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Mike Norman Economics

Biden Revises US Sanctions Policy — Ivan Timofeev

The new guidelines for the US sanctions policy include the development of targeted sanctions, a more serious analysis of their economic costs for American business, as well as business from allied and partner countries and, finally, closer coordination with allies, writes Valdai Club Programme Director Ivan Timofeev....Valdai ClubBiden Revises US Sanctions PolicyIvan Timofeev, Valdai Club Programme Director

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How Monopoly Was Invented to Demonstrate the Evils of Capitalism — Kate Raworth

The game’s little-known inventor, Elizabeth Magie, would no doubt have made herself go directly to jail if she’d lived to know just how influential today’s twisted version of her game has turned out to be. Why? Because it encourages its players to celebrate exactly the opposite values to those she intended to champion.Naked CapitalismHow Monopoly Was Invented to Demonstrate the Evils of CapitalismKate Raworth, senior visiting research associate at Oxford University’s Environmental Change...

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Bill Mitchell — Reading Beardsley Ruml carefully

Many social media commentators that have become interested in Modern Monetary Theory (MMT) regularly cite sections of the article written by businessman and former Chairman of the Federal Reserve Bank of New York Beardsley Ruml – Taxes for Revenue Are Obsolete – which appeared in the January 1946 edition of the American Affairs journal. The article was actually a speech that he made “before the American Bar Association during the last year of the war”. Some claim that the content provides...

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Billionaire Ethereum co-founder says he is quitting the world of cryptocurrency due to personal safety concerns

 The underworld! There's some seriously evil people is this world, and it's best to keep well clear of them. I read recently how the hacking business has changed, which I should have posted here. Hackers now design software not to use themselves, but to sell to less experienced hackers, who are prepared to take the risks, but it lowers the risk all around. Crypto has been linked to a series of security issues, with a boom in kidnappings of wealthy individuals followed by the criminals...

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Are vegetarians less prone to a severe COVID-19 illness? | COVID-19 Special

You don't have to be vegetarian to get the benefits. This doctor keeps animal products low in her diet  Could what we eat be the difference between life and death – between a light fever or a stay in intensive care? We know that obesity, high blood pressure or diabetes can lead to severe Covid-19 complications. Does this mean, our diet our destiny? Could eating fewer animals and more plants be the solution?A new study suggests it could come down to a survival of the vegetarians.[embedded...

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KSI says he made £7m in cryptocurrency investment but ‘lost it all’ because of Bitcoin crash

 YouTube star and rapper invested less than a year agoKSI says he is still enthusiastic about Bitcoin. KSI has revealed he lost a staggering amount of money due to the Bitcoin crash.He continued: “Well, I say Bitcoin. I put [in] £2m last year – November, December – but this was into cryptocurrencies. I made £7m and now I’ve lost it all. It’s mental.The IndependentKSI says he made £7m in cryptocurrency investment but ‘lost it all’ because of Bitcoin crash

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Democratic, Republican Confidence in Science Diverges — Jeffrey M. Jones

Americans as a whole remain confident in science, but compared with the mid-1970s, a large partisan gap has emerged, with Republicans becoming much less confident at the same time Democrats are becoming more so. It appears that science, like many other issues, has become a politicized topic.Republican mistrust may stem from conservative thought leaders' allegations of liberal bias in the scientific community, perhaps because colleges and universities employ many scientists. Republicans also...

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