Mike Norman Economics

Peter Fleming tells what his book, The Death of Homo Economicus, is about. Economic Sociology and Political Economy Is Homo Economicus Dead? Peter Fleming | Professor of Business and Society at Cass Business School, City, University of London

With the world focused on the scary possibility of war on the Korean Peninsula, not many people paid a whole lot of attention to a series of naval exercises this past July in the Malacca Strait, a 550-mile long passage between Sumatra and Malaysia through which pass over 50,000 ships a year. With President Trump and North Korean leader Kim Jong Un exchanging threats and insults, why would the media bother with something innocuously labeled “Malabar 17”? They should have. Malabar 17...

US business über-guru Peter F. Drucker thought so.JSTOR DailyAre Free Markets Fictional? Livia Gershon

A look at employment compensation in Russia.Fort RussStudy: Highest salaries in Russia are not in Moscow SVPressa - translated by Inessa Sinchougovasee alsoRussian finance minister: Our deficit will not surpass 2% of the 2017 GDP Paul Antonopoulos

In the context of the New Great Game in Eurasia, the New Silk Roads, known as the Belt and Road Initiative (BRI), integrates all of China’s instruments of national power – political, economic, diplomatic, financial, intellectual and cultural – to shape the 21stcentury geopolitical/geoeconomic order. BRI is the organizing concept of China’s foreign policy for the foreseeable future; the heart of what was conceptualized, even before President Xi Jinping, as China’s “peaceful rise.” The Trump...

The flatter yield curve is not a recessionary signal, so what is it telling us? Much of this year’s earlier yield curve flattening represented a reversal of the 2016 steepening that accompanied surging economic growth and inflation expectations after the U.S. presidential election. Markets had bet that fiscal stimulus and infrastructure spending would spur growth and inflation. Long-term yields jumped in response. Those market expectations unwound over the course of 2017 when policy changes...

Bank of England — Bank UndergroundA prince not a pauper: the truth behind the UK’s current account deficit Rachana Shanbhogue, Macroprudential Strategy and Support Division, and Stephen Burgess, Macrofinancial Risks Division

The tax-reform bill that US Republicans are attempting to implement is economically indefensible and blatantly unfair. But the US has a much deeper problem: the Anglo-Saxon model of representative government is in serious trouble, and nobody seems to know how to fix it. Project SyndicateAmerica’s Broken SystemBrad DeLong | Professor of Economics, UCAL Berkeley

Say understood that supply and demand are reciprocal and mutually reinforcing. The New Arthurian EconomicsSay's Law and Say's Other LawThe Arthurian

MMT is mentioned, but the author buys into the criticism of MMT based on assuming central bank and Treasury consolidation, and he misses the key concept of Treasury issuance being a reserve drain in his criticism. He mentions Stephanie Kelton and gives a shout out to Scott Fullwiler, too. The post is also interesting as a look at popularized economics. Hughes cites an Izabella Kaminska post at FT Alphaville on MMT that is worth reading or re-reading as the case may be:  Why MMT is like...