Mike Norman Economics

On June 8, 2021, the UK Guardian published an Op Ed I wrote about inflation – This article is more than 2 years old:Price rises should be short-lived – so let’s not resurrect inflation as a bogeyman. In that article, and in several other forums since – written, TV, radio, presentations at events – I articulated the narrative that the current inflationary pressures were transitory and would abate without the need for interest rate increases or cut backs in net government spending. In the...

Modern Monetary Theory provides a useful lens through which to view the mounting sovereign-debt crisis in the developing world. It sheds light on why low- and middle-income countries borrow in foreign currencies, while also suggesting that rich countries could provide significant relief if they so desired....MMT to the rescue from the debt trap. Is the debt trap due to a misunderstanding of economics and finance, or is it policy? Project SyndicateThe Conceptual Roots of the Global South’s...

Quotes and links to sources.Funding the FutureCentral bankers on their ability of banks to create money out of thin airRichard MurphySee also by Richard MurphyShouldn’t bankers know how banking works?

Bad beliefs are like a disease in the body. If the disease is not eradicated, it will kill the body. That applies to bad economic understanding. 

Video and transcript.Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismPredictions 2024Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

Episode 9 in our new Manga series – The Smith Family and their Adventures with Money – is now available. We are approaching the climax for Season 1.Have a bit of fun with it and circulate it to those who you think will benefit …William Mitchell — Modern Monetary TheoryThe Smith Family manga continues – Episode 9 is now availableBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

As I previously indicated I am returning to Europe and the UK in a few weeks for the first time since the Covid pandemic began. I will provide further details in due course, but for now, here is a link to the first event I will be speaking at in London on Friday, January 26, 2024 that is organised by the wonderful women from GIMMS. See over for details and how you can get tickets to the event.William Mitchell — Modern Monetary TheoryGIMMS London Event – Friday, January 26, 2024Bill Mitchell...

2024 is here. Here’s what’s going to happen this year.

Pavlina Tcherneva, a Professor of Economics at Bard College and a Research Scholar at the Levy Institute, has written a concisely, argued case for a federal job guarantee within the context of a Green New Deal. Citing its origins in FDR’s 1944 Economic Bill of Rights and the U.N.’s Universal Declaration of Rights, and the, at least nominal, commitment to the idea of full employment that prevailed through every administration until it was quashed with the election of Ronald Reagan, Tcherneva...

I did that in 1976, when it was crazy!