Mike Norman Economics

[embedded content] Colonel Douglas Macgregor - Part Of The Problem with Dave Smith

[embedded content]Reminiscence of the FutureGeopolitics of War CrimesAndrei Martyanov, former USSR naval officer and expert on Russian military and naval issues

Rohan Grey and Raúl Carrillo are MMT lawyers.WiredThe Future of Digital Cash Is Not on the BlockchainGilad Edelman, senior writer for WIRED, covering the intersection of tech, politics, and law and formerly  executive editor of the Washington Monthlyhttps://www.wired.com/story/digital-cash-ecash-act/

Between interest rates inflation war sanctions the bearish cohort cannot understand why this market keeps going up.

There’s an interesting review of Jagdish Bhagwati’s book Protectionism published in the year 1988 by Wynne Godley in the journal Economica, year 1993. Without going into the review, I wanted to highlight how Wynne Godley’s views were quite similar to Nicholas Kaldor’s and Godley proposals such as planned trade and international cooperation of a new kind:The Case for Concerted ActionSome Wynne Godley Quotes On Planned TradeV. Ramanan

Mariupol sits on the strategic Sea of Azov at the tip of the Black Sea, and is the 'Mecca' of Europe's steel industry. Its conquest by Russia can pave the way for a Eurasian railroad and connectivity surge....The CradleHow Mariupol will become a key hub of Eurasia integrationPepe Escobar

A Son of the New American RevolutionIs Russia on the Ropes in Ukraine? (No. Winning bigly.)Larry C. Johnson | CEO and co-founder of BERG Associates, LLC, an international business-consulting firm with expertise combating terrorism and investigating money laundering, formerly Deputy Director in the U.S. State Department’s Office of Counter Terrorism (1989-1993, and CIA operations (1984-1989)https://sonar21.com/is-russia-on-the-ropes-in-ukraine/The Vineyard of the SakerSitrep: Russia-Ukraine...

Why might Putin have made this announcement? At least three key possible reasons come to mind, all related to well-known theoretical and empirical work in international monetary economics:Market segmentation, arising from obstacles to the formation of a unique global market with a single price for a product (in this case, gas), allows monopolistically competitive firms (such as Gazprom in this case) to operate pricing-to-market strategies by choice of the currency of pricing in international...

Yves here. Hope you’ll enjoy hearing Michael Hudson discuss how the war in Ukraine is really a great power confrontation, as Biden made clear, and why some of the moving forces in the US might not be unhappy with disruption.This was linked to here at MNE several days ago at a different location, but it is still relevant if you missed it. Naked CapitalismNATO-Russia Proxy War: Revealing Signs of a Fading America: Michael Hudson

Today, I am reflecting on the evolution of the body of work known as Modern Monetary Theory (MMT) and responding to many E-mails I get seeking clarification about things and some that keep getting things wrong. Some of the things I write today might introduce some dissonance, which just means that those feeling that have not really got to the bottom of the matter before and thought they knew what isn’t. This blog post also forms part of my – MMT Provenance – series where I trace the...