Mike Norman Economics

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

You just can't kill this thing; it keeps coming back. Almost zombie-like behavior here...Learn more about the surprising self-healing qualities that have just been discovered in gold: https://t.co/u6YkqxKfQk pic.twitter.com/apO3Di7fBN— World Gold Council (@GOLDCOUNCIL) September 29, 2017

As DefenseOne explains, the idea of a networked military borrows from the “network centric warfare” concept that first emerged more than a decade ago. However, the concept that military leaders proposed in their latest review is less a strategy for increasing efficiency than a plan to connect all military equipment on a single network. The result would be better coordinated, faster, and more lethal operations in air, land, sea, space, and cyberspace. Of course, the way to defeat the US...

Here is the original and full transcript of my recent interview with Sputnik (by email): If you are interested, you can find what Sputnik actually posted here: https://sputniknews.com/analysis/201709281057790173-us-syria-daesh-alnusra/ Due to the decision by the Sputnik editors to remove parts of my replies which I consider to be essential, I have taken the painful decision not to grant any further interviews to Sputnik. The Vineyard of the Saker Sputnik interviews the Saker The Saker