Mike Norman Economics

This cuts for the core of liberalism.The liberalism that characterizes the West is a political theory based on ontological, epistemological, and ethical assumptions based mostly on 18th, 19th and 20th century Anglo-American thinkers, with roots in Classical Greek thought and subsequent Christian theology.It is assumed to be based on eternal values and truths.This is contested even in the West, where liberalism has different interpretations and different positions contend. It is also at odds...

Though the 75-year old senator played an essential role in demystifying socialism to the public and instilling a radical spirit in the progressive movement, the current resurgence of class politics on the left has been in the works for many years, going back to the 2007-08 financial crisis. It hasn’t been white-haired socialists who have provided the foundation for this resurgence, but young people who grew up in the era of neoliberalism. This was evident last week, when progressive...

The three r's plus c. Reading, writing, 'rithmetic, and coding.Wholeheartedly agree. Digital natives need to be digitally literate.I would a reasoning to the three r's.Coding relates closely to reasoning in addition to acquiring symbolic literacy in a computer language. It is also a bridge to mathematical reasoning.Bloomberg ViewKids Should Know How to Code The Editors

Backgrounder on what to expect.Zero HedgeTrump Warns Xi: Trade War With China Begins Monday Tyler Durden

Stocks and flows at the macro level.heteconomistShort & Simple 15 – The Sectoral Balances IdentityPeter Cooper

A recent op-ed on this blog by Paul Kupiec misstates the Clearing House’s criticism of the supplementary leverage ratio. Kupiec’s article indicates that the Clearing House’s position is contained in a recent article by Darrell Duffie, a professor at Stanford University. Although Professor Duffie’s article appeared in the Clearing House’s quarterly journal “Banking Perspectives”, his views were his own, and he received no compensation from the Clearing House. We will let Mr. Kupiec debate...