Mike Norman Economics

We have been doing a lot of work developing the MOOC at the University of Newcastle which will also mark the first – MMTed material. We will follow up the MOOC with more detailed learning options in subsequent months. Tomorrow, we will be filming some more material for the MOOC and I think you will enjoy what we have planned when the MOOC begins on March 3, 2021. As part of the planning I have been thinking of simplified frameworks for teaching rather complicated concepts and relationships....

PPECapitalist Political EconomyHeather WhitesideMoon of Alabama (been going on for a least a century)New Documents Reveal More British Efforts To Undermine RussiaSouthFront (cites a Telegraph article that is behind a paywall)Churchill Labeled ‘White Supremacist’ By Leading British ScholarsRay McGovern (red lines)US-Russia, Recent History and Outlook for the FutureRay McGovern, co-founder of Veteran Intelligence Professionals for Sanity, and retired 27-year career CIA whose tasks included...

The “New World Order” proclaimed by G. H. W. Bush after 1990 was to be an order, not without sovereign nation-states, but with just one sovereign nation-state, the United States. That state, acting as a world-state in waiting, was to take the place of the so-called Liberal International Order, which was allegedly multilateral but had in effect increasingly become unilateral and imperial…."The rules-based order."Then there is the "German question."In fact, one reason why I am against the kind...

The short answer is yes, and it should, immediately. 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

More foundational stuff that addresses the issue regarding why we don't have a satisfactory economic theory. The answer? Complexity. Economists prefer simple algorithms but these are not up to the job. The simple supply-demand methodology based on pop psychology (rational choice theory, rational maximization) has shown itself to be inadequate for the reasons that heterodox economists point out.And complex algorithms are, well, complex. So there is as yet no alternative theoretical framework...

De-colonization proceeds apace.Brave New EuropeRichard D. Wolff – The Centres of Global Capitalism Are Migrating Away From the U.S., Europe and JapanRichard D. Wolff | professor of economics emeritus at the University of Massachusetts, Amherst, and visiting professor in the Graduate Program in International Affairs of the New School University, in New York

BTC is a pyramid scheme, not a currency. The driving economic force is for existing holders to proselytise new members into the scheme. The new members in turn hope to recruit other members. The large existing holders have the financial capacity and incentive to bankroll conferences, researchers, etc. In order to take part in the gravy train, you just need to stick to the narrative....Bond Economics The New GoldBrian RomanchukAn opposing view.Guns, Goats 'N GoldMarket Weekly: Still Don’t...

 Since the 1950s, people have believed that saturated fat is bad for human health.This was originally based on observational studies showing that people who consumed a lot of saturated fat had higher rates of death from heart disease.The diet-heart hypothesis states that saturated fat raises LDL (bad) cholesterol in the blood, which then supposedly lodges in the arteries and causes heart disease.Even though this hypothesis has never been proven, most official dietary guidelines are based on...

The tensions in the public policy debate between economists is intensifying and on show in Europe, where these sort of obvious conflicts between adherence to dogma and a recognition that ‘out-the-box’ solutions are not only possible but preferred. More of these latter thought offerings are starting to appear as more people come to understand that the mainstream dogma has become more of a security blanket for reputations rather than saying anything about reality. One such proposal emerged...

Nice short summary of why "free market" is BS used for persuasion.It begins with a misrepresentation of Adam Smith (as Michael Hudson tirelesslyy points out).Supporters of ‘free’ markets use the word ‘free’ to mean free from government interference. They often quote the economist and philosopher, Adam Smith, who wrote about the ‘invisible hand of the market’ creating good outcomes for society. However, his writing has been deliberately distorted to turn it into propaganda. Smith used the...