Mike Norman Economics

My MOOC is in full-swing (over 3000 participants) and I am quite busy getting Week 2 up and running and then Weeks 3 and 4. So, today, we have our regular guest blogger, Professor Scott Baum from Griffith University who has been one of my regular research colleagues over a long period of time. Today he is examining the creeping tendency in the political debate and media to start to focus on questions like when will the debt be paid back. Journalists have been asking me to estimate the...

We saw this in the second half of 2020, but it was the other way around with techs in the lead. 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

The British Empire was based on sea power, which was then extended to air power, especially when the British Empire evolved into the Anglo-American Empire. The next iteration is control of the digital world, which is established on the basis of intellectual property rights that the empire enforces globally backed by economic and military power.This moment in the historical dialectic has several major aspects, one of which is transition away from Western hegemony, which involves...

Male brewers saw an opportunity. To reduce their competition in the beer trade, these men accused female brewers of being witches and using their cauldrons to brew up magic potions instead of booze.Unfortunately, the rumors took hold.econinterssectWomen Used To Dominate The Beer Industry Until The Witch Accusations Started Pouring InLaken Brooks

There is, in fact, much reason to believe that the natural state of human social ecologies is much more egalitarian than it is hierarchical (see Bingham & Souza, 2009). As Wilson and others in the field have argued, social inequality, which is so dominant across many modern economies, is, in fact, not the modal form of wealth distribution that our ancestors evolved to experience. In his newest book, Atlas Hugged, David Sloan Wilson (2020) makes a compelling case that...

In 1967, at the half-centennial of the Russian Revolution, the Royal Institute of international Affairs (RIIA) in London published a book “The Impact of the Russian Revolution” with a star cast of authors. The book’s objective was to assess how internationally influential was the Russian Revolution.Several authors (including Toynbee) tend to regard the communist ideology, the modified Marxism as defined by Lenin, as a particularly mischievous trick whereby Russians were able to appeal to the...

If you were to ask me what the greatest intellectual error of the past fifty years has been I wouldn’t hesitate. Shareholder value. It’s an easy response. Yes, it reflects my own curious interest in the fundamentals of business and its intersection with economics, but it is also emblematic of so much more.Derived as it is from the wrong turn in economics and politics in the middle of the last century it carries with it so many of the ill founded ideas that have brought us all to where we...

The pre-order period for the electronic book version of Modern Monetary Theory and the Recovery is now live (link to pre-order description, including table of contents). The ebook release date is March 11. (Paperback formatting is still underway.)This article is the introductory section to the book, which describes its themes....Bond Economics  Modern Monetary Theory And The Recovery: IntroductionBrian Romanchuk

 Russia was supposed to have messed with the United States democracy, but no evidence was ever found, despite this, the Western media was outraged, but now that real evidence has emerged of an extensive UK disinformation war against Russia, involving hundreds of journalists, the Western media is completely silent. Leaked documents expose how the United Kingdom’s Foreign and Commonwealth Office (FCO) contracted major news outlets like the BBC and Reuters, among other fronts for British...

 It's probably best article I've read on this, in that it's so concise and to the point, plus it has lots of references to back to back up the points raised. The USA are liars with a profit motive and we’ve seen how good they are. Don’t fall for it.Authorities assert that they are what one would call deradicalisation centres. Those who are detained in these centres are mostly current (or former) members of the East Turkestan Islamic Movement, a jihad organisation most active in Xinjiang....