Mike Norman Economics

 It looks like Europe is quite keen on the Peace Cable.An undersea cable will emerge later this year near a popular sunbathing spot in the French port of Marseille. The cable, known as Peace, will travel over land from China to Pakistan, where it heads underwater and snakes along for about 7,500 miles of ocean floor via the Horn of Africa before terminating in France.The Peace cable, which is being built by Chinese companies, will be able to transport enough data in one second for 90,000...

 Adam Smith's invisible hand is the opposite of what the right believes.[embedded content]

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