Mike Norman Economics

Moving where the market is.Gives import substitution new meaning.Sputnik InternationalFrench Farmer Makes Fresh Start in Diary Production in Russian Village

More than a century ago, the effective operation of the public economy was a significant, active concern of economists. With the insurgence of market-centrism and rational choice economics, however, government was devalued, its role circumscribed and seen from a perspective of “market failure.” As Backhouse (2005) has shown, the transformation in economic thinking in the latter half of the 20th century led to a “radical shift” in worldview regarding the role of the state. The very idea of a...

The first half of the twentieth century was a challenging time for economics. The Great Depression wiped out incomes, investments, and most importantly, optimism. But when the traditional laissez-faire approach proved ineffective, the work of Keynes and FDR showed that there was another way. The New Deal employed American workers directly and restored confidence among business owners. Today, we could benefit from a similar program. It’s time for a new New Deal, or a Job Guarantee Program,...

This sounds radical. I hope the British Labour Party manage to turn things around and be a model to the rest of the world as the rise of the right in Europe, the US, and Latin America, bothers me. I always thought that mankind was moving forward towards modernity, enlightenment, and progressiveness and wars would be a thing of the past, but it seems that ugly, primitive tribalism is on the rise. Mark Blyth says we are hard wired for this, that we tend to stick together with our own group/...

The Guardian spreads more conspiracy theories. KVJonathon Cook This is truly disturbing. The Guardian has published a shocking report that not only has Russia’s Vladimir Putin been using social media to disrupt elections in the world’s finest democracy, the United States of America, but he has now found a way to worm his black propaganda into the minds of Hollywood’s unsuspecting glitterati. If this is not stopped, the Guardian reports, there is a real danger that the Academy judges may...

Neoliberalism is not about creating happiness and joy, it is about creating misery, depression, anxiety, unhappiness, and insecurity to keep people on their toes to get as out of them as possible.  No rest, no hope, just long hours at work, then a few beers at the weekend. And there's probably no decent pension at the end for most people nowadays. But the games and sports on TV keep people occupied.  KV Time to ‘fess up: I don’t understand economics. I’ve always had a sneaking suspicion that...

A group of leading alternative economists make predictions for 2008. Thorium nuclear reactors are now viable, but the US industrial-complex has been trying to stop its progress because they can't manufacturer nuclear weapons from them.  And, disturbingly, the rise of the hard right in Latin America.David Graeber says how the only thing nice thing Trump has done is try to make peace with Russia, but the liberal press attack him on that. Ann Pettifore seems to be a Corbyn supporter,...

February 08, 2018 "Information Clearing House" - Countering Russia has become a lucrative industry in Washington. In recent years, the think tank business has exploded. But who funds these organizations, who works for them and what are the real agendas at play?From the start, let’s be clear, the term "think tank" essentially amounts to a more polite way of saying "lobby group." Bar a few...

This week economist Nouriel Roubini said bitcoin is going to crash to zero. RT talked to Max Keiser, host of RT’s Keiser Report, about the validity of the prediction. “There are several arguments that can be made critical of bitcoin on technical grounds, and Roubini never mentions these, therefore offers no room for intelligent debate,” Keiser said. “Roubini’s comments are straw man arguments meant to deflect rather than elucidate." According to Keiser, “Roubini feels compelled...

Another twisted in a twisted tale. ReutersRussian offering info on Trump bilked U.S. spies out of money: NY Times StaffAlsoThe InterceptU.S. Secretly Negotiated With Russians to Buy Stolen NSA Documents — and the Russians Offered Trump-Related Material, TooJames Risen