Mike Norman Economics

China is finding its way alone as new type of socio-economic system on the scene that also has to interact with the current world order. It's doing all right, and even great as far as development economics goes. Project SyndicateHow Cities Are Saving China Andrew Sheng, Distinguished Fellow of the Asia Global Institute at the University of Hong Kong and a member of the UNEP Advisory Council on Sustainable Finance, former chairman of the Hong Kong Securities and Futures Commission, and...

If you are interested in Marx.Speaking as a philosopher commenting on Marx as a philosopher more than he was an economist, I think that Matias Vernengo gets is about right. He is in agreement with John Kenneth Galbraith on it.Marx was a materialist ontologically. He had written his doctoral dissertation on Greek materialism.  He looked forward to occupying a chair in philosophy at a university as a career. His political activism obviated this, and he was forced to go into exile to more...

Elevated levels of government spending driving everything. Inflation to pick up.

From Mike's latest: Total spending for the fiscal year thus far thru August 24, $4.3T, up $158 bln over last year and growing at 3.82%. This is the largest y-o-y positive gap so far and growing at the fastest year-o-y rate.  Corporation Taxes, $206 bln, down $53.5 bln...down from the tax cuts... Bank credit up $12.4 bln to $12.795T, the highest in 3 weeks. The growth rate held steady at 3.7% y-o-y. Loans and Leases in Bank Credit, up $5 bln to $9.382T. The growth rate ticked up to...

The mass murderer, John McCain, is considered to be a hero. Murder one person and you go to prison, murder millions and you become a hero. Lockheed Martin had some nice things to say about John McCain.What gets me is how the hell did John McCain end up in the Democratic Party? It just goes to show you they are as bad as each other.  There is no democracy - in every society it is the aristocracy that rules.  KV Caitlin Johnstone warned us that the liberals were going to make a hero out of...

Jimmy Dore shows your the real John McCain, except it was no secret, so why doesn't the media tell us the truth? John McCain sings, Bomb, bomb, bomb, Iran, and the audience laughs. Well, McCain won't be found in Heaven. When Margaret Thatcher died lots of people in Britain sung, Ding dong, the witch is dead. [embedded content]

This gives your some idea of how the world works. It it's truly evil. I often try to figure out what goes through the minds of the powerful and the elite, are they simply psychopaths? Money is the root of all evil, says the Bible.  I once said to a Quaker friend that evil was rare, and he said lots of Quakers believe that, but evil is everywhere and was real, he added. I didn't believe him but know I know he was right.  I don't know how PCR and Steven Lendman sleep at night with what they...

Regular readers will know that I have spent a lot of time writing about the demise of the Left political parties as they became subsumed with neoliberal economic ideology, which blurred the political landscape as the ‘centre’ moved to the Right. That topic was the focus of our current book – Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World (Pluto Books, September 2017). The neoliberal infestation has left these parties with declining electoral support,...

There is no problem with scarcity — there is a problem with humanity’s social organization and with its institutions. There is no failure in our production of economic values — even now they are being produced to abundance (maybe even over-abundance). The math above shows that, if it could be allowed, this country can afford to pay a wage just shy of $100 to every human being who is willing to work. It is only the obscenely wealthy whom we stretch and strain to afford… Economic rent.John...

Struggling a bit with defining love, but on the right track toward addressing the question, what is a good life in a good society from the material (economic) aspect.Love is the great unifier. Renegade, Inc.The Politics Of Love: Where To From Here? Philip McKibbin