Mike Norman Economics

Aristotle, in his book on Politics, distinguished between two kinds of activities. Chrematistike (χρηματιστική) ​– sheer money-making – was considered morally inferior to Oikonomia (οἰκονομία) ​– the concern for morally adequate individual and public household management. In fact Aristotle cautioned against separating financial activities from public (political) oversight, as this Chrematistic ​logic leads to maximization strategies resulting in excesses. By contrast, the desirable...

You knew this was coming... here we go with the old "the bond market is saying!" anthropormorphism...Food for the bearish...The bond market flashes a red light about the U.S. economy while stocks show a steady green https://t.co/twpg1Ec6n1— Bloomberg Markets (@markets) July 19, 2020

 Quote from Macroeconomics by Mitchell, Wray and Watts showing that takes expectations into account.Lars P. Syll’s BlogDoes MMT — really — ignore expectations?Lars P. Syll | Professor, Malmo University

Ian Welsh (It can't happen here? It is happening.)The Portland Seizures Are the Next Step To Latin American Style FascismCrooks and Liars Portland Is What Trump's America Will Look Like If He's Reelected Mark Sumner  OpEdNews Trump sics Border Patrol on Portland protesters: Watching Constitutionally Protected Freedoms Die in Oregon Dave Lindorff PopularResistance.Org Oregon Sues Federal Agencies Over Protest Enforcement ACLU Sues Trump Administration Over Use Of...

China is upping the amps, essentially saying that the US has forfeited its global leadershp and gone rogue. Russia signs on to acknowledging reality instead of continuing to play nice.SCMP ('Pore)US has ‘lost its mind, morals and credibility’, China’s foreign minister tells Russian counterpart Laura Zhou

 In a very comprehensive discussion, Bob talks with Rohan Grey, Assistant Prof. of Law at Willamette University. Rohan is an expert on the history of US fiscal and monetary legislation, as well as Modern Monetary Theory (MMT). Mises InstituteRohan Grey Does a Deep Dive on Legality and Theory of MMT, Debt Ceiling, and Trillion Dollar Platinum Coin Robert P. Murphy in conversation with Rohan Grey

Granola Shotgun#FacePanties JohnnyGold, Goats 'N GunsRailway Politics: India Gets Lost Along the New Silk Roads Tom LuongoZero HedgeWhite Helmets Co-Founder [James Le Mesurier] Defrauded Organization To Fund Lavish WeddingTyler DurdenSputnik InternationalIran Calls South Korean Freeze on Oil Payments 'Unethical and Illegal'UK Needs to Present 'Extraordinary Proof' After Accusing Russia of Election Meddling, UKIP Head SaysDeclassified Docs Reveal FBI Knew Steele Dossier on Russia-Trump...

Philosophy of statistics if you are into this. About ontology (reality) and epistemology (knowledge) of statistical modeling.Statistical Modeling, Causal Inference, and Social Science“Frequentism-as-model”Andrew Gelman | Professor of Statistics and Political Science and Director of the Applied Statistics Center, Columbia University

 Hua Chunying delivers a back of the hand smackdown. China has finally decided to fight back in the war of words, and documented facts. Russia and Iran have already been responding, Iran in kind, and Russia more muted. The "information war" is a disinformation war, and the American/British side is famously short on delivering evidence. Moreover, the American establishment press does not report on the rebuttals from the other sides in the "debate." Fail.Dissident VoiceForeign Ministry...

There are 'no realistic scenarios' to make the economic growth demanded by capitalism compatible with a safe climate, researchers who advised the United Nations found. Industry and society are becoming more efficient, but instead of using less, this efficiency is making it easier to use more.Can we be happy with less? In the Scandinavian countries people are not so rich, but they tend to be happier places to live. The difference between the top wages and the lowest in Scandinavian...