Mike Norman Economics

Winning the battle and losing the war.NEOUS Loses Myanmar to ChinaJoseph Thomas

In May 2020, the IMF published a new Working Paper (No 20/73) – Hysteresis and Business Cycles – which provides some insights into what happens during an economic cycle. The IMF are somewhat late to the party as they usually are. We have known about the concept and relevance of hysteresis since the 1980s. In terms of the academic work, I was one of the earliest contributors to the hysteresis literature in the world. I published several articles on the topic in the 1980s that came out of my...

Meeting the onslaught. MacrobusinessAFR does hatchet job on Kohler MMT pushDavid Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal

Review of The Case For a Job Guarantee, by Pavlina Tcherneva (Wiley, 2020). An idea whose time has come. The demand for some version of a federal job guarantee is not new in US politics. Tcherneva highlights that the idea was part of the UN Declaration of Human Rights and Franklin D. Roosevelt’s Economic Bill of Rights, as well as a key issue raised during the Civil Rights Movement. Though there were some impressive federal job programs mounted during the New Deal, the author calls the Job...

The research into Learned Helplessness has also shown why some people can fall behind.Numerous studies have shown that children who grow up in more deprived neighbourhoods tend to have worse physical health as adults compared to those raised in more affluent areas. Your Childhood Neighbourhood Could Affect You on an Epigenetic Level, Says New StudyYour Environment Could Be Changing Your IQ on a Genetic Level, Study Findsamp

When I tweeted that pulling statues down was destroying heritage, I got a lot of backlash for it. I said if I go to Rome I would prefer to see the ancient buildings in all their splendider rather than ruins, despite Rome's brutal history. Cancel culture comes full circle as an MP is fired for posting an article from The Independent. [embedded content]

MMT is coming!Every time house prices go up the financial press states that the country has become wealthier, but all that has happened is that wealth has been transferred from one section of the public (those that don't own houses) to another (those that do).The governor of the Bank of England is a public servant. He recently claimed that the UK almost went bankrupt at the beginning of the coronavirus pandemic. But how does a country that issues its own currency go bust? Or are we in danger...

Could the principles of Modern Monetary Theory show us a way out of the current economic crisis? The BBC now!Stephanie Kelton. The BBC - Why we need to grow the deficit

This guy is Colombian and is a serial entrepreneur who has often enjoyed dangerous sports earning money from them. So, he's not someone you might expect to be a typical CCP supporter.Anyway, one freedom that China has which much of the world hasn't, is freedom from fear. People are relaxed and friendly in China.So, is living in dormitories provided by companies in China is really that bad? Well, if you think so then try living as a poor person in the US.Socialism in China - How GOVERNMENT...

After having previously been ignored and disparaged for decades by mainstream economists and politicians, MMT has been making the headlines and finding its way into a growing public conversation. Two significant publications over the last few weeks are challenging the very basis upon which government policy is determined; ‘does it fit with our political agenda, is it affordable’ and ‘how can it be paid for?’ ‘The Deficit Myth’ by Stephanie Kelton was described by Professor Hans G Despain...