Mike Norman Economics

BEIJING: China has suspended debt repayment for 77 developing countries as part of its efforts to help underprivileged nations in the fight against Covid-19. China suspends debt repayment for 77 developing countries

Barr’s position is that 150 federal officers had been injured and the park had to be cleared. He also insisted that the level of force was warranted. I again disagree. It move escalated the tension. We have seen the same decisions by District police and state police across the country. Indeed, a federal judge today issued an order to restrict state and local police in Oregon in the use of such means. The operative term here is "escalation."In the course of my duties as a US naval reserve...

Pompeo said on Saturday, the D-Day anniversary, that China’s actions regarding the city are reminiscent of the Third Reich’s occupation of Europe during WW2. Hu Xijin replied on Twitter: “You are inciting radical hostility and ripping the world apart. You aren't like a top diplomat, instead, you talk like Goebbels of Nazi Germany. I’m worried that the world peace will eventually be destroyed by extreme politicians like you.” "Fatso" (Chinese nickname for Mike Pompeo) started this one....

Argentina’s 1976–1983 military dictatorship relied on widespread torture and disappearances to eradicate all political opponents, real or imagined. Seeking to conceal the junta regime’s one-sided terror, the Right still refers to those years as a “dirty war.” But the only accurate way to describe the dictatorship is as a period of “state terrorism.”... We can only understand the term “dirty war” within the greater context of the Cold War, and the American fight against communism more...

Poll results. Eight out of 10 voters, an overwhelming majority, say things are out of control in the country, according to a NBC News/Wall Street Journal poll released Sunday. This is an environment in which change can happen. PoliticoPoll: 80 percent of Americans think the country is out of control Oma Seddiq

“India is now close to $2.5-3 trillion and is expected to go to $5 trillion. Whether it happens in 2024 or it takes a few more years doesn’t matter. It is very clear that India is the number 3 market in the world,” Sanjeev Sharma, managing director, ABBNSE 5.09 % India, tells Nehal Chaliawala and Satish John.... Opinion-Economic Times (India)India is the number 3 market in the world: Sanjeev Sharma, managing director, ABB IndiaNehal Chaliawala and Satish John

Deconstructing the "cause" of this crisis and any large-scale crisis. There are inevitably a constellation of factors loosely related as by "family resemblance" (Wittgenstein). The "cause" is the configuration of the system relative to prevailing conditions, here under late-stage capitalism and globalization as the world transitions from the industrial model to the digital model. Call it "neoliberalism" if you like. The Philosopher's StoneLESSONS MARCUSE TAUGHT MERobert Paul Wolff

COVID-19 has proved so infectious and has caused so much financial dislocation for millions of Americans, that for the first time in the history of the United States, it makes economic sense for a limited form of a basic guaranteed income (BGI) to be initiated. A BGI is different from the movement for a universal basic income (UBI) in that a BGI is not universal, but is specifically targeted to a certain segment of a nation’s economy that due to circumstances beyond their control have been...

Alan Kirman quote.I have said this before but it is spot on here. Heterodox economists that challenge the existing "normal paradigm" (Thomas Kuhn) in which research and development is pursued are barking up the wrong tree, I believe. Unless they come up with a formal model that replaces the current "standard model," they will not be heeded.I don't see that as possible for the simple reason that a representative model of a macro social system would be intractable without sophisticated AI not...

With the formatting of Recessions: Volume I finally under control, I am now turning to the layout of my next book. As I have discussed before, I will write at least one report in between Volume I and Volume II. With the Mitchell/Wray/Watts textbook published, I feel I am in a better position to write an explicit MMT primer. (Understanding Government Finance is the closest I have to a MMT primer, but it has a narrower scope.) Bond Economics MMT And The Coming ExpansionBrian Romanchuk