Mike Norman Economics

“The word ‘socialism’ sounds very scary to many people,” said Canadian political economist Radhika Desai in a recent interview. “Because of the propaganda against the idea of socialism, we’ve been made to fear socialism,” she added....Interesting but lacks a systems view, so the analysis is limited to "myth-busting" by attacking straw man arguments.Internationalist 360ºCanadian Economist Dispels 4 Myths About SocialismRadhika Desai | professor with the Department of Political Studies at...

While progressive-sort-of politicians, at least they say they are progressive, work out all the ways they can parrot mainstream macroeconomics textbooks about fiscal deficits and public debt to make themselves appear ‘credible’, even using credibility in the title of key fiscal rules they advocate, the world passes them by rather quickly. British Labour is crippled by, among other things like Europe, their belief that the City (finance) is powerful and the state has to appease the interests...

Glen Canyon Taj Mahal at sunrise 

Trapped in a groundswell of anti-China sentiment, US President Joe Biden’s team appears to be staying the course set by the previous administration. A better way would be for both sides to go back to basics – the economics and trade issues that have long anchored the US-China relationship.Poisoned relationship. There is more to it, however. A big reason for the Chinese sentiment other than the constant propaganda in the media and from politician is the precariousness of the middle class and...

Technological disruption as the world enters the digital age is taking place in a way that is similar to the disruption that occurred in the transition from feudalism to capitalism and the transition from the agricultural age to the industrial age. While that transition was eventually completed, the process was painful for many. Are we now facing a repeat? What are the social and political implications of the shifting economic landscape?The Radford Free PressReform of What?Peter Radford See...

The very fact that a trade deficit exists is proof that it has been financed. And vice-versa. Trade surpluses are evidence of being a creditor. 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

Abandoning specific numerical targets, Chinese economic policy enters uncharted territory.But Xi has made it rather clear that he doesn’t intend to run China like a corporation, instead preoccupying his first two terms with imposing longer-term thinking—for example by consistently touting the “two centenary goals.”...Macro Polo — Paulson InstituteThe Post-Target Paradigm: Analyzing China Just Got Harder but More InterestingDamien MaPaulson Institute is an independent institute at the...

India PunchlineTalks in Alaska can be transformative for US-China tiesM. K. Bhadrakumar | retired diplomat with the Indian Foreign ServiceTom DispatchWashington’s Delusion of Endless World DominionAlfred McCoyCounterpunchChina and the Perils of Bi-PartisanshipJohn FefferTeam Biden: Diplomatic and Strategic Failure (right out of the gate)Melvin GoodmanZero HedgeUS Hits China With Human Rights Sanctions In Major Joint Action With Western AlliesChina Retaliates After EU Sanctions CCP Over...

In George Orwell’s novel Animal Farm, the ruling pigs led by Napoleon constantly rewrote history in order to justify and reinforce their own continuing power. The rewriting by the western powers of the history of the ongoing conflict in Syria leaps out of Orwell....Historical backgrounder.India PunchlineTen years on, Syria is almost destroyed. Who’s to blame?M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service

Excellent analysis of capitalism with Chinese characteristicsIt is about the opportunities, challenges and dangers that capitalism entails, and how to deal with these issues in a developing socialist country. There is little or no development outside of capitalism but unbridled capitalism will take over everything and eventually run amok. The Chinese leadership understands this, and the example of the West stands as a warning, showing the pitfalls to avoid without throwing the baby out with...