Mike Norman Economics

Economics is often described as the dismal science, but it’s more apt to call it the mystical science. For generations, the field has been ruled by aphorisms that sound profound but crumble under scrutiny. These sayings, like “tighten your belt in tough times” or “the market knows best,” are not neutral observations. They are myths crafted to justify particular views of how society should be run—views that often prioritise the interests of the few over the many.Take monetarists, for example,...

Today (December 13, 2024), MMTed releases Episode 9 in the Second Season of our Manga series – The Smith Family and their Adventures with Money. Have a bit of fun with it while learning Modern Monetary Theory (MMT) and circulate it to those who you think will benefit.William Mitchell — Modern Monetary TheoryEpisode 9 (S2) of the Smith Family Manga is now available – the Prime Minister embarrasses himselfBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and...

And I don’t necessarily mean in a good way.

Dour looking group taking a victory lap:🇦🇷 MILEI: ARGENTINA ENDS DEFICIT FOR THE FIRST TIME IN 123 YEARS"The deficit was the root of all our evils—without it, there’s no debt, no emission, no inflation.Today, we have a sustained fiscal surplus, free of default, for the first time in 123 years.This historic… https://t.co/uszEgPd493 pic.twitter.com/nt5jJGQM1V— Mario Nawfal (@MarioNawfal) December 11, 2024 Their equity market index responding favorably….But they have been drastically reducing...

Gianni Barilla taught me a lesson.

Bank regulations force unnecessary losses.

This could potentially be the biggest upheaval in 80 years.

This is an article on the history and politics of central banking. As such it is important for understanding the details of MMT institutional analysis regarding banking in historical context.There is also some fascinating information about Reichsbank President Hjalmar Schacht.It also provides insight into how central bankers still think and operate. It's a club.Notes on the Crisis"The First Cause of Stability of Our Currency is the Concentration Camp" [Adolf Hitler]:Central Banker Solidarity...

He basically sent a message to Bitcoin owners that higher prices are coming.

I don’t understand people who say they’re going to stop investing because they’ve reached a certain age.