Mike Norman Economics

It was the evolution of how I came about that. 

In Welfare for Markets, Anton Jäger and Daniel Zamora show that cash transfers emerged as an alternative to the welfare state favored by a left that had abandoned hope in socialism and a right hostile to democratic management of the economy.What exactly do David Graeber, Milton Friedman, Charles Murray, Yannis Varoufakis, and Mark Zuckerberg have in common?” It sounds like the setup to a bad joke. The punch line may not be funny exactly, but it is revealing. Although they share practically...

I said this months ago.

Excerpt from Foreign Policy.Countries have spent decades building critical infrastructure that is now buckling under extreme heat, wildfires, and floods, laying bare just how unprepared the world’s energy and transportation systems are to withstand the volatility of climate change.These vulnerabilities have been on full display in recent weeks as record-breaking temperatures broil the world, straining power grids, threatening water supplies, and warping roads.Mother Nature is a bitch. Who...

Important lesson from a Navy seal. 

A further step in developing dual circulation, that is, a balance of exports and domestic consumption.ECNS (Chinese official English news service)China announces further steps to unleash rural consumptionGlobal Times (Chinese state-sponsored media)

Mostly a consideration of Adam Smith's position on slavery.Global InequalityWhy slave-owners never willingly emancipated their slaves?Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Stone Center on Socio-economic Inequality, senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace

Only Western reporters can answer how an increase in revenue is a ‘decline’ or a ‘weakening’, especially when export volumes are steady.Seriously, do the maths. New WaylandMMT Verify: is there pressure on the Russian Economy?NeilW

Some people apparently need to know only one thing. I have to learn every day.

The US Bureau of Labor Statistics released the latest US inflation data last week (August 10, 2023) – Consumer Price Index Summary – which showed that overall monthly inflation to be 0.2 per cent and mostly driven by housing. And, once we understand how the housing component is calculated then there is every reason to believe that this major driver of the current inflation rate will weaken considerably in the coming months. The rent component in the CPI has been a strong influence on the...