Mike Norman Economics

Several related strands have come together in the last week of work and thinking. Today (September 11, 2023), of course, is a massive day in history and I am not referring to the year 2001. Today marks the 50th anniversary of the overthrow of the Salvatore Allende’s democratically-elected government in Chile by the US CIA and there local puppets under the leadership of General – Augusto Pinochet. I have also been following a trail of the antecedents of the Powell Manifesto (thanks to...

A Russian passenger jet built almost entirely with domestically manufactured components completed its first test flight on August 29, a launch that gave Yakovlev Design Bureau and United Aircraft Corporation’s (UAC) respective shares on the Moscow Exchange a buoyant lift.Designed by Yakovlev and manufactured by UAC at its Komsomolsk-na-Amure factory, the new Sukhoi Superjet 100 (SSJ-100) is a narrow-body regional aircraft with a range of 4,578 kilometers (2,472 nautical miles) that can carry...

You should not look at the war in Ukraine as an isolated phenomena with no bearing on the global economic order. The war in Ukraine is a symptom of the breakdown in the Western dominated “rules based” international order and this disruption is reverberating around the world. The recent coups in Africa, for example, are another sign that the vassals of the Western feudal lords are no longer willing to be de facto colonial subjects. They want some measure of independence and are turning to...

The de-dollarization of Russia-China trade is practically complete, according to Georgy Zinoviev, the director of the Russian Foreign Ministry’s First Asian Department, as cited by RIA Novosti.…The share of national currencies in Russian-Chinese payments is growing at an extremely rapid pace,” Zinoviev told the news agency. “At the beginning of 2022 it was hovering around 25%, now it is exceeding 80%.”...RT — Question More (Russian state-sponsored medMoscow releases Russia-China...

 "The natives are getting restless." Once the bear's claws tore away the veneer, a new era was launched. But it would not have happened without a fire-breathing dragon in the background. Now the long oppressed colonies are standing up. Empire is about securing cheap resources and cheap labor from the colonies, without which the lifestyle of the imperial elite  cannot be sustained.Consortium NewsPepe Escobar: No Respite for France as ‘New Africa’ Rises

Despite the rabble on the Right of politics that marches around driven by conspiracies about government chips in the water supply or Covid vaccines and all the rest of the rot that lot carry on with, the reality is that well-funded Right that is entrenched in the deepest echelons of capital are extremely well organised and strategic, which is why the dominant ideology reflects their preferences. That group appears to be able to maintain a united front which solidifies their effectiveness. By...

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 That didn't take long.Huawei's Mate 60 Pro is powered by a new Kirin 9000s chip that was made in China by Semiconductor Manufacturing International Corp (SMIC), TechInsights said in the report shared with Reuters on Monday.Huawei started selling its Mate 60 Pro phone last week. The specifications provided advertised its ability to make satellite calls, but offered no information on the power of the chipset inside....Buyers of the phone in China have been posting tear-down videos and sharing...

The usual response to critics who state things like I just did is “give me a better model.” The idea is that we need to replace one reductionist model with another reductionist model. The reasoning seems to be that economics is like physics, where a lot of the history of the field is doing exactly that. (Physicists might be getting into “complexity,” which may or may not be a mathematical pseudo-science. In any event, this is not what people have in mind when they compare economics to...

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