Mike Norman Economics

Our World in DataGlobal economic inequality: what matters most for your living conditions is not who you are, but where you areMax Roserhttps://ourworldindata.org/global-economic-inequality-introduction

Wakeup call falling on dear ears. Is the US past the point of no return, where even exogenous shock and existential threats fail to overcome polarization?AlterNetThe U.S. is at a dangerous 'level of polarization,' political scientists warnNicole Karlis RelatedPoliticoDemocracy is in trouble, and Biden’s summit is not going to fix itAleksandar Hemon, Aida A. Hozic, Srdjan VuceticECNSJohn Ross: Democracy and policies in China far greater than the westChina Daily (Chinese state media)

In 1983, I started a PhD at the University of Manchester working within the Phillips curve framework. At the time, all the talk was Monetarist – eschewing the use of fiscal policy to reduce unemployment. Unemployment was high after the OPEC oil shocks and governments were abandoning their responsibilities to reduce it because they had drunk the Monetarist Kool-aide. The Monetarists invented a concept – the Non-Accelerating Inflation Rate of Unemployment (NAIRU) or the ‘natural rate of...

Plainly put, conditions remain conducive to higher stock prices so analysis is almost getting boring.

A bipartisan agreement to raise the debt ceiling by $2T. The final concern has been removed.

This week’s inconclusive virtual Biden-Putin summit keeps the clock ticking and the tension ratcheting up. All this risk to the national security of all Europe for what precisely? For the sake of NATO expansion. For a NATO that could not prevail in Afghanistan, despite all the expenditure in blood and treasure, and will not stand to defend Ukraine even if Russia was to invade. And if NATO did move to fight Russia over Ukraine, what would that entail? Nothing other than the potential for a...

Numbers.GallupSocialism, Capitalism Ratings in U.S. UnchangedJeffrey M. Joneshttps://news.gallup.com/poll/357755/socialism-capitalism-ratings-unchanged.aspx

Numbers.Michael Roberts Blog — blogging from a marxist economistWorld inequalityMichael Robertshttps://thenextrecession.wordpress.com/2021/12/08/world-inequality/

"The statement says that by retaining the right to respond in kind to the challenges from the United States and the US-led NATO members, Moscow calls for an in-depth dialogue on security guarantees and on ways to lower military and political tensions, including options to prevent collisions in the air and at sea.""Otherwise, we will deploy all the means at our disposal to prevent and remove the emerging threats," the diplomat said....Zero HedgeRussia Delivers Protest Note To US Embassy...

Interesting numbers with far-reaching implications, but the subtext that is not mentioned is that the opposition to the right is motivated by the perception that the right has become fascistic. Would you date a Nazi? is one question of course. The next is just as important, Would you associate with someone that dates Nazis? This is not headed in a good direction for the country. The poll also shows that many on the left are disinclined to engage in economic exchange with those on the right....