Mike Norman Economics

This is false; monetary policy has a very significant effect on economic activity... more than is generally understood."The serious flaw in monetary policy is that it may have little or no effect on the flow of aggregate demand." https://t.co/lVtSqAtghR— Pedro da Costa (@pdacosta) January 5, 2018

Regime change is unlikely but what is in play is setting the scene for a further renewal of economic sanctions….Asia TimesWhy there won’t be a revolution in IranPepe Escobar

Money and brains are both quantum phenomena – so it's not surprising that economics is overdue for a quantum revolution... AeonEconomics is quantum David Orell

Social justice folks picking on  MMT. Just before Christmas, Donald Trump signed the Republican tax bill which many predict will exacerbate wealth inequality in the country. Analyses project it will add over $1 trillion dollars to the deficit.For all the talk about the national deficit and why it’s the reason our government can’t afford to improve healthcare or education, these developments reveal profound layers of hypocrisy. They show how deficit-talk has constrained political...

As I am led to understand it, this transaction would soon result in a $31B deposit (15.5%) into the Treasury account.Hard to see the deficit going up under these conditions of "repatriation" unless the govt starts to increase withdrawals by the same type of amounts; which isn't going to happen as they think we are "out of money!"."Deficit too small!" crowd and the "Trillion Dollar Deficit!" club (which btw is EVERYBODY...)  might see some exploding heads... Dude. https://t.co/zY3gRC30UE —...

Schumpeter’s theory is interesting for several reasons. It was formulated at the same time as Lenin’s and Luxemburg’s and clearly with the knowledge of the two. It reacts to the exactly the same events as theirs. It is different though and it was held by Schumpeter throughout his life. The key text for Schumpeter’s theory is “The sociology of imperialisms” (note the plural) published in 1918-19. It is a very long essay of some tightly printed 80 pages in its English translation. Schumpeter...

Background on international payments systems and Western monopoly — so far. While Russia's exclusion from SWIFT would be painful, there are workarounds, and the net effect would be to hasten the already developing de-dollarization that taking place owing the the US weaponing the USD-based system. Russia and China have already been taking steps to isolate themselves from a weaponized dollar. Now, it is a matter of time.The Vineyard of the SakerRussia without SWIFT KakaousiaSee also "SBP...

With any country that, like Iran, has been the subject of acrimonious debate in Washington, pronouncements by American observers about events in that country have more to do with politics here than with what is going on over there. So it has been with much of the spinning and interpreting of protests in Iranian streets during the past few days. Some guidelines for intelligent, responsible, and useful commentary on those protests are in order, and applicable no matter what are the policy...

It's laughable how Iran has been picked out as a rogue state but Israel, which is brutal to the Palestinians, and Saudi Arabia, which spreads international terrorism, gets hardly any criticism. Israel is not surprisingly most active in patrolling the Internet as it is keen to keep out any material sympathetic to the Palestinian cause or critical of Israeli treatment of Arabs. Its security services scan the stories being surfaced and go to the service providers to ask that material be deleted...

Good article about the political situation in Iran.Here is an aside. “The policy of the United States should be regime change in Iran,” Sen. Tom Cotton (R-Ark.) has said. “I don’t see how anyone can say America can be safe as long as you have in power a theocratic despotism.” Of course, this ignores US support of Wahabi and Salafi Saudi Arabia, Qatar, and UAE, which are far more repressive theocratic dictatorships than Iran's. Then, there is Israel, an apartheid state that is in effect a...