Mike Norman Economics

Economist Stephanie Kelton’s new book about Modern Monetary Theory (MMT) explains the fundamental difference between governments that are currency issuers and households that are currency users. Rather than “tax and spend”—the household pattern—MMT says people need dollars to pay those taxes, so government must spend them first before it can ask for them to return in taxes. It’s not “tax and spend,” it must be “spend first, then retrieve some dollars in taxes.” This is exactly the right...

I feel cheated! [embedded content]

Breathtaking!The Romans must have felt their civilisation was very modern and would last forever. [embedded content]

Historical backgrounder on eurozone dystopia.Bill Mitchell – billy blogThe French inferiority complexBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

A controversial New York Times article describes several popular white intellectuals as marginalized “renegades.” What is the Intelectual Dark Web? It is a politically diverse movement, but mainly it is about right-wingers who don't like postmodernism. Centuries of dominant white male rule are coming to an end, and they don't like it. Members of the intellectual dark web want to be at the center of intellectual debate. But the center has shifted. To understand the unhappiness of...

“There is no such thing as public money, only taxpayer money.” — Margaret Thatcher, 1983 SplinterThe Dangerous Myth of 'Taxpayer Money' Raúl Carrillo & Jesse Myerson

The environment is degrading, an aging population needs care, and wages are stagnant. And that was before COVID-19. A job guarantee could address it all. “Is there a limit to how much we can care for each other?”That’s the radical question at the heart of economist Pavlina Tcherneva’s timely new book, ”The Case for a Job Guarantee,” due to be published this month.... HuffPostMillions Are Unemployed. Crises Abound. Is It Time To Guarantee Public Service Jobs? Alexander C. Kaufman...

Donald Trump renews racist attacks on Ilhan Omar Trump tells supporters the Muslim-American congresswoman wants to make 'our country' like the place 'from where she came' Middle East Eye 'Our country': Donald Trump renews racist attacks on Ilhan Omar Ali Harb See also  Sputnik International Peeved Pompeo Calls UN Human Rights Council ‘Haven for Dictators’ Over Report on Systemic RacismAlsoUS NewsU.N. Sets up Inquiry Into Racism After George Floyd DeathReuters, Wire Service Content...

US poodle? Sputnik InternationalBank of England Set to Decide Who Venezuela’s President is. How Did It Come to This?

Conflict of India with China is not in the interest of either India or China. M. K. Bhadrakumar advocates for Prime Minister Modi negotiating a peaceful solution but that is easier said than done. Powerful forces in India oppose compromise that would "give ground," and China is very clear on what its red line is.India PunchlineModi only can reach a border settlement with China M. K. Bhadrakumar | retired diplomat with the Indian Foreign ServiceSee alsoRTIndian minister suggests China's...