Mike Norman Economics

Yes, we can. Similar to a policy rate, YCC aims to control interest rates along some portion of the yield curve. The yield curve is usually defined as the range of yields on Treasury securities from three-month Treasury bills to 30-year Treasury bonds. However, YCC targets longer-term rates directly by imposing interest rate caps on particular maturities. Because bond prices and yields are inversely related, this also implies a price floor for targeted maturities. If bond prices (yields)...

This textbook demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. The math works well on college blackboards but not so well on the Main Streets of America. This volume explores the realities of oligopolies, the real impact of the minimum wage, the double-edged sword of free trade, and other ways in which powerful institutions cause distortions in the mainstream models. Bringing together the work of key scholars, such as Kahneman,...

One of the standard criticisms raised by many neoclassical economists is that there is nothing new to MMT. Given that neoclassical economists and MMT proponents have been arguing loudly online for over a decade, it seems hard to support the view that MMT is a subset of neoclassical economics. (Another weak point in the argument is that the person making it rarely has read any MMT academic work, so the critic is not exactly sure what features are part of neoclassical economics.) A slightly...

Interesting from the perspective of a "progressive" criticism of MMT. It worth looking at to see how difficult it is going to be to get beyond ideological preconceptions. The author has taken the time to read The Deficit Myth and the recently published MMT macro textbook. The criticism is not that MMT is "wrong," but rather than it misrepresents some things that "progressives" get right. The author also thinks that the foundation for MMT's theory of money in Knapp's chartalism is...

Jeffrey Sachs says China is not the enemy, or the dark, evil communist power that many in the US say it is. He's says China is just trying to do its best for its people and the US should do the same by adopting the Swedish model. He says that too many people in the US just want to dominate the world and remain on top rather cooperate with foreign powers to everyone's benefit, including America's.Economist and best-selling author Jeffrey Sachs says a geopolitical Cold War with China would be...

Fiscal flows (spending) is accelerating. This is what's driving the market higher and only two things can trigger a correction. 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

Fiscal flows (spending) is accelerating. This is what's driving the market higher and only two things can trigger a correction. 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

In his role as Secretary-General of the Global Sharing Economy Alliance, Ge gave a presentation entitled "The Great Sharing Economy Gives Birth to Unicorns". He pointed out that traditional sharing economy models that share small property rights on commodities such as cars, bicycles, and home rentals is transitioning to a model where larger business assets such as capital, production capacity, and intellectual property rights are made available for sharing. TASSOver 80% of China's Unicorn...

Important. China prepares for decoupling (and WWIII).The Vineyard of the SakerChina: everything proceeding according to planPepe Escobar

At last week’s National Cabinet meeting (August 21, 2020), the governor of the Reserve Bank of Australia continued to play a political role in the economic debate despite hiding behind the veil of ‘independence’ from such matters. A few weeks ago, the federal government claimed the state and territory governments were not doing enough by way of fiscal stimulus to reduce the job losses associated with the pandemic. The Federal government is essentially trying to force the political...