Mike Norman Economics

This is the second part in a new series which explores some aspects of Modern Monetary Theory. As I’ve said already, the series does not aim to be comprehensive. Rather, I cover the aspects which I find most interesting. Here I focus on fiscal policy....The Political Economy of DevelopmentQuestioning Modern Monetary Theory: Part 2Nick Johnson

In the aftermath of the 1991 recession, which was the worst economic downturn in Australia since the Great Depression of the 1930s, I wrote a series of articles that we published in academic journals. In part, they were theoretical pieces that conjectured about the impact of rapid population growth on the labour market, which at the time was characterised by persistently high unemployment and rising underemployment (the recession had replaced full-time with part-time work). My conjecture was...

Maybe some sort of election reform is what GOP will be negotiating for under the “debt ceiling “ brinksmanship...  can’t think of anything else ...Democrats have made abundantly clear that the real driving force behind S. 1 is a desire to rig the rules of American elections permanently in Democrats’ favor. That’s why the Senate will give this disastrous proposal no quarter.— Leader McConnell (@LeaderMcConnell) June 21, 2021

Complete waste of time unless Pocahontas is there....*YELLEN, POWELL, GENSLER TO ATTEND MEETING WITH BIDEN TODAY— *Walter Bloomberg (@DeItaone) June 21, 2021

 So much for the brown cardboard recyclable packaging Amazon use to promote its green image.Online giant Amazon is destroying millions of items of unsold stock every year, products that are often new and unused, ITV News can reveal.Footage gathered by ITV News shows waste on an astonishing level.And this is from just one of 24 fulfilment centres they currently operate in the...

 The neoliberals view democracy as socialism. To them, the only democracy necessary is when people choose what to buy in the maket place. There is no other accountability. Neoliberalism is often described as market fundamentalism, or the belief that everything on the planet has a price tag, borders are obsolete, the world economy should replace nation-states, & human life is reducible to a cycle of earn, spend, borrow, die.TribuneHayek’s Bastards: The Populist Right’s Neoliberal Roots,...

More data coming in and it's starting to look like fiscal flows are slowing down. 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/

The United States’ trade deficit with China narrowed significantly following the imposition of additional tariffs on imports from China in multiple waves beginning in 2018—or at least it did based on U.S. trade data. Chinese data tell a much different story, with the bilateral deficit rising nearly to historical highs at the end of 2020. What’s going on here? We find that (as also discussed in a related note) much of the decline in the deficit recorded in U.S. data was driven by successful...

 MMT and Post Keynesianism?OrSoros connection? Soros is a longtime supporter of Bard.TASSUS-based Bard College deemed undesirable NGO in RussiaSee alsoForbesGeorge Soros Is Giving $500 Million To Bard CollegeSusan Adams, Forbes StaffAlsoAt Davos, George Soros, in his speech at the World Economic Forum (WEF), Soros committed $1 billion towards fighting nationalism and nationalists. George Soros claimed that the “biggest and most frightening setback” was in India and accused Narendra Modi of...

The truth about socialism with Chinese characteristics lies between the extremes of 11) China has abandoned Marxism and caved to capitalism and 2) China is now a capitalist country, albeit state capitalism (which is one characteristic of fascism as a political theory).Friends of Socialist ChinaBook review: Roland Boer – Socialism with Chinese Characteristics: A Guide for ForeignersTamara Prosic | Senior Researcher with the School of Philosophical, Historical and International Studies, Monash...