Mike Norman Economics

Remember how well Smoot-Hawley worked.What are illegitimate sanctions? Those imposed without a UN mandate.TASSPutin calls to clear global trade from illegitimate sanctions

China firmly supports the United Nations' central role in global affairs and opposes any country acting like boss of the world, President Xi Jinping said on Monday.Xi made the remark in a video speech delivered at a high-level meeting in honor of the UN's 75th anniversary.… "The understanding that we are all in the same boat is now the popular consensus in the global community," he said. China DailyXi: No nation should act like boss of the world An BaijieAlsoZero HedgeTrump Denounces...

Deal, no deal. Now it is, "no deal."Zero HedgeBeijing Says "No!" To Washington's Attempted "Robbery" Of TikTokTyler Durden

 Andre Vltchek, a Russian-born American journalist, was found dead in his car in Istanbul on Tuesday. Police are treating the circumstances around his death as “suspicious.”US journalist found dead in Istanbul under 'suspicious' circumstances

In this post, I continue the draft of sections of my forthcoming book, “Marxian Economics: An Introduction.” This, like the previous three posts (here, here, and here), is written to serve as the basis for chapter 1, Marxian Economics Today.... Occasional Links & CommentaryWhy Marxian economics? David F. Ruccio | Professor of Economics, University of Notre Dame.

Mathew Lawrence makes the point that "capitalism" means institutionally favoring or capital over other factors of production — labor (people) and land (environment). This is a policy choice. It can be changed to create a more integrated system that functions more effectively and efficiently for society as a whole.Goldsmith's – University of London Recoding capital: how transforming the law is vital for a green recovery Mathew Lawrence

The German daily business newspaper Handelsblatt published an interesting article last week (September 17, 2020) –Schäuble fordert Debatte über lockere Geldpolitik der EZB – which said that the former German Finance Minister and now President of the Bundestag was calling for a debate on the ECBs ‘loose’ monetary policy. He has circulated a letter and a discussion paper among the new discussion group within the Bundestag, created after the German Constitutional Court had ruled adversely in...

I have read a book review by Steven Pressman in the Journal of Post Keynesian Economics (JPKE). The book he reviewed is “Rethinking the theory of money, credit, and macroeconomics: A new statement for the twenty-first century” by John Smithin. I am sure the book is just as interesting as the book review, but I would like to focus on a single paragraph that shows a certain disconnect between Post-Keynesian theory and reality.  Hypothesis testing. econoblog 101Post-Keynesian theory and...

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Going to gold.Zero Hedge"Paper Gold No Longer As Important" - BofA Finds Physical Demand Now Key To Gold PricesTyler Durden