Mike Norman Economics

It is Wednesday and I have been tied up all day working on the MOOC that will be launched in early March. We have been filming a lot and it is starting to take shape (see below for more details on how you can enrol). So just a light blog day but that doesn’t mean what I am writing is trivial. The two stories demonstrate how far we have to go on the progressive side of the debate before we actually make progress. It is, unfortunately a repeating tale and it is hard to define a strategy that...

Constructive criticism.Kelton rightly says that monetary sovereignty is a continuum rather than a binary classification. Countries have different levels of monetary sovereignty. Where would India fit in? The Indian government mostly borrows in rupees. Yet, the country as a whole borrows from the rest of the world. One of the central claims of MMT is that governments do not face any financial constraints. They only face real constraints. However, countries such as India do face a financial...

This is a controversial topic. I state why I think it was the right move. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman

I think it's wonderful especially as I love the sea. It's functional but has a majestic beauty. Fort Boyard was suggested as early as the 17th century, but it was not until the 1800s under Napoleon Bonaparte that work began. Wikipedia https://en.m.wikipedia.org/wiki/Fort_Boyard_(fortification)I found some inside photos. 

 Some philosophy of economics, or foundations of economics, if you prefer.The object of philosophy is the logical clarification of thoughts.Philosophy is not a theory but an activity.A philosophical work consists essentially of elucidations.The result of philosophy is not a number of “philosophical propositions”, but to make propositions clear.Philosophy should make clear and delimit sharply the thoughts which otherwise are, as it were, opaque and blurred.— Ludwig Wittgenstein, Tractatus...

An observation that I have seen various people on Twitter make is the convergence towards the Modern Modern Theory (MMT) view with regards to the recent fiscal policy debate. The debate is about overheating, and not whether bond market or currency market vigilantes will block expansionary fiscal policy. The inter-temporal governmental budget constraint -- and even its ugly stepchild, the r versus g debate -- is nowhere to be seen. There is more to MMT than just the Functional Finance parts,...

 Asahi Noguchi "has also lectured ruling party lawmakers on modern monetary theory (MMT) – a concept floated by some U.S. academics as a means to boost the economy via unlimited money-printing.Not a proper characterization of MMT, but at least a mention. And it is progress that an MMT advocate may be on the BOJ board.ReutersJapan govt's reflationist nominee for BOJ board wins lower house approval

Guardian editorial based on MMT economists Randy Wray and Yeva Nersisyan.As Yeva Nersisyan and Randall Wray of the Levy Institute have pointed out, the US government is engaged in relief, not stimulus, spending. It is offering much-needed assistance to the devastated balance sheets of households, school districts and local governments. Rescuing public services, making sure people don’t starve and building Covid-testing systems is not an economic stimulus but a necessary antidepressant....

Fascinating, plus a good brush up on how to improve my syntax and grammar. How is it that human beings have come to acquire language? Steven Pinker's introduction to the field includes thoughts on the evolution of spoken language and the debate over the existence of an innate universal grammar, as well as an exploration of why language is such a fundamental part of social relationships, human biology, and human evolution. Finally, Pinker touches on the wide variety of applications for...