Mike Norman Economics

On August 6, 2018, British tax expert Richard Murphy who is becoming increasingly sympathetic to the principles of Modern Monetary Theory (MMT) published a blog post, which recorded an exchange with one James Meadway, who is the economics advisor to the Shadow Chancellor John McDonnell in Britain. The exchange took place on the social media page of a Labour Party insider who has long advocated a Land Tax, which McDonnell is on the public record as saying will “raise the funds we need” to...

This is good, a top US official says that China is overloading the world with debt as it builds its new Silk Road and invests in those countries. Now that's rich, the West has been overloading the world in debt for decades through the IMF and the World Bank and plundering their economies through privatisation so that its elite can buy up everything in those countries. But China is investing in third world countries instead, helping them to build up their economies making them richer, which...

Backgrounder. Should read if interested in geopolitics, geostrategy and international relations. This is a pivotal area of the world that most Westerners ignore as "backward." It is now coming into play and will be increasingly influential in the dynamic among the Atlanticists, Russia, India, and China, owing to developing strategic importance as the rivalry between the Global North and West versus the Global South and East heats up. This pretty much boils down to the developed world...

The cream of Sy Hersh's autobiography. From a recent The Intercept interview and book review — If Hersh were a superhero, this would be his origin story. Two hundred and seventy-four pages after the Chicago anecdote, he describes his coverage of a massive slaughter of Iraqi troops and civilians by the U.S. in 1991 after a ceasefire had ended the Persian Gulf War. America’s indifference to this massacre was, Hersh writes, “a reminder of the Vietnam War’s MGR, for Mere Gook Rule: If it’s a...

I thought this was an excellent analysis of the Ruissiagate myth.  Paul Jay describes how the Russians were once portrayed as evil, godless communists, but now they are capitalist the establishment stills portrays Russia as deadly evil. People were  programmed to hate Russia during the Cold War and this is still deep in American psyche (which was designed to also put people off communism)  and with all that momentum built up it is easy to still get people worked up and frightened about...

We’re still in that same range, but the eventual breakout will be to the downside not the upside.

First Annotated Web-Publication of the Complete Official Record of Hitler’s Meeting with, and Promises to, the Mufti of Jerusalem Chilling reading! Adolf Hitler’s private and confidential meeting with the Grand Mufti of Jerusalem, on 28 November 1941, right at the start of his Holocaust to get rid of “the Jews,” was enormously significant historically, because he was here secretly informing the leader of Palestine, about what Hitler’s plan was for Jews after Hitler would eliminate them from...

 Emerging and Developing Economies for the First Time Account for a Larger Share of World GDP or Global Output Than Developed Economies; A Point Surpassed After the 2008 Financial Crisis That Has Continued Apace (See Figure 1).... How has this been achieved? Possessing good institutions is what economists have come to focus on and the spread of such institutions seems to have been key, as the father of New Institutional Economics predicted. The seminal work in this area was by Douglass...

The Atlantic Council is now the national censor.Check out who and what the Atlantic Council represents and who funds it, and then go figure. Right, the Atlanticists, a euphemism for the Anglo-American Empire of the combined American and British elite and their European vassals. Facebook donated an undisclosed amount to the lab in May that was enough, said Graham Brookie, who runs the lab, to vault the company to the top of the Atlantic Council’s donor list, alongside the British...

I was just wondering a day or two ago just how long it was going to take for China to play the Apple card.Making an offer you can't refuse.Coming to your neighborhood soon: Chinese boycott of US and US boycott of Chinese goods by patriotic consumers.Zero HedgeChina Threatens Apple With "Anger And Nationalist Sentiment" If It Doesn't Share The Wealth Tyler DurdenSee alsoWhere did that technology come from?The Political Economy of DevelopmentMariana Mazzucato on the State behind trillion...