Mike Norman Economics

Another side benefit of the entrepreneurial state military R&D.Asia TimesCIA has 137 projects going in artificial intelligence Asia UnhedgedSee Also "Artificial intelligence is the future, not only of Russia, but of all of mankind," Putin said. "Whoever becomes the leader in this sphere will become the ruler of the world." After seeing Putin's comments, SpaceX and Tesla CEO Elon Musk tweeted that "competition for AI superiority at national level (is the) most likely cause of WW3."...

It didn't studies to know this hypothesis is wrong, but here it is. A problem with appealing to "rationality" is that it opens a backdoor to sneaking in ideological assumptions.Lars P. Syll’s BlogMilton Friedman’s permanent income hypothesis — so wrong, so wrongLars P. Syll | Professor, Malmo University

The basic income means that you are requiring somebody else to use up their finite lifespan to produce output, take it from them by force and give it to somebody who *refuses* to contribute to the production process. There is no value exchange, only theft. That is no different to the process the idle rich use today — and are rightly resented for it. So you have to justify, politically, why society should support people *for their entire life* who simply refuse to contribute when they...

Our intro courses fail to reflect the dramatic advances in economics – concerning information problems and strategic interactions, for example – since Samuelson’s paradigm-setting 1948 textbook. Missing, too, is any sustained engagement with new problems we now confront and on which economics has important insights for public policy – climate change, innovation, instability and growing inequality amongst them. This column introduces a free online interactive text – now used as the standard...

I didn't know Trump gave this speech. I only came across it today and it is awesome! Did he mean it or was he just lying like most politicians? I can't help believe he meant it but the ruling elite overwhelmed him because he had hardly any truly independent politician he could choose for his cabinet. This version of his speech is with music and video edits which makes it more dramatic. It's old now but what a speech, no wonder the mainstream media are so scared of him as he called their...

The logic behind the design of the Affordable Care Act does not hold up well when faced with the reality of how markets actually work outside cities. ACA exchanges were built on the fundamental idea that competition between regulated private insurance companies would improve quality and hold down prices, but competition is lacking in most rural counties. That’s very unlikely to ever change.... The InterceptThe ACA is Failing Because It Didn’t Account For Hospital Monopolies in Rural Areas...

It's baaack!Bit wacky in spots though.In addition, it erroneously attributes the idea to MMT economists when it was originated by Ellen Brown and proliferated by Beowulf. MMT'ers subsequently picked it up. HuffPostThe Debt Ceiling And #MintTheCoin: Another Teachable Moment For A Sustainable Money System Mike Sandler

Blame game. The Democrats have no chance of winning forthcoming elections on this path. Losers.Sputnik InternationalSanders’ ‘Character’ Attacks ‘Paved the Way’ for Trump, Clinton Says in New BookAlsoZero HedgeAngry Hillary Blames Everything From Bernie Sanders To "There's Something About Mary" For 2016 Loss Tyler Durden

Trump’s base, riled up by two years of campaign rhetoric and presidential statements against immigrants, is thirsty for more enforcement actions. But people close to Trump say he genuinely does not want to end the program. They said Trump is loath to punish someone who was brought to the U.S. as a young child with no say in the matter. That doesn’t mean, however, that Trump’s personal feelings will save the program. For DACA recipients and millions of their friends and family linked to...

Online publication Newsweek upped the ante in explosive rhetoric Sunday by suggesting the Tsarnaev brothers, responsible for the 2013 Boston Marathon terror attack, were operating on behalf of Moscow – even though Russian security agencies tipped off the FBI and CIA that Tamerlan Tsarnaev and his mother presented imminent security risks.... Propaganda machine gears up.Sputnik InternationalNewsweek Claims Russia Orchestrated Boston Marathon BombingSee alsoStrategic Culture FoundationTypical...