Mike Norman Economics

California-based pharmaceutical giant Gilead Sciences has announced that a five-day course of its antiviral drug Remdesivir — shown in tests to effectively fight COVID-19 — will cost $3,120 to Americans with health insurance and $2,340 to those on Medicaid. Yet research published in April calculated that the drug could be produced at a profit for as little as $0.93 per day. The study, led by Dr. Andrew Hill from the Department of Translational Medicine, University of Liverpool, U.K., and...

The economic shock caused by the coronavirus pandemic is often conceived of as a pivotal moment ushering in major shifts in political economies across the globe. The most profound shift taking place in China’s political economy is a move away from the export-led growth strategy adopted in the 1990s to a new economic model based on domestic consumption, indigenous technology development and urbanisation.... Eurasia ReviewCOVID-19 Accelerates China’s Political Economic Transformation –...

The discussion of the role in unemployment is a key theoretical divide between Modern Monetary Theory and mainstream approaches. Theoretical conclusions determine the suggested policy response of governments to unemployment. The structural changes to the labour market made by policymakers in the 1990s were based on following a theory.... One of the objections that conventional economists make to MMT is that it is "nothing new" and can be stated in terms of their models. One of the sharpest...

ADP reported a 2.5 mln job loss in May, but revised that to up 3 mln. These are crazy errors. 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

Final installment in the series.The Vineyard of the SakerBridging China’s past with humanity’s future – Part 3Straight Bat

Irrussianality Afghan Tales Paul Robinson | Professor, Graduate School of Public and International Affairs at the University of Ottawa Mint Press NewsAfghan Bounty Scandal Comes at Suspiciously Important Time for US Military Industrial ComplexPublic Outcry Follows Gilead Decision to Charge $3000 for COVID Drug that Costs Pennies to Produce Alan Macleod India PunchlineRussian bounty killing forces Trump’s hands on troop withdrawal from AfghanistanM. K. Bhadrakumar | retired diplomat...

Sign of success and competitiveness, or .…? The number of billionaires in the world is at a record high, and the U.S. is home to more than any other country. Fast CompanyThe U.S. is now home to nearly 800 billionaires, worth a combined $3.4 trillion Adele Peters

The “loss” of China in 1949 was perhaps the biggest blow to strike American hegemony in the post-World War II era, and it is felt increasingly to this day. During the past 70 years, Washington's strategy towards China has been to destabilise and fracture one of the world's oldest and largest nations. These imperialist policies have clearly failed to attain their objectives. Nevertheless US efforts to undermine Chinese power have been steadily growing over the past 30 years, in part spurred...

Scientists in Netherlands explore possible link between deficiency and Covid-19 deaths “My advice would be to take those vitamin K supplements. Even if it does not help against severe Covid-19, it is good for your blood vessels, bones and probably also for the lungs.” Janssen added: “We have [vitamin] K1 and K2. K1 is in spinach, broccoli, green vegetables, blueberries, all types of fruit and vegetables. K2 is better absorbed by the body. It is in Dutch cheese, I have to say, and...