Mike Norman Economics

Rate hikes will drive inflation higher.

Ok, there is is. They totally get that the US and UK aided by the rest of Five Eyes (Canada, Australia, and NZ) are actively trying to take them down.The Vineyard of the SakerRussia and China are “more than allies”The Sakerhttp://thesaker.is/russia-and-china-are-more-than-allies/TASSRussia and China act like a bloc as relations with United States worsen - New York Timeshttps://tass.com/world/1376281

 One factor in the economics community hanging together on the normal paradigm is the assumption that economics is a natural science like physics rather than a life science or a social science?Another factor may be group think?There may be many other factors, too, but these come to mind.Statistical Modeling, Causal Inference, and Social ScienceEconomics as a communityAndrew Gelman | Professor of Statistics and Political Science and Director of the Applied Statistics Center, Columbia...

It’s Wednesday and I load up other things to do on this day and thus write less here. I also am in the process of moving offices at the University – and after some 18 years in different locations, I am now returning to the Social Sciences Building where I first had an office when I came to the University from Adelaide. Which feels sort of okay, given by opposition to economics being treated as a business discipline. But thanks to a deal I made with the University in 2007, my research centre...

 I would assess that it is now beyond the tipping point. Russia and China are all but declared allies• at this juncture. In addition to a formal alliance and as a concomitant, the nightmare scenario for the US and allies is that Russia and China pool military technology and manufacturing capabilities. In addition, Russia has the natural resources, especially energy, that China needs and is otherwise potentially deprived of by the US Navy disrupting its maritime trade. India...

Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political circles. MMT has been argued to be both fascist and communist, orthodox and heterodox, dangerous and benign, unworkable and obvious, and unrealistic and clearly nothing new. The contradictory aspects...

On December 9 and 10, US President Joe Biden held a virtual Summit for Democracy with representatives from 108 selected countries. The summit was intended to forge a common agenda to strengthen democratic institutions, but unfortunately it became paradoxical.Democracy in the US is mainly a political tool to satisfy its own political goals and interests, but not the interests of the majority of people, which should be the core meaning of democracy. The US has always claimed to be the role...

WebsiteCollected Works of Warren Moslerhttp://www.collectedworksofwarrenmosler.com/http://www.collectedworksofwarrenmosler.com/

Fed tomorrow. Get ready for irrational volatility.

This manuscript explores the relationship between positive psychology and political philosophy, revealing an inter-disciplinary approach that speaks to the concerns of the common good. Since positive psychology has been expanding its reach into social and political spheres, its relationship to philosophical arguments has been worthy of exploration. Positive psychology is associated with utilitarianism, and aspects of hedonic psychology. However, an alternative concept of eudaimonic...