Mike Norman Economics

Jamie Galbraith recounts his transition from JG sceptic to JG advocate and the reasons for his change of mind.The BafflerWe WorkJames K. Galbraith | Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at the Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin

Now that progressive leaders (Bernie Sanders, Kirsten Gillibrand and Corey Booker) have placed a proposed “Job Guarantee” program onto the mainstream political stage, it is essential they begin explaining the proposal’s underpinning macro-economic logic. Otherwise they lay themselves, and the proposal itself, wide open to scathing public ridicule—as exemplified by a recent Megan McArdle op-ed in the Washington Post (“A federal job for everyone?” April 25, 2018). But what should they be...

The dollar rally has been caused by ONE THING and now that thing is ending.

Since 2010 we have been investigating and reporting on activities of the billionaire Koch brothers’ political funding network to subvert democracy in the United States. Wall Street On ParadeWas that a Koch Brothers’ Agent Who Pounded on our Door after We Wrote a Critical Article? Pam Martens and Russ MartensSee also They’re spending $20 million to convince voters of the benefits of the GOP’s central achievement. BloombergKoch-Backed Groups Are Selling Trump’s Tax Cuts Door-to-Door Ahead of...

The Sino-American "trade war" — economic warfare by another name — seems to be escalating. China is showing no signs of backing down.Zero HedgeChina Warns Trump "We Will Outlast You" As US "Significantly Escalates" Trade War Tyler Durden

Two summits – the cross-border handshake that shook the world between Kim and Moon in Panmunjom and Xi and Modi’s cordial walk by the lake in Wuhan – may have provided the impression Eurasia integration is entering a smoother path. Not really.... The way the soft power stacks up China = peace and US = war. Who is "winning"?Asia TimesEurasia torn between war and peace Pepe Escobar

Wishful thinking replaces intelligence.Strategic Culture FoundationNo, Your Intelligence Is Actually Bad. Very Bad Patrick ArmstrongSee also As recent events in Syria suggest, Russia has found an effective way of keeping aggressive Western powers at bay with state-of-the-art missile systems and electronic warfare methods – much of it reportedly developed by young scientists and on the cheap… "Like I said in my address to the Federal Assembly, we create second-to-none and state-of-the-art...

Pipelines.Tidbit. Professor Fadhel Kaboub happens to be an MMT economist.Renegade Inc.WWIII at Syria’s doorstep: Who stands to gain?Claire Connelly

The six Russian national security documents issued since Putin first became president in 2000 display a remarkable conceptual consistency.1 They argue that a polycentric world is emerging and shifting the balance of power from the West to the Asia-Pacific region.2The West is attempting to prevent this, according to Russia, and this will mean greater competition over values and less cooperation in combating global threats like migration, pandemics, global warming and resource scarcity....

Egypt’s monetary system began with barter. It was primarily based on agriculture – grain. This evolved into official Graineries and a farmer would then take his crop to the Grainery and receive a receipt. With time, the monetary system evolved where people would then accept these receipts (paper money) in payment. The receipt  would have been a credit slip representing the liability of the granary.Armstrong EconomicsThe First Representative Form of Money Martin Armstrong