Mike Norman Economics

Perception about immigration.Marginal RevolutionTrump understands this, perhaps you do notTyler Cowen | Holbert C. Harris Chair of Economics at George Mason University and serves as chairman and general director of the Mercatus Center

Summers comes out for a job guarantee and offers some qualifying comments. Overall positive.Maybe not an exactly a VSP endorsement of MMT or Alexandria Ocasio-Cortez, but close enough to be considered a big win for the up-and-comers.It is a wake-up call to establishment Democratic policymakers as well as encouraging progressives.Larry SummersA jobs guarantee — progressives’ latest big ideaLawrence H. Summers | Charles W. Eliot University Professor and President Emeritus at Harvard...

In examining the implications for an exit from a currency union, one of the issues that arises is the proportion of public debt that is issued under foreign law. This is a separate issue to the implications of foreign-currency denominated debt. Both issues are problematic and compromise a government’s capacity to remain solvent. I covered the former issue to some extent in my 2015 book – Eurozone Dystopia: Groupthink and Denial on a Grand Scale – when I was considering different strategies...

America's largest nail manufacturer may be forced out of business by Labor Day.Trump's steel tariffs are backfiring. He is trying to protect the American steel industry but an American nail manufacturer says says it will go out of businesses unless it gets cheap Chinese steel to compete with, you guessed it, cheap Chinese imported nails.And Harley Davidson says it will be affected by Europe's retaliatory trade tariffs so it might move its production abroad which would be a shame as much of...

Viral MAGA...I'M LITERALLY IN TEARS RIGHT NOW BECAUSE OF PRESIDENT TRUMP!! pic.twitter.com/ZGBzKsnPSL— Henry Davis (@Henryhahadavis) June 29, 2018

This came to me as an email, so no link to a site, so I'm putting it out in full, with the video. KVThis is Trump’s nightmare. I'm writing minutes after the victory of the Bernie Sanders of Mexico, Andres Manuel Lopez Obrador. Everyone calls him, “AMLO.” This is actually AMLO’s re-election: He first won the presidency in 2006. But back then the thieving, scheming, blood-stained criminal gang that rules Mexico (and I’m being polite), declared AMLO’s dissolute opponent the winner. In 2006,...

Ironically, NATO is destroying the NATO countries. Poetic justice — Nemesis responding to hubris?Craig Murray BlogNo Need For Nato Craig Murray, formerly British ambassador to Uzbekistan and Rector of the University of DundeeSee also Most significantly, the DoD had within its objectives to ‘deter war’. This has been removed.“The Department of Defense’s mission is to provide lethal Joint Forces to protect the country’s security and maintain US influence overseas,” it reads on the website....

Though Alibaba co-founder Jack Ma may think Bitcoin is in a bubble, the firm still believes in blockchain, the technology underlying cryptocurrencies. Ant Financial, Alibaba’s $150 billion financial affiliate, launched a blockchain-based service that lets Hong Kong’s large Filipino working population send funds to family back home quickly and securely. For now, the program is in a three-month trial period during which transaction fees will be waived.... FortuneAlibaba's Ant Financial Just...

Nicola Headlam is, I think, right with respect to “how the rules of the economy are set”: “Somehow, someone, somewhere made these rules up. They aren’t laws of nature.” And they determine “who’s got what and where and why”. The question is, how do we teach economics so that that message gets through? What to do? Start calling BS for starters. This is yet another example of economics as philosophy, which is rationally based, rather being than science, which is empirically based. This is a...

The West has ransacked Africa and India for centuries causing massive poverty in those continents, and then the Western destruction of liberal democracies in the ME also caused more  poverty and migration. But now we have the latest Western backed wars in Africa causing massive migration.  KV Having destroyed the lives of working people overseas and overthrown progressive leaders like Libyan President Gadhafi and Honduran President Zelaya, millions were forced to become immigrants. Iraq,...