Mike Norman Economics

On March 25, 2021, a member of the US House of Represenatives “introduced a resolution in the House of Representatives this week condemning Modern Monetary Theory, recognizing that its implementation would lead to higher deficits and inflation”, while a “companion bill” was introduced into the US Senate (Source). The full text of the proposed legislation is available – HERE. The Bill is full of factual errors. But I thought the most significant aspect is the ‘authorities’ they call upon for...

 China is accused of atrocities in Xinglian, but no one is allowed to go and check it out. The EU refused to go too when it was invited.So far at the UN, a total of 80 nations have expressed support for China's policies in Xinjiang - while only 39 have opposed them, but western media never mentions this. UNITED NATIONS (Reuters) - The United States and other western countries have objected to a visit by the United Nations counterterrorism chief to China’s remote Xinjiang, where U.N. experts...

Supply chain issues have been the main driver of price increases. 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

To sustain growth, China is pushing a "dual circulation" development paradigm, which has been mentioned as a guiding thought in a blueprint for its development in the next five to 15 years."China will advance the building of a strong domestic market and a strong trading nation in a concerted way, based on the domestic circulation," read the Outline of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.What is...

Over the past few years, this graph has become a sensation. Developed by Our World In Data and promoted widely by Bill Gates and Steven Pinker, the graph gives the impression that virtually all of humanity was in “extreme poverty” as of 1820 (i.e., living on less than $1.90 per day, PPP; less than is required for basic food). OWID has used this figure to claim that extreme poverty was the natural or baseline condition of humanity, extending far back into the past: “in the thousands of years...

Part One: introductionIn a career that has spanned 71 years, ever since as a first semester freshman I took Willard Van Orman Quine’s course on symbolic logic, I have devoted extended periods of time to the study and interpretation of the writings of two great thinkers: Immanuel Kant and Karl Marx. To the thought of each I devoted two books and a number of lengthy essays. Kant was my first love and my first great challenge. When I had come to terms with his thought, I was sure I would never...

If public goods are appropriately designed, and if policymakers cooperate, digital technology can be harnessed to bring more people - particularly the poorest - into the financial system. Broad diffusion of technology may help make societies not only more efficient, but more equitable and better prepared for the digital future. Innovation must be shaped to benefit everyone....It is also good business. Expands and eventually upgrades the market as more people move into the middle...

There’s nothing wrong with people publishing research that turns out to be mistaken. No problem at all. Sometimes you can’t know a path is a dead end until you walk down it.The problem is not (necessarily) with the original study. The problem is with a scientific culture that doesn’t have a good way of letting go of these mistakes. Like a harbor clotted with sunken vessels....Statistical Modeling, Causal Inference, and Social Science“Like a harbor clotted with sunken vessels”: updateAndrew...

Hungarian Parliament 

  Summary: Researchers have carried out clinical trials to test a mutation-specific vaccine against malignant brain tumors. The vaccine has been found to be safe and effective in triggering the desired immune response in the brain cancer tumors.Tumor vaccines can help the body fight cancer. Mutations in the tumor genome often lead to protein changes that are typical of cancer. A vaccine can alert the patients’ immune system to these mutated proteins. Neuroscience News - Mutation-Specific...