Mike Norman Economics

Keynes on eugenics. Keynes was concerned with Malthusian effects — population outstripping resources — in the developing world and advocated birth control.Marginal RevolutionMy excellent Conversation with Zach CarterTyler Cowen | Holbert C. Harris Chair of Economics at George Mason University and serves as chairman and general director of the Mercatus Center

Just deserts based on marginal contribution or institutional bias?Economic Policy InstituteWages for the top 1% skyrocketed 160% since 1979 while the share of wages for the bottom 90% shrunk: Time to remake wage pattern with economic policies that generate robust wage-growth for vast majorityLawrence Mishel and Jori Kandra

Janet Yellen is married to George Akerlof. The post is mostly about him.George Akerlof's foremost contributions to economics are similar in kind (though not in content) to Hyman Minsky's in that they both brought to the fore extremely important information that was being overlooked, Akerlof in micro and Minsky in macro. EconospeakYellen And Akerlof Or Akerlof and Yellen?J. Barkley Rosser | Professor of Economics and Business Administration James Madison University

With modern money theory (MMT) receiving impressive attention, the implications this theory has for developing countries have also been discussed more intensely. Emphasizing both its strengths and gaps provides a great chance to further develop macroeconomic strategies for poverty reduction and environmental sustainability.Developing EconomicsEconomic Sovereignty for Developing Countries: What Role for Modern Money Theory?Basil Oberholzer

How did Richard Murphy do in summarizing MMT?Tax Research UKMMT: a primerRichard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum

Review of Christian Sorensen’s Understanding the War Industry (Clarity Press, 2020). Numbers.Bill Totten's WeblogUnderstanding the War Industry (2020)Jeremy Kuzmarov

 Hypothetical, but worth considering the numbers.The conditions are in place for a credit crunch owing to corporate debt if things don't turn around and governments don't step in. The situation is tenuous, and the US government is looking like it is turning back toward debt and deficit phobia based on Biden's economic team and the traditional GOP fiscal conservatism in Democratic administrations, which will be a factor unless Democrats take the US Senate.  Michael Roberts Blog — blogging...

I guess she is saying to expect Reserve Assets to go even higher, and that Fed can still maintain interest rate policy under those conditions... which I guess is their one job...Nothing about their figure of speech “inflation!”...A Return to Operating with Abundant ReservesRemarks by Lorie K. Logan, EVP, Markets, before the Money Marketeers of New York Universityhttps://t.co/Y4QOtT7Vxk pic.twitter.com/ojJ4tGqRMd— New York Fed (@NewYorkFed) December 1, 2020

With interest rates hitting their effective lower bound, and the general skepticism towards the effects of growing central bank balance sheets via buying central government bonds, central bankers are being forced into a role they had largely avoided: directly extending credit to actors other than the central government. In some ways, this is a reversion to pre-World War II norms. From an analytical perspective, this shift largely eliminates the usefulness of most macro theory with respect to...

Injections starting next week... US a week or two after that...These will be REAL injections ... as opposed to the figurative “injections of money!”....  ofc Art Degree morons in charge will continue to think they are both real...Coronavirus live updates: U.K. greenlights Pfizer vaccine; U.S. OKs a new antibody test https://t.co/ljXE14bU3F— CNBC (@CNBC) December 2, 2020