Mike Norman Economics

MMT. And he also talks about rent extraction! "So why are UK politicians obsessed with balancing the books rather than helping their citizens to lead healthier lives? The answer seems to be that the many UK politicians are strongly influenced by the desires of a powerful financial sector. While a finance sector is important, it is also predominantly a rent extraction industry. It mainly acquires wealth either on the backs of other people’s labour or their debts (interest). Progressive...

Norman Solomon, national coordinator for the progressive advocacy group RootsAction.org, which had lobbied on behalf of superdelegate reform, said he was skeptical that the power structure of the party would actually move on the issue. "But it moved in a big way today — because of grassroots power," Solomon told Common Dreams in an emailed statement just after the measure passed. "The sustained groundswell of progressive outrage, agitation, activism and organizing since 2016 forced...

Update on what's happening with negations among the US, China, and North Korea.Moon of AlabamaTrump Ties North Korea Talks To Trade Deal With China b

Frank Li begins up many interesting points and, in my view, gets a lot right in this post. It is worth considering in that it is comparison of systems by a person that knows both the Chinese and American. But Li omits some of the key Western thinking about the philosophical basis of liberalism, which distinguishes individuality from personhood.  A dilemma arises between individuality and personhood. On one hand, individuality is unique and varied and all individuals are clearly not...

OP-EdArmstrong EconomicsWhat Politics Regards us as the Great Unwashed & We the Subjects not People Martin Armstrong

Evolutionary theory meets artificial intelligence and the management of algorithms. EvonomicsEvolving the New Economy: Tim O’Reilly and David Sloan WilsonDavid Sloan Wilson, SUNY Distinguished Professor of Biology and Anthropology at Binghamton University and Arne Næss Chair in Global Justice and the Environment at the University of Oslo, interviews Tim O'Reilly, founder and CEO of O'Reilly Media

De-dollarization is official.It marks the return to national sovereignty, the Westphalian order, and multipolarism and away from neoliberal globalization, the Anglo-American Empire, and unipolarism.Donald Trump wanted bilateral trade agreements rather than multinational "free trade" agreements, but did he expect it to go this way?Zero Hedge"Thank God This Is Happening" Russia Says Time Has Come To Ditch The Dollar Tyler Durden

Weekend thinking.Thoughts On EconomicsA Semi-Idyllic Golden AgeRobert Vienneau

Seventy percent of Americans said they support a single-payer or Medicare for All health insurance system — including 85 percent of registered Democrats and 52 percent of registered Republicans. Compare these numbers to 2014, when only 21 percent of Americans thought we should have a single-payer system. The number of Americans who want to eliminate the private insurance industry and replace it with a single universal public program has more than tripled in just four years.… Similarly,...

Beginning to figure out how China works and why Western expectations have been consistently wrong about China' stability and resilience. The post addresses much more than property rights.More evidence that the Chinese leadership groks the basics of MMT?Grasping RealityThis is, I think, both right and wrong. China has an... interesting property-rights system—your property is secure not ...Brad DeLong | Professor of Economics, UCAL Berkeley