Mike Norman Economics

Abstract This paper reconstructs the Keynesian income – expenditure (IE) model to include distinctions between government purchases of private sector output, government production, and government job guarantee program (JGP) employment. Analytically, including those distinctions transforms the model from a single sector model into a multisector model. It also surfaces the logic behind the automatic stabilizer property of JGP employment. The model is then extended to include Kaleckian income...

The 97-year-old told CNBC in an interview alongside Berkshire CEO and billionaire investor Warren Buffett that the United States should take a leaf out of China's book and "step in preemptively to stop speculation". Read more at:https://economictimes.indiatimes.com/markets/stocks/news/berkshires-charlie-munger-says-china-right-to-clip-jack-mas-wings/articleshow/83976378.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppstI said the same when they did it. They...

It’s Wednesday and I have been tied up most of the day with commitments. So we will have to be content today with a couple of snippets. The first about the on-going inflation mania and the way in which the ECB seems oblivious to it. The second about the gross incompetence of the Australia government, who has put the health of the nation at risk and forced state governments to invoke rolling lockdowns as only a small number of us are vaccinated and cases keep seeping out of a flawed...

The Chinese get a lot of flak about over fishing and for fishing in other country's waters, which is true, but the Europeans eat far more fish per capita and over fish in other countries waters as well. It all needs to be cut back for the survival of the oceans. Cargo ships from around the world are moving untracked in African waters, where the rise of a new fishing activity affects everything from local biodiversity to piracyHow Europe’s dark fishing fleets threaten West Africa

Lots of misunderstanding on this. I go through the operational realities of Fed actions and government finance in this video. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/

 E-mail remains an essential backbone of internet communication, with over 4 billion users worldwide. But is it private? Actually it's inherently insecure. Furthermore, the vast majority of users rely on free online email services. Did you know that they use AI algorithms to scan your emails in order to learn more about you? Or that emails are stored in the clear, meaning in the event of a hack, all your emails would be leaked? Do you know what Metadata is and how much is collected by your...

Review of The Red Deal: Indigenous Action to Save our Earth. The Red Nation (2021), Common Notions.More traditionalism versus liberalism. As climate change accelerates, this view will be increasingly heard, especially as the Global South/East emerges. An old Native American proverb sums it up, "Don't shit in the teepee."If the title is too extreme for you, another similar title might be, "Capitalism needs to change to protect the planet." Socializing negative externality is threatening all...

Summary of World Bank forecast.ECNSWorld Bank: 8.5% GDP growth projected for China in 2021China Daily

Today is just a number-crunching exercise, which I conducted to allow me to understand where the employment losses and gains in the Australian labour market since the onset of the pandemic. The latest Australian Bureau of Statistics Labour Force data, which I analysed in this blog post – Australian labour market – stronger as working age population flattens out (June 17, 2021) – revealed that total employment in Australia is now above the February 2020 level by 130.2 thousand (1.0 per cent)....

If the rationale for buying bitcoin is the Fed's monetary operations, it's a flawed rationale. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/