Mike Norman Economics

Inflationary pressures can originate from the demand side or the supply side of the economy. Demand-side inflation, known as demand-pull inflation, becomes increasingly likely as the economy nears full capacity. Inflation driven from the supply side, referred to as cost-push inflation, is possible in the absence of any excess demand for goods and services.A supply shock can cause one-off price hikes, independently of demand conditions, but for the one-off effect to act as a catalyst for...

 Bond price reduction reducing depository system Residual by $20B from recent highs last summer....

Beijing’s most senior envoys, Yang Jiechi and Wang Yi, may be sent for face-to-face discussions with their American counterparts in AnchorageTalks could be a chance to find common ground and begin to leave the Trump era behind, analyst says Washington confirms direct engagement between US and Chinese diplomats

Russia has signed a deal to produce its Sputnik V coronavirus vaccine in Italy, the first contract in the European Union, the Italian Russian Chamber of Commerce announced Tuesday.AP NewsRussia to make Sputnik V vaccine in Italy, a first in EU

Its Wednesday and only a short blog post day – well a collection of items I accumulate during the week. Week 2 of our MOOC – Modern Monetary Theory: Economics for the 21st Century – begins today and you can find enrolment details below. We also have some culture today – a beautiful poem which inspires optimism and some music that inspires past memories....Bill Mitchell – billy blogWeek 2 of the MOOC Modern Monetary Theory: Economics for the 21st Century starts todayBill Mitchell | Professor...

I've been talking about this for 2 years. 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

Short but detailed analysis.Reuters China at least 30 years away from becoming manufacturing ‘great power’: former minister 

 The US also blocked the import of spare parts that Venezuela needed to maintain their oil rigs.Moon Of Alabama looks at what caused Venezuela's woes. Also, how the MSM feeds the narrative about corruption.Isn't there something missing in the above? Was the 'decay of the country’s oil infrastructure' really caused by Maduro? Or did the U.S. have something to do with that?Six paragraphs further down we learn what really is causing Venezuela's problems:[O]ne of the officials who briefed...

Profit (intellectual property rights) over people.Corporate Europe Observatory - ExposingThe EU is playing a dirty game in WTO vaccines-talksHans Van Schaaren

Dani Rodrik is an economist so his view is a bit biased in that direction, but he makes good points overall. For a more complete picture, critiques from other disciplines would be needed, along with critques from within the economics profession. Oh wait, heterodox economists have written on this profusely. And Rodrik only refers to non-economist critiques from other professions obliquely.The issue is mooted by low likelihood that economists will modify their bias anytime soon. This has...