Mike Norman Economics

Of five top candidates, authorities have singled out an experimental Chinese vaccine.Brazil is one of the world’s top COVID-19 vaccine testing grounds. Now officials there say that CoronaVac, the experimental COVID-19 vaccine from Chinese developer Sinovac, is the safest of the coronavirus immunizations evaluated in the country so far.“The first results of the clinical study conducted in Brazil prove that among all the vaccines tested in the country, CoronaVac is the safest, the one with the...

Today, on my blog-light day, I have a video of a recent event where I spoke (with other speakers being John Quiggin and Noel Pearson). The event was in conjunction with the Public Health Association of Australia’s annual conference and we are discussing the interface between health and the economy and the right to work and income security. It was an interesting and very civilised discussion. And when you are through watching that, we also have a ‘provocation’ to consider and then some jazz....

Nobody cares about the trade war and tariffs anymore. But at the time it was roiling markets and all the "Very Smart People" were saying it would be a disaster. Same now with the stimulus. 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

Funny.Strategic Culture Foundation (allegedly a Russian government front)Russophrenia – or How a Collapsing Country Runs the WorldPatrick ArmstrongSee also at SCFWhy You Won’t Find Us on Facebook, Twitter, and YouTubeSee also from Patrick Lawrence.Consortium NewsPATRICK LAWRENCE: The Damage Russiagate Has Done October 19, 2020

How the Trump administration failed to deal effectively with Covid-19.[embedded content]

The world is waking up to a new reality post the devastating pandemic that brought everything to a grinding halt. One of them is the rise of China as the undisputed new economic superpower.It looks like state planning works much better than the neoliberal free market, and I'm sure everyone knew that anyway, but the elite wanted to have their finger in everything, so it all got privatised. The West's handling of the Covid pandemic was disastrous, so China is now out at front. China’s economic...

The dynamic stochastic general equilibrium (DSGE) model literature is ever-growing, and new features are being continuously added. This makes it difficult to make generalisations about the literature. However, from a macro modelling perspective, we are mainly interested in models that might be used by a central bank to set interest rates. Even if we are not central bankers ourselves, we presumably want to understand how central bankers see their policy lever as working.... Bond...

How about letting the market work? Why not let the price of monoclonal antibodies rise until supply equals demand?If we did so, a thousands medical ethicists would scream about how rationing by price favors the rich.Suppose instead that we ration by political power—give it first to people with lots of clout:The Money IllusionPower >>>>> moneyScott Sumner | Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University

But the loss of Farzad-B is only the beginning. The India-Iran relationship awaits a strategic setback. Looking ahead, the forthcoming Malabar Exercise with Australia’s participation heralds a tumultuous period ahead where India and Iran’s core interests will no longer be reconcilable.Without doubt, India’s Quad strategy will complicate its relations with Iran. None of the Persian Gulf states (or Israel) will want to be part of the Quad, either, since they are in the same predicament as the...

For the record.My view on this is that it fails to correctly present the MMT position (again). MMT is a macroeconomic theory based on institutional analysis rather than being either an axiomatic system like conventional economics or a socio-economic and political analysis like Marxian economics. That is to say, MMT is framed in terms of the existing world system. It is an alternative to "neoliberalism," in so far as it is in the Paleo-Keynesian tradition (versus the New Keynesian or...