Mike Norman Economics

In this post, I continue the draft of sections of my forthcoming book, “Marxian Economics: An Introduction.” This, like the previous four posts (here, here, here, and here), is written to serve as the basis for chapter 1, Marxian Economics Today. The text of this post should pretty much finish up the draft of the first chapter.... Occasional Links & Commentary Marxian economics for the 21st century?David F. Ruccio | Professor Emeritus of Economics, University of Notre Dame.

Not a monetary gold standard, but green way of treating gold. Russia and China would never go for it, since they are principal gold miners and gold reserves are way to avoid being the victim of Western economic warfare led by the US.MoneynessAdopting a clean gold standardJP Koning

Not exactly in paradigm with MMT, but positive nevertheless.Social EuropeThe 'bazooka': Modern Monetary Theory in actionPeter Bofinger

Last week, there were some rather significant shifts in the public discourse surrounding macroeconomic policy and challenges made to the orthodox economics taboos that have been used to prevent governments from acting in the best interest of the citizens. First, the Australian treasurer broke away from the government’s previous obsession with fiscal surplus pursuit to announce that for the foreseeable future it was only going to concentrate on jobs and growth. In his statement, he basically...

Editorial calling for a Chinese "Manhattan Project" to compete technologically with the US.Note that Global Times is published by the People's Daily, official press organ of the CCP, but Global Time is not considered an official source. Global Times China needs new long tech march after US attack on SMIC: Global Times editorialSee also at Global TimesDeployment of US forces to Taiwan means war: Global Times editorial

The "FinCen Files" story reveals: getting caught not only doesn’t stop the world's biggest banks from moving dirty money, it may encourage them Substack (subscription may be required)Revenge of the Money LaunderersMatt Taibbi

Quillette (tribalism culturally and perspectivalism epistemologically)The Bias that Divides Us Keith E. Stanovich CaitlinJohnstone.com (Liberals are GOP lite — Rockefeller Republicans, but Progressives are center-left in comparison with the Left globally. The US no longer has a real left.)Why Liberals Hate Leftists Caitlin Johnstone The Intercept (Democrats not immune either. Neofascism is on the rise.)Democrats Need to Wake Up: The Trump Movement Is Shot Through With Fascism Rich...

Whilst those of us with a better understanding of how money works shout at the TV with incredulity that the same falsities are being repeated endlessly, many of those same journalists and presenters fail to make the very real connections between government spending, the state of the economy and the lives of its citizens.Whilst the implication of unaffordability and a future tax burden prevails as a reason to curtail spending eventually, the real price has been and remains a human one;...

Xu Zhijun, a rotating chairman of Huawei is on record in 2019 as saying: "If you look at the stock price of Tesla, you will know where the future of automobiles lies."His comment was foreshadowing as to where Huawei's future business efforts may be directed, according to Nikkei. In April 2019, the company set up a "smart car solutions" segment of its auto business. Their auto business currently has 5 segments: smart driving, smart cockpit platform, intelligent network, smart electric and...

Russia is joining China in developing the domestic economy as the driver of GDP.Russia and China are also increasing trade, reducing dependence on the others.Both countries are restructuring their economies owing to sanctions and increasing their strategic alliance economically as well as militarily.TASSDomestic demand to become main source of GDP growth in Russia in 2021-2023, says ministrysee alsoFinances improving as Russia de-dollarizes. But revenue from oil exports is also important,...