Mike Norman Economics

Must-read in full. It's short and to the point.The meaning of "value" is one of the most pertinent questions in economics and political economy. Michael Hudson has been emphasizing this for some time, as have Marxists and Marxian. Consideration of value of other than as price revealed in competitive markets is ruled out in conventional economics by methodological assumptions. What we value and how we value it is one of the most contested, misunderstood and important ideas in economics....

Once Britain lost its empire, it managed to secure a degree of global influence by throwing in its lot with the US as a junior partner in Washington’s quest for global hegemony. And if the 21st century tells us anything so far, it is that the centuries’ old colonialist mentality of the British state has not gone away: the mindset of Empire, conquest and duplicity persists.… British elite trying to remain relevant on the world stage and in the great game.Colin Todhunter delivers a blistering...

And this is very is even better. Boy, listen to this Professor Jeffrey Sachs talk, no messing here, he says the CIA and Saudi Arabia went into Syria to destabilise the country to get rid of Assad. That's the US messing in another countries politics to change a leader - that's serious. [embedded content] Bombshell: Professor Stuns MSNBC Panel On Syria

Jimmy Dore is so good, and this video excellent. I wrote in the comments under another another Jimmy Dore video that he is one of the most important people on the left right now. He can put serious politics across in a very entertaining way.  [embedded content] This video below goes over the same ground.  [embedded content] Michele Lastella explains how, why and what is really happening behind the war in Syria. Mass media is hiding the truth about most of the main news.

The reality is that strike warfare—long range strikes by planes and missiles—has rarely achieved its advertised strategic consequence. Yet it remains a dangerous, drug-like chimera to states desperately searching for some sort of easy, low-cost fix in the search for influence in the chaotic international system. Like all drugs, the initial rush feels great, but the long-range addiction is, in the end, far more destructive, dangerous, and difficult (if not impossible) to kick.… Yet despite...

A survey by FAIR of the top 100 papers in the US by circulation found not a single editorial board opposed to Trump’s April 13 airstrikes on Syria. Twenty supported the strikes, while six were ambiguous as to whether or not the bombing was advisable. The remaining 74 issued no opinion about Trump’s latest escalation of the Syrian war. This is fairly consistent with editorial support for Trump’s April 2017 airstrikes against the Syrian government, which saw only one editorial out of 47...

The emerging world is catching up fast.World Economic ForumThe world's biggest economies in 2018 Rob Smith

"Compounding factors." For weeks, British Prime Minister Theresa May and Foreign Secretary Boris Johnson have insisted that there is “no alternative explanation” to Russian government responsibility for the poisoning of former double agent Sergei Skripal and his daughter Yulia in Salisbury last month. But in fact the British government is well aware that such an alternative explanation does exist. It is based on the well-documented fact that the “Novichok” nerve agent synthesized by...

Knight’s uncertainty concept has an epistemological founding and Keynes’ definitely an ontological founding. Of course, this also has repercussions on the issue of ergodicity in a strict methodological and mathematical-statistical sense. I think Keynes’ view is the most warranted of the two. The most interesting and far-reaching difference between the epistemological and the ontological view is that if one subscribes to the former, Knightian view – as Taleb, Haldane & Nelson and “black...

Some Republican policymakers continue to propose basing eligibility for assistance programs on participants’ ability to meet strict work requirements — most recently with House Agriculture Committee Chairman Michael Conaway’s proposal to reauthorize SNAP (formerly food stamps)[1] — despite a lack of credible evidence that the requirements would work as intended.[2]To build support for work requirements that take away assistance from adults who cannot work a set number of hours per month,...