Mike Norman Economics

On May 6, 1997, just 4 days after coming to office in what was to become Tony Blair’s retrogressive regime, the then British Labour Chancellor Gordon Brown announced that Labour would legislate the so-called independence of the Bank of England. The BBC claimed this was the “most radical shake-up in the bank’s 300-year history”, which gave “the bank freedom to control monetary policy”. Gordon Brown’s legacy to the British people, of course, is in his famous ‘light touch’ regulation, which he...

Alexander Douglas replies to Simon Wren-Lewis on MMT.Stories by Alexander Douglas on Medium by Alexander DouglasSimon Wren-Lewis, MMT, mathsAlexander Douglas | Lecturer in Philosophy, University of St. Andrews

Apropos in light of all the furor over "Russian influence," what about Israeli influence through the American neocons? Philip Giraldi had the temerity to ask and found that it is not only politically incorrect, but it is also a firing offense.The Unz ReviewHow I Got Fired Philip Giraldi | former counter-terrorism specialist and military intelligence officer of the United States Central Intelligence Agency (CIA), Executive Director of the Council for the National Interest, and a founding...

Opportunities and challenges for one of the world's two most populous countries, China being the other, of course.  China is more in the spotlight of development, but India is also playing catch-up.  India has the disadvantage of being modeled on a Western liberal democracy when this is not traditional in India. While China has a homogeneous and now well-developed form of governance, India is still groping with the residual of the British Raj and is not yet as organized and focused as...

I would like to consider the possible impact of three innovations—virtual currencies, new models of financial intermediation, and artificial intelligence. Some of these innovations have already found their way into our wallets, smartphones, and financial systems. But that is only the beginning. Are you ready to jump on my pod and explore the future together? As one of your fellow Londoners—Mary Poppins—might have said: bring along a pinch of imagination! 1. Virtual currencies...

The combination of MMT full employment policies and the job guarantee is the best way to strengthen family financial stability. The United States, which has a sovereign currency, can do that. The European Union nations that lack a sovereign currency will frequently be unable to do so. Jobs, not simply income, are essential to many humans’ happiness and sense of self-worth.... New Economic PerspectivesThe Job Guarantee Should Unite Anyone Interested in Strengthening FamiliesWilliam K....

Ha ha ha!Mainly MacroWhy is MMT so popular? Simon Wren-Lewis | Professor of Economics, Oxford UniversityLars Syll weighs in too.Why MMT is so popular.

Income inequality has been rising so rapidly in the United States and around the world that it threatens to make economic growth less durable, according to research from the International Monetary Fund. "While strong economic growth is necessary for economic development, it is not always sufficient," four IMF economists write in a new blog. "Inequality has risen in several advanced economies and remains stubbornly high in many that are still developing," they added. "This worries...

Wassily Leontief quote from "Theoretical Assumptions and Nonobserved Facts." Lars P. Syll’s BlogMainstream economics — like butter scraped over too much breadLars P. Syll | Professor, Malmo University

[embedded content] Brother Nathanael is a character and this video is hilarious. If you enjoy Tom's posts you will like this video too. I came across Brother Nathaniel a few years back but I never bothered with him much seeing him as mad and also too right wing, but with the antics of HRC and the crazed liberals who follow her I'm beginning to find him pertinent.He's a Jew who converted to Russian Orthodox Christianity. I tried to do some research on him and the rumours are: he's manic...