sense, the work is "philosophical"in addition to being a cinematic tour de force. All of Kurosawa's films are monuments in cinematic art, and many...

Batwoman and Dreamer join a recent spate of comic book adaptations for cinema and television that has wised up to the fact that today’s most culturally dominant genre has to mirror modern society better. In February, Marvel’s Black Panther film became a landmark event. It was the US’s third highest-grossing film, not only breaking a ceiling for black cinema, but riding on the back of a nuanced understanding of African-American history to become the series’ best yet. Pop art as leading...

British policy was to depend upon alliances with others, rather than to maintain a large standing army itself. So it was important to be able to draw upon a force of colonial troops when needed, including for the policing of the British Raj. Important though they were for British power, Indian troops commonly faced racial discrimination, were looked down upon by white officers and were often used as cannon fodder, while also being given worse grade arms and equipment than regular British...

Lots of things happening in the markets and Zombies running in every direction.

I have written about the concept of dynamic efficiency before. The most recent blog post on this theme was – The ‘truth sandwich’ and the impacts of neoliberalism (June 19, 2018) – which examined how social mobility across generations has been declining as a result of the decades of entrenched unemployment driven by neoliberal austerity biases. I also outlined the proposition in this blog post – US labour market reality debunks mainstream view about structural impediments (January 15,...