Mike Norman Economics

Democracy 2.0 is having its own modern-day McCarthy moment: Millionaire [sic, should be "billionaire"] George Soros has published a blacklist of thousands of politicians, journalists, academics and celebrities ever to appear on Russian state broadcaster, RT, designed to intimidate anyone from ever appearing on the network which has already been defunded by NatWest, demonetised by social media giants Google, Facebook and Twitter which have rapidly become privately outsourced state...

Asked who they’d vote for if the elections were held this Sunday, 53 percent named Putin.... he Levada Center’s poll showed that 2 percent would vote for opposition leader Alexei Navalny.... Fewer than 1 percent said they’d vote for celebrity Ksenia Sobchak, who announced her candidacy last week. The former reality television presenter topped a separate poll on Thursday of Russia’s least trusted public figures....  Levada conducted its survey in 137 towns and cities across 48 Russian...

Counting on most Americans not knowing the difference between Russia and Ukraine?IrrussanlityFirst Arrest in Russia Scandal – for Being an ‘Unregistered Agent’ of Ukraine!Paul Robinson, Professor, Graduate School of Public and International Affairs, University of Ottawa

There is more than a little irony in Israeli prime minister Benjamin Netanyahu’s decision to attend a “celebration” dinner this week in London with his British counterpart, Theresa May, marking the centenary of the Balfour Declaration. Palestinian objections to the 1917 document are well-known. Britain’s Lord Balfour had no right to promise a “national home for the Jewish people” in Palestine, on the land of another people. But Israelis have been taught a different history in which they,...

Earlier this year, a Stigler Center paper by Luigi Zingales [Faculty Director of the Stigler Center and one of the editors of this blog] argued that market concentration can lead to a vicious circle, in which companies use market power to gain political power that in turn allows them to gain more market power, and vice versa. Zingales called this the “Medici vicious circle”: “Money is used to gain political power and political power is then used to make more money.”A new UN report shows...

The Occupy Movement perhaps first raised global awareness of the growing dissatisfaction with market-based capitalist economy. Banks too big to fail, government bailouts, and rising income inequality drew the ire of millions around the globe. Since then, the calls for a rethink of our economic paradigm have grown louder. One potential framing which has gained followers is Postcapitalism, popularized by Paul Mason in a book of the same name. Postcapitalism is not a return to Marxism, but...

That the CIA and FBI are still choosing what we should be allowed to see concerning who murdered John Kennedy may seem unusual, but there is hoary precedent for it. After JFK’s assassination on Nov. 22, 1963, the well-connected Allen Dulles, whom Kennedy had fired as CIA director after the Bay of Pigs fiasco, got himself appointed to the Warren Commission and took the lead in shaping the investigation of JFK’s murder. By becoming de facto head of the Commission, Dulles was perfectly...

US capitalism is again careening down blind alleys. Earlier it had crashed into the Great Depression from 1929 to 1933 before lurching into the New Deal. After 1945 it concentrated on rolling back the New Deal until it turned sharply to neoliberalism and “globalism” in the 1970s. That provided the comforting illusion of a few decades of “prosperous normalcy.” When the second major crash in 75 years hit in 2008, it exposed the debt-dependent reality of those decades. It also sent capitalism...

With ever bigger military budgets, and ever growing ambitions, the U.S. military is relentlessly building up potency, which is nevertheless always framed as defensive, even benign. Something tells me the Russians don’t see it this way. Bracing ViewsRelentlessly Building Potency: The U.S. Military Encircles Russia William J. Astore, retired lieutenant colonel (USAF) and history professor who has taught at the Air Force Academy, the Naval Postgraduate School, and the Pennsylvania College of...

Mostly about John Taylor who seems to have made the final cut for Trump's short list to replace Janet Yellen, along with Jerome Powell, who is now a member of the Fed Board of Governors. Should Fed policy be rule-based (Taylor) or discretionary (Powell)? David Glasner argues against John Tayor and in doing so, gives us a close look at Taylor and his rule-based approach to monetary policy.Uneasy MoneyLarry Summers v. John Taylor: No Contest David Glasner