Mike Norman Economics

In this and upcoming parts of the series, we will look in a little more detail at the ‘income-expenditure model’. The foundations of the model have been introduced in the previous two parts (here and here)…. heteconomistShort & Simple 18 – Income Determination in a Closed EconomyPeter Cooper

Realizing the gravity of the situation of becoming a persona non grata to the US government (and CIA), Assange then siad that “it is an interesting thought experiment to consider where other media outlets lay on this spectrum. It is clear that if the 'Pompeo doctrine' applies to WikiLeaks then it applies equally if not more so to other serious outlets." Outlawing dissent while privileging official propaganda transmitted via compliant media. The road to tyranny leads through the US deep...

Today a new generation, experiencing major capitalist crises, increasingly concerned about its prospects and rising inequality, is powering radical movements in the homelands of capitalism behind figures and forces such as Sanders, Corbyn, Mélanchon, Die Linke, Podemos and Cinque Stelle. Will it bring Capital back into the history of these countries? Not before the burden of western misinterpretation that has accumulated over it for a century and a half, nearly crushing it, is removed. That...

Speech by Ms Elvira Nabiullina, Governor of the Bank of Russia, at the International Financial Congress, Moscow, 13 July 2017. BISElvira Nabiullina: Bank of Russia's strategic objectives and plans for the next five years

Short summary of the  of Das Kapital's continuing relevance. Clear and succinct. Real-World Economics Review Blog 150 years of ‘Das Kapital’: How relevant is Marx today? Jayati Ghosh | Professor of Economics at the Centre for Economic Studies and Planning, School of Social Sciences, at the Jawaharlal Nehru University, in New Delhi

Political tensions have been rising between Phnom Penh and Washington, after Cambodia ordered a USAID-supported organization to halt its activity in the country. The Asian nation says it is defending its sovereignty, while Washington questioned its democracy.In the latest development to the worsening dispute between the two nations, Cambodia's long-ruling leader, Prime Minister Hun Sen, accused Washington of interference in his country's domestic affairs. "We wish to send a clear message...

Pakistani Foreign Minister says his country will work together with Russia and China in the light of the new US strategy for Afghanistan. Sputnik InternationalPakistan to Seek Consensus With Russia, China Over Trump's New South Asia PolicyChina Affirms Alliance with Pakistan After Trump Says Islamabad Abets Terrorists

Backgrounder. MENA is much more complicated than it portrayed in the West. The reasons that the West is there at all are oil and gas, and Israel.LobelogLibya’s Role in the Polarized Sunni World Giorgio Cafiero, CEO and founder of Gulf State Analyticsa Washington, DC-based geopolitical risk consultancy, and Elaine Miao, contributor to Gulf State Analytics

Russia’s Federal Agency for Technical Regulation and Metrology (Rosstandart) appointed a new technical committee to work on the standardization of “the software and hardware of distributed register and Blockchain technologies", East-West Digital reported. “The standardization of Blockchain will allow these technologies to develop at a new level,” expects the agency, acknowledging that Blockchain technology is “actively spreading” across Russia. Blockchain technology will develop through...

Iraqi Prime Minister Haidar Al-Abadi has said that if the United States intends to carry out an aggression against the Iranian government, Iraq will not allow the U.S. to use its territory for its aggression. “Iraq is not a starting point for attacking other countries. If there are clashes between Iran and the United States, then we will not allow the U.S. to take advantage of us,” he said.“Iraq has its own interests and is an independent country and we call on all countries to respect the...