Mike Norman Economics

 I agree with Yves' intro. Blah blah. But the article contains a short summary of the assumptions on which conventional (neoclassical) economics is based, and it is useful for that.The shortcoming of conventional economics is simple to diagnose. It is focusing overly on economic factors in complex adaptive social systems (human groups, societies) when other factors are not only relevant but also determinative, like social stratification, power, and distributional effects not only of income...

When using bookkeeping tools to do stock/flow analysis, it’s important to remember that we are just doing debits and credits and summing them up into stocks of debits and credits. We are using the tools of journals and balance sheets to do economic analysis.And that’s it. If you have experience of using these tools in other contexts beware of letting other matters from those contexts drift in. Chances are they don’t apply, or at least not in the way you think...New WaylandIt's Just Debits...

Might help...A common compound in mouthwashes found to inhibit SARS-CoV-2 in vitro - Researchers found that cetylpyridinium chloride, found in most mouthwashes, lowers infectivity of severe acute respiratory syndrome... - https://t.co/mNHWRgIvAX pic.twitter.com/madgCmOmj9— iWeller.com (@iWeller_health) December 24, 2020

 I don't know where this is leading? It looks rather creepy to me, but you can't hold back technology! They could help advanced nations, which have large aging populations with shrinking general populations, and the same with China too. [embedded content]

 The company fears problems in important Chinese markets.For the Chinese The ban on network companies from participating in the construction of 5g networks in Sweden has raised concerns among the network company Ericsson. The company fears sanctions in the important Chinese market and has launched a pressure campaign against the government, writes Dagens Nyheter.According to the magazine, he is the CEO of Ericsson Börje Ekholm sent by the Minister of Commerce Anna Hallberg text messages in...

 The new law prevents criminals from hiding money in US banks"It's difficult to overstate the importance of today's legislation,” he told The Independent, describing it as “the most significant anti-money laundering move the US has taken in decades, and potentially ever.”“Oligarchs and kleptocrats, gun-runners and cartel heads, wildlife poachers and human traffickers — anyone with a bit of dirty money burning holes in their pocket, really — can no longer turn to American shell companies for...

What are your thoughts? Just remember, the truth doesn’t matter. All major institutions will have to conform to the narrative that gets written by the powerful. As I have said before, no one in power will ever want a cost-benefit analysis of their policy choices—what is the incentive to prove yourself an idiot to the world? If anything, there will be some reports written that have obviously implausible counterfactuals and these will become the standard reference point for the official...

The Money on the Left Editorial Collective presents a classic episode from our archives along with a previously unavailable transcript & graphic art. In this episode, we are joined by Christine Desan, Leo Goettlieb professor of law at Harvard Law School to discuss her excellent book, Making Money: Coin, Currency, and the Coming of Capitalism. Desan argues that money is a constitutional project, countering the dubious “commodity” theory common to contemporary economic and legal...

Nature and evolutionHumans are not designed to be happy, or even content. Instead, we are designed primarily to survive and reproduce, like every other creature in the natural world. A state of contentment is discouraged by nature because it would lower our guard against possible threats to our survival.The fact that evolution has prioritised the development of a big frontal lobe in our brain (which gives us excellent executive and analytical abilities) over a natural ability to be happy,...

Of interest. More about MMT culture than MMT economics.TNRThis Year's Underground Sensation: Modern MonetaryTheoryAlex Yablon