Mike Norman Economics

Here, "society" is being used as a metaphor rather than a description. I would prefer to use "system" rather than "society," and to compare biological systems with social systems, since this is more descriptive and less evocative. At the same time, I agree that the use of "society" is legitimate and useful in biology and evolutionary theory.   There are three major types of systems, corresponding to the three major branches of science — physical, biological, and social. There are...

When David Vines asked me to contribute to a OXREP (Oxford Review of Economic Policy) issueon “Rebuilding Macroeconomic Theory”, I think what he hoped I would write on how the core macro model needed to change to reflect macro developments since the crisis with a particular eye to modelling the impact of fiscal policy. That would be an interesting paper to write, but I decided fairly quickly that I wanted to say something that I thought was much more important.In my view the biggest...

Not a bad article considering that Project Syndicate is an organ of the corporate elite. The author does recognize that the economic protest is the result of President Rouhani's neoliberal program to deliver the promised increase in prosperity that neoliberals assume to be widely distribute by trickle down. So, even though the article is written from the neoliberal point of view, it does admit the failure of neoliberal reformers to deliver on their promises to the country as a whole,...

China coming on strong. It still has a way to go though.The Unz ReviewChinese Science Anatoly Karlin

Since the outbreak of mass demonstrations and unrest in Iran last week, US media have mostly busied themselves with the question of not if we should “do something,” but what, exactly, that something should be. As usual, it’s simply taken for granted the United States has a divine right to intervene in the affairs of Iran, under the vague blanket of “human rights” and “democracy promotion.” (The rare exception, such as an op-ed by ex-Obama official Philip Gordon—New York Times,...

The US Central Intelligence Agency has, according to multiple investigative reports from both mainstream media outlets and human rights organizations, operated numerous “black sites” across the world. These locations, according to the reports, are secret prisons used to house “ghost prisoners.” Those sent to these places are held captive without being charged with any crime and are not allowed any form of legal defense. Ghost prisoners are subject to what the CIA calls “enhanced...

Rodriguez said the Petro is backed by the resources that the country already has, including energy and mineral reserves. Venezuela’s Vice President of Communication and Culture, Jorge Rodriguez, said that its new cryptocurrency will avoid financial attacks. At a meeting in Miraflores Thursday recapping presidential management in 2017, Rodriguez said the Petro is backed by the resources that the country already has, including energy and mineral reserves. Addressing the difference between...

Backgrounder. Jatras is one of the few mentioning that some of the economic frustration is the result President Rouhani's neoliberal "reform" that shrank the the welfare state and expanded the market state to improve the economy and integrate Iran into the global economy after the nuclear deal and lifting of some sanctions. This policy further disadvantaged the have-nots that make up the bulk of the protestors. The neoliberal answer is to wait patiently; it takes time for the gains to...

US and Israel back another terrorist group (in addition to Al Qaeda and ISIS) when it is useful. Fort RussIran: internal grievances, external agendas Jay Tharappel | Guest Contributor See also Wikipedia People's Mujahedin of Iran (Mojahedin-e Khalq, acronyms MEK, MKO) See also  The Guardian (23 Sep 2012)Five lessons from the de-listing of MEK as a terrorist group Glenn Greenwald What could go wrong with getting in bed a bit with the devil as long you don't worship him? Using...

Longish and detained, but worth a read if you are following this debate.Lars P. Syll’s BlogDani Rodrik’s Ten CommandmentsLars P. Syll | Professor, Malmo University