Mike Norman Economics

Lasso, a career banker, promised to offset the economic damage done under Moreno by doing a better job in attracting foreign investment and creating jobs in a more open economy, as well as heavily investing in agriculture.Whether he can do this remains to be seen. In 1999, he had a short stint as ‘Super Minister’ of the Economy under the government of Jorge Jamil Mahuad. That time was marked by significant economic turmoil and forced Ecuador to adopt the US dollar as its national currency,...

The explosive growth in foreign capital at Hainan FTP features three aspects: foreign capital utilization, the sharp increase in foreign investors and sources of foreign capital.Foreign capital utilization in Hainan has doubled for three consecutive years, with the total amount exceeding more than half the figure since the Hainan Special Economic Zone was established 30 years ago. The number of newly-set foreign-invested enterprises in 2020 has grown to 1,005, threefold that of 2019. Sources...

Shelter is a necessity, and so it is certainly an important component of the cost of living. However, the issue that we are concerned with is inflation, as well as the narrower issue of how to shelter should appear in a consumer price index (like the CPI).Different countries have different norms with respect to how shelter is provided, and those norms have changed over time. My comments here reflect the norms in Canada and the United States, but they should translate to other developed...

Longish, but detailed and well-written. Good backgrounder.Naked CapitalismThe War Nerd: Taiwan — The Thucydides Trapper Who Cried WoofGary Brecher [John Dolan]. Republished from the Radio War Nerd subscriber newsletter. alsoAnother historical backgrounder.Covert Action Magazine — Exposing Covert Action Since 1978Cold War On Trial: Truth Commission Details Horrible Crimes Akin to Native American Genocide and SlaveryJeremy KuzmarovAlsoFor a self-proclaimed citizen journalism outfit, an...

Remember on February 3, 2021, when the RBA governor Philip Lowe spoke at the National Press Club in Australia and told the audience that the Reserve Bank of Australia is not funding the federal government deficit, either in part, or, in full. This was in response to being asked whether the current situation that sees the RBA buying large swathes of government bonds are in any way consistent with Modern Monetary Theory (MMT). Well, since he gave that speech and answered questions from...

Article in a Russian publication says Zelensky is backing away from military confrontation with Russia. 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

That is why the appearance of those two US destroyers in the Black Sea is, literally, for the appearance primarily and for trying to collect some intel for what seems today a diminishing probability of confrontation in Donbass....The Vineyard of the SakerWhy It Is Not AdvisedAndrei Martyanov, exclusively for the Saker Blog

A number of readers have raised important questions that I need to address, but before turning my attention to that I have decided to finish my exposition. I am sure it is clear that I have vastly more to say than I am putting into this little multipart essay – I mean, I have published two books and a number of lengthy articles on the subject. My purpose here has been simply to highlight my claim that it is possible to bring the literary criticism and the mathematical economics together in a...

ZH's angle but some interesting facts too. Looks like the pilot is on target and rollout may be soon.There is one final, geopolitical reason behind China's decision to give its digital currency an expiration date [see Silvio Gesell]: as Byrne Hobart writes, "programmable money, tied to real-world identities, and universally tracked by a central bank, starts to look suspiciously like a substitute for the consumer of last resort. Every year that China gets richer, domestic consumption plays a...

Taking an integrative approach to the world system.At a time when much of social science has come to be centred around either methodological individualism or methodological nationalism – the notions that individuals and nation states, respectfully, are the most relevant units of analysis – Amin’s attention to global structures, that underpin an international system of exploitation, is a much needed contrast. In Amin’s work, both the structure of the global economy and the structural...