Mike Norman Economics

While John Stuart Mill is remembered as a philosopher (Utilitarianism and On Liberty), he is also numbered among the prominent classical economists along with Smith and Ricardo. His Principles of Political Economy was widely taught until it was replaced by Alfred Marshall's Principles of Economics.The article observes that while Mill was "progressive for his day," his day was not at all progressive. While he was a bit of a radical at the time, now his work seems quite conservative on...

Poverty, prosperity, and growth are often measured in monetary terms, most commonly as people’s income. But while monetary measures have some important advantages, they have the big disadvantage that they are abstract. In the worst case monetary measures – like GDP per capita – are so abstract that we forget what they are actually about: people’s access to goods and services. The point of this text is to show why economic growth is important and how the abstract monetary measures tell us...

Russia-China engagement in the military-technical field has ‘strategic importance’ for both parties, with bilateral cooperation on the upswing since 2010. This has gained momentum in the aftermath of the 2014 Ukrainian crisis, with Russia shedding its earlier reluctance to sell latest technology to China, signing deals for supply of Su-35 fighter jets and the S-400 missile defence system. The two sides are also engaged in joint projects, and Russia has agreed to help China develop its...

Although I had written a couple of theoretical articles some time ago, I have largely ignored cryptocurrencies. However, there has been enough newsflow about them that I decided I could do a drive-by comment. In case one wants an investment recommendation, all I can say is that the underlying problems they face are straightforward, I have no way of knowing the timing.The thing I find most interesting is that attention has switched to Dogecoin, which is a meme coin. The reason why this has...

Someone in Mauritius has been reading up on MMT?Bill Mitchell – billy blogCentral bank writes off government currency transferBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Cybersecurity.OilpriceAmerica’s Multi-Trillion Dollar Infrastructure Security CrisisIrina SlavSee alsoSputnik InternationalBiden Signs Executive Order Improving Cybersecurity After Recent Hackings

Young people moving to more hospitable places, in addition to declining birthrate.Andrew Batson's BlogChina census reveals the true scale of the Northeast’s declineAndrew

Proving once again that this guy is more lucky than smart. Podcast https://www.buzzsprout.com/1105286

Like it says, view of a high-placed insider in the US deep state aka MICIMATT (Military-Industrial-Congressional-Intelligence-Media-Academia-Think-Tank complex). It confirms what you have been reading here for some time.Strategic Culture FoundationInsider View: The Tragedy of the U.S. Deep StatePepe Escobar