Mike Norman Economics

Having a concise understanding of the monetary system is what MMT gives, but you need mental game, too.

Krugman believes that Trump is threatening to destroy America’s great “empire” and that this is bad, because our country’s “empire” is good and noble. Trump, Krugman suggests, is an aberrant departure from the lofty values and ideals that have guided our foreign policy for most of the past century. Unfortunately, Robinson doesn't cite the warning of the founding fathers about avoiding entangling alliances, and that failure to do so would insert the fledging US into the same politics as...

In previous articles (example), I have been arguing that investment is the major driver of the private sector cycles. (I am using the national accounting definition of investment, and not the act of purchasing financial securities.) We can now turn to the data, and the important question: how are we doing right now?… There are a number of categories of expenditures that are all lumped under the notion of investment. The major categories of interest are: Investment by government (which is...

Bill excoriates the UBI.Bill Mitchell – billy blogThe plaintive, I just want to do my art!Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

George Monbiot has an article in the Guardian today as to why the UK is better off staying in the EU because he says the Brixitors just want to push the UK towards s more corporate, neoliberal system with closer ties to the US. He might be right, but I said in CiF that the EU is neoliberal too. I got some stick for that in the replies so I posted this video by Dr Marek Neuman who captures how the EU is going neoliberal. This is an old video so things are worse now. KVDr Marek Neuman explains...

Unusual to find praise for a radical "Ivy League" leftist in The American Conservative, but here it is. In Defense of Howard Zinn The American Conservative David Masciotra

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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