Mike Norman Economics

Some falsely assume that as a result of neoliberal globalization the national state has largely been superseded by transnational capitalism to the degree that national sovereignty no long matters very much. International liberals think that this is a good thing, since competition among nation states has led to conflicts and conflagration.Bill Mitchell and Thomas Fazi argue otherwise. What has taken place rather is state capture. ...core capitalist countries have not been characterised by a...

Maldistribution. Symptom or cause? A market ideology that causes widespread misery has no future. The Automatic EarthIs Capitalism Dead or Merely Dying? Raúl Ilargi Meijer The transition from the age of hunting-gathering to the agricultural age wrought a drastic social, political l and economic transformation, as did the transition from the agricultural age to the industrial age. So it can be safely assumed that the transition from the industrial age to the information age will also...

When Marx’s theory of value is interpreted in a simultaneist way, it is relatively easy to calculate the ‘monetary expression of labor time’ (or MELT)....  There is an additional complication when it comes to measuring the temporal MELT. The temporal MELT is the appropriate measure if Marx’s theory of value is interpreted in a temporal way (as in the ‘temporal single-system interpretation’ or TSSI).... Wonkish. heteconomistOn Estimating the Monetary Expression of Labor Time in a Temporal...

Brad DeLong shows how Ricardo's version of economic liberalism based on free trade explained by comparative advantage is bourgeois liberalism that enriches the ownership class. Washington Center for Equitable Growth Ricardo’s Big Idea, and Its Vicissitudes Brad DeLong | Professor of Economics at the University of California, Berkeley

LOL: There is no universe in which this would be considered responsible. https://t.co/vWwTCFg8uh — CRFB.org (@BudgetHawks) October 21, 2017 “There was a time not long ago when many congressional Republicans demanded a budget that balanced within 10 years.” https://t.co/9LOfWo70Nk — CRFB.org (@BudgetHawks) October 21, 2017 "The Senate GOP has turned away from this goal, sprinting in the other direction..." https://t.co/RwuYqs6eX1 — CRFB.org (@BudgetHawks) October 20, 2017 "Some will...

Zero HedgeForget ISIS, "Government Corruption" Tops Americans' Biggest Fears Tyler Durden

In this essay we will examine two aspects of the same issue: the strategic partnership between Russia and China which is fast becoming a foreign policy, commercial and military alliance.... Meanwhile, our International Relations experts, who are generalists by definition, lack the in-depth knowledge of Russia to say something serious and valuable for policy formulation. The whole field of area studies has atrophied in the United States over the past 20 years, with actual knowledge of...

Now that President Xi Jinping has been duly elevated to the Chinese Communist Party pantheon in the rarified company of Mao Zedong Thought and Deng Xiaoping Theory, the world will have plenty of time to digest the meaning of “Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era.” Xi himself, in his 3½-hour speech at the start of the 19th Party Congress, pointed to a rather simplified “socialist democracy” – extolling its virtues as the only counter-model to Western...

PropOrNot caught out.RTAnti-Russia 'propaganda' group urges reporter to drop story on CIA arming Syrian rebels

Is the US now ruled by a military junta through soft coup?Moon of Alabama"Above All" - The Junta Expands Its Claim To Power b