Mike Norman Economics

Monthly ReviewThe Multiple Meanings of Marx’s Value Theory Riccardo Bellofiore The Guardian — The Long ReadYanis Varoufakis: Marx predicted our present crisis – and points the way out Yanis Varoufakis vox.euMarx and modern microeconomics  Samuel Bowles YouTubeMark Carney warns robots taking jobs could lead to rise of Marxism Michael Roberts BlogMarx 200: Carney, Bowles and Varoufakis Michael Roberts Michael Roberts BlogManagers rule, not capitalists? Michael Roberts Naked...

Some good quotations. The Case for Concerted ActionJoan Robinson And Nicholas Kaldor On Antagonism To Keynesian IdeasV. Ramanan

Backgrounder. Lots of pictures. And much that people in the West are unaware of regarding China and its historical relationship with the US. As with Russia, the US blew up its soft power with China.Interestingly, the turning point for both China and Russia seems to have been the US bombing of Serbia, a traditional Russian ally, during which the US also bombed the Chinese embassy in Belgrade and made a weak excuse for it.At this point, both Chinese and Russians realized that spreading...

Mike  Whitney lays out the plot for a soft coup. It is Donald Trump’s duty to defend the office of the President and the right of the American people to choose their own leaders through democratic elections. Both of those institutions are currently under attack, and there is a real danger that the republican system of government, which we have enjoyed for over 200 years, is about to be lost. So let’s cut to the chase: The results of the 2016 election have never been accepted by a small group...

Superb Schumpeter quote on credit as money. He gets it right. Keeper. BTW, Hyman Minksy was Schumpeter's student and MMT economist Randy Wray was a student of Minsky.Lars P. Syll’s BlogSchumpeter — an early champion of MMTLars P. Syll | Professor, Malmo University

It's not only a clash of systems, capitalism vs socialism, but also a clash of civilizations, Western bourgeois liberalism vs Chinese technocracy. SSince the world's largest economy comes to dominate geopolitically, only one system is viable in the final analysis (although China claims that other systems can co-exist).As China rises this clash will only intensify until one hegemon wins. The US sees the window of opportunity closing, while China realizes that time is on its side.This leads...

Donald Trump has issued a new ultimatum in his tariffs dispute with the European Union. Although his strategy may appear erratic, it has its own logic. Things could get dangerous if the EU decides to play his game. Explains the players and issues, as well as Trump's negotiating strategy.Are the WTO's days numbered?Spiegel Online American Roulette — Trump Tricks Trade Partners into Dangerous Game Martin Hesse, Peter Müller and Christian Reiermann

You won't read this is the corporate media since it contradicts the narrative. Lots of photos. Reprinted from We hold these truths, What About Christians In Syria (3 Apr 2018).Russia InsiderTreatment of Christians in Assad's Syria vs in US-backed 'Rebel' AreasJanice Kortkamp

Conservatives are about conserving and that means orienting toward tradition, that is, the past.  Classical liberalism was a product of 18th century thought, specifically "the Enlightenment." Attempting to return to the past in the 21st century, especially as far back as the 18th century, is a fool's errand. In this sense, orthodox Marxism is also conservative in that it looks to the 19th century, and "orthodox" economics in contrast to "heterodox" economics looks to the 20th...

Misleading title. The post is a list of links about global oil conditions.GeopolitikaAll Eyes On Iran As Oil Prices Soar