Mike Norman Economics

"Competition."The attempts to keep China and increasingly also Russia away from international space projects have only led to them starting competing projects. These are likely to gain more countries to cooperate with them.The exclusionary policy of the U.S. has not been successful. In the end it resulted in a loss of influence over future projects for which China and Russia are inviting everyone but the U.S....Moon of AlabamaU.S. Excluded China From International Space Projects - It Build...

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 470 as U.S. drillers boast more than 100 additional rigs this year. In the week prior, the U.S. oil and gas rig count increased by 5. The total number of active oil and gas drilling rigs in the U.S. is now 204 more than this time last year. The oil rig count rose by 8 this week to 373....OilpriceU.S. Rig Count Jumps As Oil Prices Hold Above $70Juilianne...

Nick Johnson looks at The Affluent Society,  which was prescient in foreseeing the rise of consumerism by manufacturing demand using marketing and advertising as the newest form of "bread and circuses" serving to channel public attention. This eventually lead to absorption in celebrity, where a significant portion of celebrity wealth was generated through advertising.The Political Economy of DevelopmentJ.K. Galbraith and the cult of economic growthNick Johnson

 This is important for many reasons, chiefly because Alexander Dugin is one of the premier public intellectuals globally and therefore an influencer. One may not agree with Alexander Dugin's values, but his contributions as a sociologist and political theorist are considerable. In a sense, he plays a similar role as Carl Schmitt did in his day as a political theorist. Dugin has been called "Putin's brain," which is total nonsense. However, I would expect that senior Russian officials would...

Many physicists today are arguing that as everything is predetermined by cause and effect we therefore have no free will. But this lady's hypothesis of how one day a supercomputer might be able to predict the future is interesting. The hypothetical supercomputer will be able to predict her future, but as she has access to this knowledge this will most likely alter her behaviour. Now, whatever she chooses, the supercomputer will be able to predict it. But this knowledge alters her behaviour...

Recall that in 1936 FDR jumped the gun in prematurely cutting back stimulus aimed at recovery, which truned out to have been premature. But the outcry against "loose money" was loud, and FDR unwisely buckled to it.the new economics foundationNot the right time to get pumped up about inflationDominic Caddick

The following email was sent to me by someone who wishes to go by the pen name “Patriotic American Socialist,” who happens to also be a US military officer. We have been corresponding for some time, and he is working on a research project with the aim of writing a sequel to Towards a New Socialism, titled “Towards a New Socialist Movement.”He has given me permission to publish his email anonymously here, and has expressed to me that he would love feedback, thoughts, or questions on what he’s...

Economic data are starting to recover from the distortions created by the pandemic, and so lazier analysts like myself can get a better handle on the current state of the economy. Although I have an interest in inflation, I want to also see what is happening in the real economy.… Bond Economics Sustainability And Canadian HousingBrian Romanchuk

 The climate crisis is forcing thousands around the world to flee as their homes become increasingly uninhabitable. Abrahm Lustgarten is a Pulitzer Prize-winning environmental reporter and has spent years looking at how climate migration will reshape the world. He speaks with Hari Sreenivasan about his latest project.[embedded content]

I have argued in many posts that ‘profits call the tune’ in capitalist accumulation. What I mean by that is that any change in business profits (and profitability) will lead to changes in business investment – and not vice versa over time. Profits are key to capitalist investment, not ‘effective demand’ as Keynesians argue, or changes in interest rates or money supply as Monetarists and the Austrian school argue. I differ strongly from the post-Keynesian view that profits are a ‘residual’...