Mike Norman Economics

One of the most successful ideas ever is multiculturalism. For thousands of years it has seen an endless sequence of victories. Indeed there were a lot of temporary setbacks, but the long term historic trend is unmistakable. Multiculturalism was initially thought of by kings who conquered an empire of different peoples and wanted to rule them all. These different peoples could keep their own customs and settle most of their own affairs as long as they didn't pose a threat to the social...

Review of Blade Runner 2049. The Wolf Report:Nonconfidential analysis for the anti-investorOf Love and Hegel S. Artesian

If they are keeping a close eye on this, then we should we should be keeping a close eye on them keeping a close eye on this...Via @Convertbond : on the case for keeping a close eye on US average hourly earnings https://t.co/Y9hTWsZkNV #wages #economy #markets #jobs pic.twitter.com/InWmTzJsKa— Mohamed A. El-Erian (@elerianm) October 7, 2017

John Pilger is not impressed with Bernie Sanders who he considers to be a war monger, and he doesn't hold out much hope that Jeremy Corbyn will be able change Labour's foreign policy or reduce UK's arm sales to odious regimes like Saudi Arabia. Richie Allen says he has not voted for 20 years because he feels that no matter what politicians say or believe, they will be vibrated into place by the system once they get into power. Jeremy Corbyn has already giving shadow government positions to...

A Trump administration staffed by plutocrats – most of whom gained their wealth from rent-seeking activities, rather than from productive entrepreneurship – could be expected to reward themselves. But the Republicans’ proposed tax reform is a bigger gift to corporations and the ultra-rich than most had anticipated. Best line: "Trump assumed office promising to “drain the swamp” in Washington, DC. Instead, the swamp has grown wider and deeper. With the Republicans’ proposed tax reform, it...

From accusations of Trump campaign collusion to Russian Facebook ad buys, the media has substituted hype for evidence. Aron Maté makes a case that we have been making here at MNE for a long time. Amazing how long this can be sustained without substantiation. It doesn't speak well for the critical thinking skills of Americans, if in fact most are being taken it by the sleight of hand. There is a huge difference between allegations and evidence, especially when those making the allegations...

 Martin Wolf writes that successful leftism “must recognise the crucial role of incentives in shaping human behaviour.” This is correct. I’m not sure, though, that it is a big argument against Corbynism. This is because actually-existing capitalism itself contains many dysfunctional incentives – ones that constrain innovation and encourage rent-seeking - and Corbynism offer the hope of reducing some of these. I would say that there is a tendency in capitalism (economic liberalism) toward...

Absolutely must-read! Economic planning and societal control: The digital transformation is changing the rules of the game in the global systemic competition. China's determined pursuit of a "digital Leninism" presents a major challenge to liberal market economies and democratic political systems. MERICS — Mercator Institute for China Studies Big Data reshapes China's approach to governance Sebastian Heilmann ht Ryan in the comments Sebastian Heilmann is the founding president of the...

Meanwhile, a new Ipsos Global poll about countries with positive influence on world affairs found China ranks 8th with a score of 49 percent, 9 percentage points higher than the United States. Daniel Rosen, founding partner of Rhodium Group, said on Tuesday at a forum in New York that according to his tracking of China's innovation progress, in 18 months from now, the share of China's industrial output from innovation will surpass that of the United States. "Now China's image is obviously...

Depends on the definition of "science." Psychology TodayIs Psychology Really a Science?David B. Feldman | Professor of Counseling Psychology at Santa Clara University.