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Mike Norman Economics

Oscar Jorda — The rate of return on everything

Important. The rate of return on capital plays a pivotal role in shaping current macroeconomic debates. This column presents findings from a new dataset covering returns of major asset classes in the advanced economies over the last 150 years. The data offer new insights on several long-standing puzzles in economics, and uncover new relationships that seem at odds with some fundamental economic tenets. VOX - CEPR's Policy Portal The rate of return on everything Òscar Jordà, Katharina...

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Nestlé Caught Stealing Billions of Gallons of Water from California—No One Arrested

Nestlé has been taking more than 60 million gallons of water per year from the San Bernardino National Forest, according to California regulators, which amounts to billions of gallons of water stolen over the past 68 years — without any valid basis of right to the water. A two-year investigation by the California State Water Resources Control Board revealed that Nestlé, which sells water under the Arrowhead brand, lacked the proper permits for the vast majority of the water taken....

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Baker: Dumb and Dumber: Trump on Amazon and the Postal Service

Left Baker takes a partisan shot at Trump here at "Counterpunch" which is revealing. The Postal Service has a huge amount of fixed costs in the form of retiree benefits and especially retiree health benefits.  Congress has required that the Postal Service prefund 75 years of retiree health benefits. This requirement sets the Postal Service apart from private businesses, who do little or no prefunding of retiree health benefits. It also accounts for almost all of the Postal Service’s losses...

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Sputnik — Transnational Networks are ‘Disempowering Parliaments’ – ‘Shadow Powers’ Author

Does a country like Germany actually need a real government and a proper parliament? For global business, at least, the answer is no. Transnational structures have long taken over the tasks of parliaments and governments, telling them what they should do. Politicians, who are officially responsible, are no more than discussion partners and implementers.This is the situation described by commentator Fritz R. Glunk in his new book, "Shadow Powers: How transnational networks determine the...

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John McMurtry — Life Grounding Marx 150 Years After Capital

If you are at all interested in Marx, you will likely find this interesting and even provocative. It views Marx's work in terms of evolutionary theory and introduces "life-capital."CounterpunchLife Grounding Marx 150 Years After CapitalJohn McMurtry John McMurtry is a Fellow of the Royal Society of Canada whose work is translated from Latin America to Japan. He is the author of the three-volume Philosophy and World Problems published by UNESCO’s Encyclopedia of Life Support Systems (EOLSS),...

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Marshall Steinbaum — Why Are Economists Giving Piketty the Cold Shoulder?

Important.  Marshall Steinbaum catches us up on what's happened since the publication of Piketty's Capital in the 21st Century three years ago. Actually, lots.  But the economics profession has largely ignored it since it involves distribution and the economics profession doesn't consider distribution irrelevant.Boston ReviewWhy Are Economists Giving Piketty the Cold Shoulder?Marshall Steinbaum | Fellow and Research Director at the Roosevelt Institute

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Other voices on Iran — links

What you won't hear in the lamestream media aka the spin room and the echo chamber.The Vineyard of the SakerIran protests: Western salivation, agitation & desperation Ramin Mazaheri | chief correspondent in Paris for Press TV LobeLogIran Protests: Civil Rights Movement Or Revolution? Reza Marashi | director of research at the National Iranian American Council and previously served in the Office of Iranian Affairs at the U.S. Department of State Moon of AlabamaIran - Early U.S....

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