Mike Norman Economics

John Harvey rates the Trump tax plan piece by piece.Forbes — Pragmatic EconomicsTrump’s Tax Plan: The Good, The Bad, And The UglyJohn T. Harvey | Professor of Economics, Texas Christian University

Gurdgiev's analysis of the Russian banking sector is of particular interest. It is sound and under the control of the central bank, which is imposing reforms that give the appearance of weakness in the sector. The opposite is true. Consolidation is taking place firmly under the state rather than oligarchs.true economicsPimco on Russian Economy: My TakeConstantin Gurdgiev | chairman of the Ireland-Russia Business Association, contributor and former editor of Business & Finance Magazine,...

President Trump’s 2018 budget contains the largest dollar cuts to programs for low- and moderate-income people proposed by any President’s budget in the modern era, reflecting a strikingly imbalanced approach to reducing the deficit or offsetting the cost of its proposed tax cuts. The plan would cut these programs by an estimated $2.5 trillion over the next decade. About two-thirds (66 percent) of the budget’s cuts would come from these programs, which help low- and moderate-income...

Includes Stiglitz quote, "there is no invisible hand."Lars P. Syll’s BlogRational expectations — the triumph of ideology over science Lars P. Syll | Professor, Malmo University

Lawyer and Monder Money Network director Raúl Carrillo's presentation at the MMT conference. Must-read for all interested in MMT. (1) First, I’d like to impress upon folks a theme that I’ll be stressing throughout the conference: when it comes to the economy, law is not merely a governing force (as many on the right would have economists believe) nor a reflective force (as many on the left are inclined to think). It is also a constitutive force. What I mean by that is that the law doesn’t...

Read these two posts together. Art brings up an interesting issue. Why can capitalism not survive in a no-growth world? Because that's how we set it up. If we set it up differently, it would work differently. If we designed economic policy for a no-growth world, we could live in a no-growth world. You see it in economic models all the time. We're almost there now, actually. We live in an almost-no-growth world, right? And yes, things are not very good. And even I have been calling for (or...

Since economics won't sell the TPP, the alternative is to make it a geo-political pact, with the main target being China. The NYT goes this route with an article that tweaks Donald Trump for his opposition to the TPP. "Faced with such an enemy, one might imagine the United States would gather allies in a concerted effort to contain China’s mercantilist ambitions. Except that Mr. Trump, in one of his earliest actions, revoked American participation in the Trans-Pacific Partnership, a pact...

MMT Foolishness: Modern Monetary Theory (MMT) suggests that debt does not matter and governments can print at will creating a virtual utopia of constant growth. MMT, Keynesian, and Monetarism all suffer from the same fatal flaw: They promise something for nothing, in various ways. For discussion, please see Debunking MMT, Keynesianism, Monetarism: Reader asks “What theories do you believe?” Mish Reading List. Those who believe in the absurdity that a benevolent government would spend the...

Link to web application written in R using Godley ratios.The Case for Concerted ActionUnsustainable Processes Of The EUV. Ramanan

Cue the MMT elites to confuse hypocrisy with understanding in 5 - 4 - 3 - 2 - 1.....Amazing. GOP Rep flat-out admits they were only using deficits as a “talking point” against Obama.https://t.co/EDLkowr4Wq pic.twitter.com/T07sV4PMhr— Seth Hanlon (@SethHanlon) September 28, 2017