Mike Norman Economics

Here is some analysis of Tuesday’s Fiscal Statement from the Australian Treasurer. It was touted as the most important fiscal statement in 100 years (or something like that). What we got was a supply-side statement about markets creating jobs, massive tax cuts for high income earners and virtually nothing for the lowest paid. There was very little about the climate crisis. There was a lot of talk about jobs, jobs, jobs but no direct job creation. And the Government’s own estimates suggest...

Interestingly, the ancient Vedic concept of the structure of time anticipated something comparable to this cyclical modern theory rather than a beginning of creation as in most creation myths. There is also an ontological and epistemological account of this that is based on the cognition of seers. In fact, anyone with knowledge of the Vedic view would have seen the modern view of the Big Bang as the beginning as incomplete. Similarly, in the ancient view characteristic of most wisdom...

I told you this was going to happen. 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

Numbers. MR OnlineWhy America’s economic war on China is failingV J. Prashad and John Ross

First in a series on DSGE Macro. Cutting through the fog.Bond Economics "Reading The Stars": Best Introduction To DSGE Macro?Brian Romanchuk

Analysts are remarking on the “spikiness” of many high-frequency economic indicators in the present downturn. The path to recovery has not been smooth, partly because the main source of this downturn does not lie within the economic cycle per se, but rather within the restrictions governments implemented to stop the spread of the virus. A delayed ebb and flow of economic activity can be expected where the virus resurges and countermeasures are reimposed. Executive respondents to McKinsey’s...

Backgrounder on China. Fairly short and to the point.Bill Totten's WeblogWhat advantages does China have over the USA?Daye YoungSee also Bill Totten's Weblog ̌Book review.When China Rules the World (2009) by Martin JacquesJohn GraySee alsoProject SyndicateEurope’s “Green China” ChallengeDaniel Gros

In this post, I continue the draft of sections of my forthcoming book, “Marxian Economics: An Introduction.” The first five posts (here, here, here, here, and here) will serve as the basis for chapter 1, Marxian Economics Today. The text of this post is for Chapter 2, Marxian Economics Versus Mainstream Economics (a short addendum to a previous post on Economic Theories and Systems).Occasional Links & CommentaryPerformative economicsDavid F. Ruccio | Professor Emeritus of Economics,...

Neo-feudalism on the rise in "liberal" countries.Stumbling and MumblingOn feudal exploitationChris Dillow | Investors Chronicle