Mike Norman Economics

                                                            When you get to be leader of a country one of your main jobs seems to be selling armaments made by your country's arms manufacturers. Trump is a master salesman and he is saying that the US produces the world's best weapons. Hmm, but not as good as the Russian ones which cost far less to develop because their nationalised arms manufactures are not trying to extract as much money as possible out of the Russian public like Western...

The liberals hate Trump so much that they are now suffering from Trump Derangement Syndrome, says Professor Stephen Cohen. Trump stands for everything they hate; his tearing up of environmental regulations; his  disregard of global warming; his backing of the corporations; his tax cuts to the rich who don't need anymore money; his nationalism and his alt. right supporters. Yep, there's plenty to hate about Trump, but now the liberals have sided up with the corrupted corporate Democrats and...

It was 129 degrees Fahrenheit.

Economic warfare is heating up. Can kinetic warfare be far behind?TASSSanctions Against Russia Do Not Work, New Measures Should Be Introduced - US SenatorSee alsoThe imperialist powers feeling their oats.As Peters sees it, the economic war is aimed at China.Hey, make up your mind, is it China, or Russia, or Iran, or Venezuela, or Cuba, or ? — anyone refusing to become either a US puppet state, a vassal paying tribute (like European countries), or a colony being exploited.Looking more and...

Long, but you probably want to read through it.What happens when the next one hits. That's the great thing about capitalism — you know it is coming; you just don't know when and how bad. If the next one is a big one, all bets are off whenever it hits. American BankerThe crisis isn't over Victoria Finkle | deputy Washington bureau chief

It has been long argued that American income inequality was, in the past 40 years or so, exceptionally high compared to other OECD countries. The latest results available by Luxembourg Income Study that harmonizes income concepts across countries show inequality in disposable (per capita) income in the US to be 41 Gini points, that is, higher than in any other similarly rich country (Germany’s Gini is 32, British 35, Italian 35, Dutch 28). So, this part is not controversial.What is more...

Thousands of years ago, money was a means of debt payment, archaeologists and anthropologists say. Useful summary of the history.Science NewsConflict reigns over the history and origins of money Bruce Bower

Politics don’t matter; market forces shape our world. So ran the dominant ethos before 2008. Adam Tooze, the author of a landmark book, says it was always an illusion The City of London decided to face East as it saw the huge profits that could be made in China. But China's huge credit boom could bring the Chinese economy crashing down, says Adam Tooze, and then the City of London will be the first Western domino to fall. Alan Greenspan, Gordon Brown, and the neoliberals thought that...

Part 1 is here if you missed it when linked to here at MNE when it came out. The post begins with an analysis of geopolitics that is quite good. Its' a long piece and this is the most section that is most relevant to current events. Williams sets up a hypothetical scenario to examine the relevance of MMT to the issue has he has constructed it, which I think is a "good move." The future is uncertain, of course, so it makes sense to address a hypothetical case that seems to be...

Short and important.Economic Sociology and Political EconomyThe Sociology of Quantification: Seeing like Numbers Oleg Komlik | founder and editor-in-chief of the ES/PE, Chairman of the Junior Sociologists Network at the International Sociological Association, a PhD Candidate in Economic Sociology in the Department of Sociology and Anthropology at Ben-Gurion University, and a Lecturer in the School of Behavioral Sciences at the College of Management Academic StudiesSee alsoStatistical...