Mike Norman Economics

The Job Guarantee is finally getting the public debate it deserves and criticism is expected. Building on several decades of research, the Levy Institute’s latest proposal analyzes the program’s economic impact and advances a blueprint for its implementation. Critics have taken note and are (thus far) restating the usual concerns, but with a notably alarmist tone.... The usual shills for capital contra labor. Multiplier EffectThe Job Guarantee and the Economics of Fear: A Response to Robert...

Again or still? Looks like the difference between low and high boil.Bond Economics Euro Crisis (Again)Brian Romanchuk

Art of the Deal: North Korea still wants to meet with the Trump administration saying, "we are always willing to provide time and opportunity to the U.S. with a generous and open mind" https://t.co/FtWMSCfii7 — MPR News (@MPRnews) May 25, 2018 Double triggers!! #winning  #4Dchess

How (logically) could she have been "the Roman goddess of money" when the English language figure of speech word "money" is itself a transliteration of her name in the first place???Impossible for her to be "the Roman goddess of money!".... “Slave Profits”, the recycling of the Roman goddess of money as a mulatto, the Goddess Moneta. The slaves toiled while she got the money. pic.twitter.com/D03S9qHVFk — Onlyindreams (@OnlyindreamsFCO) May 25, 2018

What China is up to.Tom LuongoPetroyuan is Only the Beginning, Pop Goes the Metals Market

Wandering the streets of Shanghai to admire the architecture, the head of one of the largest U.S. consumer banks recently found himself surrounded by a gaggle of teenagers.Entranced by their phones, they hardly made way for the banker. The teens were messaging, shopping and sending money back and forth, all without cash. Instead, they were using Alipay and WeChat. The scary thing for the American: Banks never got a cut. The future of consumer payments may not be designed in New York or...

More philosophy of economics, or foundations, if you prefer. Good read if you are into this. It runes along the lines of what amateur economist and working physicist Jason Smith has been saying about foundations.J. W. Mason's BlogThe Wit and Wisdom of Trygve HaavelmoJW Mason | Assistant Professor of Economics, John Jay College, City University of New York

It appears that Bolton was still pushing the idea within the administration earlier this month. The Washington Free Beacon reported on May 10 that a three-page paper outlining a regime-change strategy from a small far-right organisation called the Security Studies Group, with which Bolton is said to have close ties, was circulated among NSC officials. The quotes from the paper in the story make it clear that the strategy is based largely on seeking to exploit ethnic and religious conflicts...

The partnership between Facebook and the Atlantic Council is an attempt to ensure the grip of dominant imperialist powers – militaries, multinationals, banks, and philanthropists – who feel threatened by the unrestricted flow of information and anti-systemic narratives on social media. It's all about who controls the narrative. The Internet and social media are threatening elite control and they are now attempting to re-consolidate control. If you don't know know who the mark is, you are...

In my latest book, The Value of Everything, I have argued that such critiques are important but will remain powerless – in their ability to bring about real reform of the economic system – until they become firmly grounded in a discussion about the processes by which economic value is created. It is not enough to argue for less value extraction and more value creation. First, ‘value’, a term that once lay at the heart of economic thinking, must be revived and better understood.Value has...