Mike Norman Economics

Institutional arrangements are complex systems, shaped by history, geography, and culture. The objective should not be to identify a one-size-fits-all approach, but rather to devise the combination of characteristics that would deliver the greatest good for the greatest number of people, with the right checks and balances.Should-read. Adopts the world system POV without calling it that. This approach emphasizes unity in diversity. This requires a multilateral approach rather than a unipolar...

Abba Lerner and John Maynard Keynes against Robert Barro. Who wins?Some keeper quotes.Lars P. Syll’s BlogFunctional finance and Ricardian equivalenceLars P. Syll | Professor, Malmo University

Paul Jay interviews Michael Hudson.Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismSurprise: Corporate Junk Before Students?Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

Don’t say its over until its over. There has been progress in the macroeconomics narrative since the GFC, which accelerated during the pandemic. Governments have certainly expanded fiscal deficits and taken on more debt and the usual hysteria, which many of those same governments helped to ferment in the public debate, has fallen away. Obviously, for political reasons, a government that has previously been terrorising the population about the dangers of deficits and rising debt as a cover...

Be careful what you wish for? 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 backstory.Moon of AlabamaLukashenko's Revenge (Served Cold)

On Wednesday last week (May 19, 2021), the ABS released the latest – Wage Price Index, Australia – for the March-quarter 2021. The WPI data shows that nominal wages growth remains suppressed and workers were able to glean only the most marginal real improvement in purchasing power. Public sector workers endured real wage cuts. The public sector is clearly not demonstrating leadership with their ridiculous wage freezes and wage caps stifling wages growth not only in the public sector but also...

 Of interest regarding the historical dialectic between liberalism and traditionalism.Dances with BearsTHE RUSSIAN CONCORDAT BETWEEN PATRIARCH AND KREMLIN ISN’T AT ALL LIKE THE ONE NAPOLEON GOT POPE PIUS VII TO SIGNJohn Helmer

I just realized I’ve never really written about how I make a living doing what I do, which is odd because it’s easily the most interesting aspect of my weird little operation here. I’ll put the information out there just in case it’s useful to anybody.Like anyone else who criticizes capitalism within earshot of hardcore capitalism enthusiasts, I get the “and yet you participate in capitalism ha ha” line all the time. They claim that because I have links to Patreon and Paypal at the bottom of...

Russia’s media oversight body Roskomnadzor warned Google on Monday that it could slow down access to the global platform in the country if it did not comply with the agency's demands....Sputnik InternationalRussian Media Watchdog Threatens to Throttle Google Traffic Over Noncompliance