Mike Norman Economics

Dragon breath. CounterpunchWorld War III With China: How It Might Actually Be Fought Alfred W. McCoy | J.R.W. Smail Professor of History at the University of Wisconsin–MadisonalsoThe DiplomatUS Navy, Marine Corps Unveil New Strategy to Turn Tables on A2/AD Steven Stashwick

Eric Schliesser is a philosophy professor that writes not only on "philosophy" but also political theory, which brings economics into the picture, too. (He has written a couple of books on Adam Smith.) His observations and advice on blogging as well as starting a blog is applicable most "serious" blogs, especially by academics and professionals.Digressions&ImpressionsOn Starting a (Philosophy) Blog Eric Schliesser | Professor of Political Science, University of Amsterdam’s (UvA)...

Explanation of how China works. Pretty well, actually.The Unz ReviewSelling Democracy to China Godfree Roberts See alsoAnother good analysis.The Diplomat ‘Chinese Capillary Democracy:’ Can Western Democracies Learn From China? Patrik K. Meyer, Foreign Expert at the Department of Arabic language & Literature at Peking University in Beijing, ChinaSee also In 2007 the Cuban government created forums for everyone in the country to contribute to a ‘Great Debate’ about Cuba’s socio-economic...

This could spell bad news for Nestle and other corporations seeking to corner the world market on clean water – but it would mean welcome relief for the hundreds of millions of people who have limited access to such a fundamental part of life. It is well-known that over 70 percent of the earth’s surface is covered by water – yet clean water for drinking and irrigation is one of the planet’s scarcest commodities. In fact, fresh water comprises only about 3.5 percent of the world’s supply....

The Vice President of the European Central Bank, Vítor Constâncio, gave the opening speech – Developing models for policy analysis in central banks – at the Annual Research Conference, Frankfurt am Main, on September 25, 2017. Last time I heard Constâncio speak in person, in Florence 2015, he was in typical Europhile central bank denial. He thought the Eurozone was fine, a great success given the low inflation, inferring that the ECB’s conduct had something to do with that. He didn’t talk...

Unlike Russia, the US is not observing its own pledge to dispose of its chemical weapons arsenal, the President Vladimir Putin said ahead of the destruction of the last batch of Russian chemical weapons on Wednesday. “Russia strictly complies with its international obligations, including those related to non-proliferation and reductions of weapons of mass destruction,” Putin said.  “Historically Russia was one of the largest holders of chemical weapons and the US remains one....

Here come the Chinese. Hundreds of thousands of overseas shops in countries all over the world now support Alipay payment in hope of attracting Chinese tourists during the upcoming eight-day national holiday. Sixteen international airports have real-time QR code-scanning tax refund services for Chinese Alipay users, two in the Republic of Korea, and 14 in Europe, according to Ant Financial, the parent company of Alipay. "The holiday is not just a festival for Chinese, but for us as...

The shoe drops. The Hill Kasich: I can't support the GOP if it doesn't reformMallory Shelbourne

It appears to be a mistake to refer to the price level when discussing the theoretical properties of an economy; at best, there are a few price levels in play at a given time. If we are referring to the measured level of a price index, such as the Consumer Price Index (CPI) there is no difficulty, however this aggregate price index should not be expected to correspond to any useful theoretical construct. This article explains my logic, and then looks at the practical implications of what...