Mike Norman Economics

Making it official. "The Cold War is back - with a vengeance but with a difference," [UN Secretary-General Antonio] Guterres said, noting that the safeguards which managed the risk of escalation during the first Cold War "no longer seem to be present."... Sputnik InternationalUN Secretary General: Cold War Resumed

Meanwhile in Brazil meet Jair Bolsonaro.The InterceptLula Goes to Prison, Deepening Brazil’s Political Crisis — as Military Waits in the Wings Leandro Demori

It could be that this tweet will go down in history like the German Empire's declaration of war on Aug. 1, 1914, or like U.S. Secretary of State Colin Powell's 2003 presentation at the United Nations ahead of the Iraq invasion. As a document that historians will analyze when retracing the road to ruin. But perhaps nothing will come of it. Perhaps Russian President Vladimir Putin will ignore the provocation. And that hope serves to illustrate the lunacy we are facing these days: The...

We propose these Theses as a challenge to the unhealthy intellectual monopoly of mainstream economics. These are examples – of the flaws in mainstream theories, of the insights that alternative perspectives have to offer, and of the ways in which a more pluralist approach can help economics to become both more effective and more democratic. This is an assertion that a better economics is possible, and an invitation to debate.... RETHINKING ECONOMICS & THE NEW WEATHER INSTITUTE33 THESES...

Pump-priming Keynesianism versus MMT macroeconomic stabilization. I think you can replicate these benefits [of the JG] through two recommendations I called for in my recent paper on job creation: Get macroeconomic policy right by ensuring aggregate demand is at a high enough level to support macroeconomic full employment Undertake lots of public investment that will create and sustain jobs, as well as providing crucial goods and services that private markets won’t Fails to consider the...

The latest, and by far the most serious, round of US sanctions against Russia has shown two things very clearly—neither of which has received much publicity in the comments so far. The first is the extraordinary power of the modern state. The second is that when powerful states impose sanctions that limit one’s access to markets, technology and capital, the only remaining option turns out to be autarky.... The goal US policy in advancing global hegemony (American Empire) is to isolate...

The Levy Institute Of Bard College was far ahead of anyone with its prescience on the fate of the U.S. economy (and also the world) before the crisis. So everyone should read them. Michalis Nikiforos and Gennaro Zezza have a new Strategic Analysis report.... The Case for Concerted Action“America First,” Fiscal Policy, And Financial StabilityV. Ramanan

Remember the legal controversy over the legality of "enhanced interrogation," "extraordinary rendition," and assassination. Now, it's illegal aggression. The US power elite does what it wants because it can. Who is going to hold American officials to account? This is what is at stake in the debate over attacking Syria. If you don’t think attacking the Syrian government is illegal, you are reduced to buying into the anti-constitutional nonsense of John Yoo and others like him. If you...

The interview doesn't go to plan when the British chemical weapons expert is puzzled as to why Assad would use chemical weapons now when he is winning the war and Trump says he's going to pull out of Syria. But the newsreader abruptly says she has to leave it there and cuts him off mid sentence. I bet this is flying all over the internet. Millions are catching on that the fake news is MSM that they see every night on TV. But I couldn't find the clip on YouTube, which has been...

There’s a danger that the question of whether we should intervene in Syria is becoming a left-right issue. Not only is this false, it’s a means of (deliberately?) ignoring the basic issue – one that is much more general than merely the conjunctural question of Syria.It’s false because there are many rightists who have doubted the case for military intervention, such as John Baron, Julian Lewis and, I gather, Kate Andrews on Question Time last night. I don’t think this is wholly because they...