Mike Norman Economics

As Johanna Ross observes, this is geopolitics and geo-strategy in the style of the grand chessboard on which great powers contend for control of territory. What she doesn't point out is the that real objective of the US/UK is first forcing Russia to submit to US/UK imperial rule so that it can use this leverage on China's Western border, along with the Seventh Fleet and bases surrounding China to the east to force China into submission, thereby cement permanent US/UK hegemony as the first...

Zombie attack.Bond Economics Bond Market PanicBrian Romanchuk

Popular explanation of currency sovereignty and its implications for the EZ. Plus a Wynne Godley quote.Thomas Fazi and Bill Mitchell wrote Reclaiming the State together. Fazi is an Italian journalist.SpikedThe EU will choke off Europe's recoveryThomas Fazi

Just because you are paranoid doesn’t mean you’re not being watched..... Not yet seeing uptick in New Yorkers returning to offices as per @KastleSystems card swipes … relative to last March, there has been very little recovery & off recent “high” in October @Bloomberg pic.twitter.com/mBv4ek2j2G— Liz Ann Sonders (@LizAnnSonders) February 25, 2021

Once an obscure topic, China’s industrial policy now gets attention from heads of state. The entire US-China trade war waged by the Trump administration was, in formal legal terms any way, justified as a response to distorting industrial policy. Understanding industrial policy seems to be a requirement for participating in current intellectual debates about China.Thankfully, Barry Naughton has written a short and highly readable book, The Rise of China’s Industrial Policy, 1978 to 2020, that...

Mostly focused on Russian relations with the Muslim world. Russia has good relations with both the Muslim world and Israel even though it is backing Syria and, more modestly, Iran. This is a difficult balancing act that he credits Putin with managing well. It also helps that the Russian Federation is a multi-ethnic and multi-cultural state with good domestic relations and respect for different peoples and traditions.Under President Putin’s outstanding leadership, Russia has successfully...

Reading the article, it is not known that "China hijacked an NSA hacking tool." While it seems to be the case that a China-based group obtained the tool, it is not known conclusively who originated it or how it was obtained, eg., directly or through another source.The author of the article is not necessarily responsible for the title. That is an editorial choice. But this seems to be a piece in the pattern of attributing loss of information to Russian and Chinese government hackers based on...

Our national divide is usually cast in terms of ideology, race, climate, and gender. But it might be more accurate to see our national conflict as regional and riven by economic function. The schism is between two ways of making a living, one based in the incorporeal world of media and digital transactions, the other in the tangible world of making, growing, and using real things.Birth pangs of the transition from the chiefly industrial age, when even agriculture was industrialized, to the...

Cooperation is not cowardice, as American conservatives repeatedly claim. Both the US and China have much to gain from it: peace, expanded markets, accelerated technological progress, the avoidance of a new arms race, progress against COVID-19, a robust global jobs recovery, and a shared effort against climate change.Like no-brainer. Except the US would have to forego "full-spectrum dominance," which is a step too far, it seems.And Jeffrey Sachs appears to be under some illusions about...

Got an evidence-based argument? Maybe forget about it. Decision making is rational but there are more factors than evidence-based argument. This is an issue in the dialectic between liberalism and traditionalism. The liberal view of economics is that rationality trumps and rationality is based on economic maximization. Traditionalists may see it otherwise — which is a reason that many votes against their economic interests in favor of other factors they value more.The panels supported...