Mike Norman Economics

Feeling like a deer in the headlights yet? In what we believe is a significant escalation and potentially a hint as to the president's thinking, President Trump said during a phone call with Japanese Prime Minister Shinzo Abe that the US remains committed to defending its territories and allies using all "diplomatic, conventional and - here's the big one - nuclear - capabilities at our disposal."  This is the first time Trump has explicitly referenced possible involvement of nuclear...

There's hope in the younger generations. The state of Vermont has now seen it all, as thirteen-year-old Ethan Sonneborn has thrown his beanie into the ring to run for governor of the state in the 2018 elections.The ambitious teen — too young to vote legally — told The Burlington Free Press that he can seriously run for governor in Vermont because there are no age restrictions in the state for that position.… If elected, the middle-schooler promised to get implement a "practical and...

Jason Smith makes a key observation here that many miss. Science is inherently a skeptical enterprise where conclusions are tentative on both forthcoming empirical findings and new explanations that challenge existing ones, which they may replace if they provide a better explanation in the view of the scientific community. "Firmly held beliefs" has another label — dogma. The dogmatic approach is opposite of the scientific one. Of course, this doesn't mean that fringe views are to be...

A surprisingly simple solution to the conflict between self-interest and mutual benefits at all hierarchical levels.… The conflict between lower-level selfishness and higher-level welfare pervades the biological world.… But goodness has its own advantages, especially when those who behave for the good of their groups are able to band together and avoid the depredations of the selfish. Punishment is also a powerful weapon against selfishness, although it is often costly to wield. Every...

Only an apocalyptic war can hinder the march of a multilateral world "The shit's on," as they say in the military. And I don't rule out apocalyptic war. The world is now in a position eerily similar to the lead up to WWI and WWII. The big difference now is the proliferation of weapons of mass destruction that may act as a deterrent. We need some sense to prevail, and good sense seems to be in short supply. Russia InsiderPutin Hits Back: Vows to Destroy Western Financial and Trade...

Preliminary report, but in some depth compared with others. Definitely an upping of the ante in the game of strategy.Moon of AlabamaThe Peanut - North Korea Tests A New Nuke - Continues To Press For Negotiations bSee alsoSouthFrontTrump: The US considers “stopping all trade with any country doing business with North Korea”lkb22

The BRICS group of emerging economies must promote trade liberalization and an open world economy, Chinese President Xi Jinping said at a business meeting on Sunday at the start of a three-day summit being held in southeastern China.The heads of state from Brazil, Russia, India, China and South Africa will gather in the city of Xiamen through Tuesday, giving China as host its latest chance to position itself as a bulwark of globalization in the face of U.S. President Donald Trump’s “America...

Bibliography.Medium — Matt StollerHow to Educate Yourself on Monopoly Power Matt Stoller ht Lambert Strether at Naked Capitalism

In the final analysis, [US Ambassador] Hale’s softer line was probably influenced by the resolution passed by the Pakistan National Assembly and Senate last week, which amongst other things demanded the suspension of supply routes for US forces via Pakistan in Afghanistan. The Pentagon heavily depends on Pakistani transit routes, which are logistically and financially the most optimal. Any American ‘surge’ in Afghanistan likely means even greater dependence on Pakistan’s cooperation to...

These early humans were using tar to make tools long before Homo sapiens did. Beginning of technology. Ars TechnicaNeanderthals were distilling tar 200 thousand years ago in EuropeAnnalee Newitz