Mike Norman Economics

In order to reduce the complexity of real economic activity to equations, economists must in effect choose between supposing that there is one dominant technique for the production of each distinct commodity and supposing that there are an infinite number of techniques for the production of each distinct commodity. To put this point as simply and formulaically as I can, they have to decide whether they are going to use linear algebra or calculus. The neoclassical assumption of an infinity of...

These allegations are founded on one undeniable aspect of China’s manufacturing eco-system: its control by the Chinese state, despite the substantial increase in private ownership of manufacturing equity. But what is inadequately emphasized in this discourse is that, using power centralized in the State, China is managing what was seen in market systems as impossible without “rivalry”—the planned acceleration of research and development, invention and innovation that advances both market and...

Hilarious.It used to be, "Anyone can become president," with hard work and luck. Now it's, "Anyone can become a billionaire," — if they have something to parlay.While Kardashian West owns several properties in Calabasas and "a portfolio of blue-chip investments, including shares of Disney, Amazon, Netflix and Adidas," it is the companies that she "launched herself" that "land her on the World’s Billionaires list," as the magazine puts it.Sputnik International'Everything That's Wrong With...

Its Wednesday and only a short blog post day. I have been following the disaster unfolding in Timor-Leste over the last few days as I continue to compile research material as part of the development of a plan to increase the resilience of the Island state. We know that accumulating new public infrastructure is a key to the growth process. It crowds-in private investment, which leverages off the capacity provided by such infrastructure. A lack of essential public infrastructure is a major...

Podcast and transcript of an interview with Australia’s Renegade EconomistsMichael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismDream House, Nightmare Mortgage: Carry on!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

Austrian economist, gold bug goofball, Jim Rickards equates MMT to communism. 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

 An excellent, short article from Ron Paul. Washington believes it's okay for it to meddle in other countries affairs, but says it's a crime if it is perceived that someone has done it to them. As could be expected, Moscow has responded to Zelensky’s decree and to the increasingly bellicose rhetoric in Kiev and Washington by repositioning troops and other military assets closer to its border with Ukraine. Does anyone doubt that if the US were in the same situation – for example, if China...

 The BMI is not state owned Chinese media. They seem to cover all sorts of big projects like this from all around the world.China makes no profit on its high-speed rail as they see it as a social good. Neoliberalism, with its privatisation and need for sufficient profits, can't cope with building a country's infrastructure. The Western answer is to try to destroy the competition. In Britain they have privatised almost everything so the oligarchs can make all the profits, and they recently...

Review of Lars Schall's soon forthcoming, Denken wie der Feind – 20 Jahre Ausnahmezustand 9/11 und die Geopolitik des Terrors (“Thinking Like the Enemy – 20 Years State of Emergency, 9/11 and the Geopolitics of Terror”). It will be initially published in German.The Unz ReviewBombshell Book in Germany Revives 9/11 as a Business Model, by Pepe EscobarPepe Escobar

 The 25% tariffs exactly equal the European taxes imposed. Washington is reportedly moving forward with its additional duties for hundreds of billions in imports from six nations in response to digital service taxes targeting the likes of Google and Amazon.A wide range of goods from the UK, Spain, Italy, Turkey, India and Austria could be hit with 25% tariffs, the US Trade Representative documents show. If the US goes ahead with the punitive measure after public consultations scheduled for...