Mike Norman Economics

Marxian Michael Roberts, financial economist working in the City of London (recalls Michael Hudson, Marxian Wall Street economist) criticizes MMT as presented in Stephanie Kelton's The Deficit Myth. As such, it is a criticism of a particular (American) popular presentation of MMT rather than MMT as an economic theory, so it more a criticism of the presentation than MMT as presented in academic and professional literature. Roberts has critiqued MMT as a theory previously at his blog. To his...

Chinese foreign ministry spokeswoman Hua Chunying said: “positive consensus” on resolving the latest border issue was achieved following “effective communication” through diplomatic and military channels. New Delhi said the two countries had agreed to “peacefully resolve” the border flare-up after a high-level meeting between army commanders. India’s Prime Minister Narendra Modi and Chinese leader Xi Jinping had sought to ease the tensions at summits over the past two years when they agreed...

Let these few remarks be suitably extended and generalized. Marx is clearly correct in the Grundrisse, and oddly, perversely, the obscurantist philosophical jargon in which he expresses his musings captures well the combination of subjective and objective transformations – psychological and institutional – through which goods become commodities. Exchange value as such emerges, and finally capital per se, self-expanding value, comes to dominate the senses, the consciousness, the...

A popular sports blogger is daytrading the market with his followers.

Guccifer 2.0 turns four years old today and the great diversion he took part in becomes clearer by the day, writes Ray McGovern Fictitious character? Counterpunch How an Internet ‘Persona’ Helped Birth Russiagate Ray McGovern, co-founder of Veteran Intelligence Professionals for Sanity, and retired 27-year career CIA whose tasks included preparing and briefing The President’s Daily Brief and leading the Soviet Foreign Policy BranchSee also But the warnings to the FBI also undercut the...

“Germany as you know is...delinquent in their payments to NATO,” Trump told reporters at the White House on Monday, arguing that Berlin owes “billions” to the alliance. “Why should we be doing what we’re doing if they don’t pay?” RTTrump CONFIRMS pullout of US troops from Germany, until Berlin pays ‘delinquent' NATO bills

Variety of opinions on meaning.Thoughts On EconomicsSome Positions Some Take On Sraffa's BookRobert Vienneau

For nearly two centuries, Cassandras in the United States have warned that lording over the weak in faraway lands would serve as a rehearsal for doing the same at home. If we take every distant challenge as a threat, and respond with bristling shows of force, we condition ourselves to react the same way when our own people challenge official power. If we care little about “collateral damage” that results from our operations abroad, it’s logical not to care much about it at home either....

Yet almost all white Americans — not just hateful bigots on the right, but liberals, lefties, wishy-washy social democrats — tacitly engage in practices that reinforce that segregation. Bourgeois liberals apologize for the practice, we are not unaware, but once we have kids, we insist they grow up in “nice” neighborhoods with “good” schools, knowing and quietly exploiting correlations between both race and affluence and our scare-quoted notions of quality. One way people try to address this...

Matt Reed looks at Want Anti-Racist Policy to Work on Today? Adequately and Equitably Fund Community Colleges, by Nikki Edgecombe, Kate Shaw and Jessica Brathwaite, and The Deficit Myth, by Stephanie Kelton. He likes what he sees. I’m about halfway through the book [Deficit Myth] now , and I already consider it one of the most important books of the last decade. It’s extraordinary. Inside Higher EdA Productive Mashup Matt Reed