Mike Norman Economics

Jason Smith calls out Dirk Bezemer (who now identifies as an MMT economist). Again the difference among 1) scientific prediction based on generating testable hypotheses from a theory, 2) forecasting probabilities of outcomes from data, and 3) foreseeing and forewarning based on contingencies.Information Transfer EconomicsNo one saw this coming: Bezemer's misleading paper Jason SmithSee also On occasion when I mention things about econ twitter or my blog, my wife responds sarcastically...

Wow. And they report this on Marx's birthday too... ouch!Apple $AAPL Q2 Numbers:* $61.1B in Revenue* $13.82B in Net Income* $15B in Cash Flow* 52.2M iPhones. X is the most popular* 9.1M iPads, 4.1M Macs* $100B additional stock buyback* 16% raise in dividend https://t.co/gM2AOPP3vx— Adam Nash (@adamnash) May 1, 2018

Corporate banks have delivered steady returns but face daunting challenges. To succeed in the coming years, they need to find another gear. McKinsey InsightsBuilding the corporate bank of the future The digital transformation of any enterprise is a herculean task requiring a willingness to embrace cultural change, the ability to immerse the entire organization in the customer journey, and a total commitment to digitize to the core. DBS Bank Chief Information Officer David Gledhill shares...

The first thing that should be noted is that while Duncan is indubitably one of the leading living theorists of Marxist economics, he does not consider himself to be a "Marxist," but rather a student of Marx, if a deeply sympathetic one. This is a sensitive matter as he was turned down for tenure at Stanford largely because he was accused of being a "Marxist economist" when he started publishing papers and books on Marxist economics. He has always sais that his true ideology is his...

If you didn't already know. Radical Political EconomyThe Brief Origins of May Day David Fields

Okay, it's basic stuff, but you can send it on to your friends, or whatever. I put it on Facebook. [embedded content] In this interview we talk to Stephanie Kelton, Professor of Public Policy & Economics, author and economic advisor to Bernie Sanders' presidential campaign in 2016, about Modern Monetary Theory (MMT) and the basic economic concepts related to it.

[embedded content] In the second part of the interview with the Senior Editor and Founder of The Real News Network, Paul Jay, we continue the discussion on the threats facing humanity today. In addition we talk about whether the basic income could enhance political participation & the consumption of information produced by independent media outlets. Lastly we examine the importance of taking into account historical context when relating to current issues. We are in very difficult times,...

[embedded content] In this Majority Report clip, Sam Seder and Professor Richard Wolff discuss how Marxism and modern monetary theory are a match made in heaven. I wondered when Richard Wolff would cotton onto MMT. He say's the MMT people don't say what they will spend the money on, but 'we' do. KV

Don’t get all excited. It’s a good ol’ fashioned short squeeze.

Today, May 1, we struggle not to forget the sacrifices of generations of workers to etch onto the world’s collective conscience the crucial principle that labour is not, and can never be, just another commodity. We struggle to remember past struggles so that the next struggles can be won in the name of humanism. The 1st of May commemoration is not an exercise in remembrance alone: Today’s generation is struggling against the same monsters that crushed the workers in May 1886 in Chicago –...