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Mike Norman Economics

Tyler Cowen — *Adam Smith: Systematic Philosopher and Public Thinker *

That is the new, excellent, and detailed book by Eric Schliesser, a political scientist at Amsterdam. I would say that Schliesser is a very learned “left Smithian,” and that you should take the subtitle very very seriously. Should be aware of. Schliesser contradicts the neoclassical and Samuelson views of Smith. Marginal Revolution *Adam Smith: Systematic Philosopher and Public Thinker * Tyler Cowen | Holbert C. Harris Chair of Economics at George Mason University and serves as...

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RussiaFeed — CONFIRMED: UN report says West’s anti-Russian sanctions have failed

The shot that ricocheted back. Europe hurt more than Russia.This is a fairly long post that looks at the Russian economy in some depth.Incidentally, if the US launches a trade war with China, as Bannon and the Trumpistas want, the same result is likely. China will turn its export-led industry toward domestic consumption, which it needs to do anyway. As China's growth takes off internally that will greatly accelerate China's perceived threat as China's domestic economy catches up the...

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Glenn Greenwald — Yet Another Major Russia Story Falls Apart. Is Skepticism Permissible Yet?

This official story was explosive for obvious reasons, and predictably triggered instant decrees – that of course went viral – declaring that the legitimacy of the outcome of the 2016 U.S. presidential election is now in doubt....They were one small step away from demanding that the election results be nullified, indulging the sentiment expressed by #Resistance icon Carl Reiner the other day: “Is there anything more exciting that the possibility of Trump’s election being invalidated &...

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Andrey Afanasyev — Information warfare: tools and methods

It's no secret that the US runs the organization BBG - Broadcasting Board of Governors - which is responsible for coordinating the international American media abroad, and in Russia. For instance, these are well-known media "Voice of America" and "Radio Liberty". Also, a new project "Present Time" has recently appeared and it is designed for a new audience in social networks. However, it is worth paying attention to how these three media work. And mostly they work methodically and as a...

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Asia Unhedged — Freed from White House role, Bannon takes aim at China

Bannon-backed Ray Moore defeated the  Trump-backed establishment candidate in the Alabama GOP rimary for senator. Fresh from victory, Bannon now smells blood in the water. Trump is now isolated between the GOP establishment he needs to get things done in Washington and his anti-establishment base that wants the "swamp" drained, which means the establishment of both parties. US business is bound at the hip to China as a result of Chinamerica policy. Since the GOP establishment is funded...

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FRED Blog — How Y=C+I+G has evolved : 70 years of quarterly national account data

FRED now has 70 years of quarterly national accounts data for the United States, which is an opportunity to look back at how the U.S. economy may have changed since 1947. In the graph above, we look at the three main expenditure components of real gross national product: real consumption, real investment, and real government expenses. They’re normalized to 100 for the first quarter of 1947, to make them more comparable.... FRED BlogHow Y=C+I+G has evolved : 70 years of quarterly national...

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