Mike Norman Economics

“Let us not forget that economics is a moral science,” Emmanuel Macron told the Financial Times in a recent interview. This is one of the central thoughts animating the work of Amartya Sen, a Nobel prize winner in the dismal science but also a renowned political philosopher. Kathimerini contacted the great Indian thinker at his home in Boston and asked him about that quote from the French president and about whether, in the age of Covid-19, it is finally time for economics to widen its view...

Warren is amazing in his ability to cut to the quick in a sentence or two.Tax Research UKWhy MMT? A discussion with Warren MoslerRichard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum

The stock market recovery continues amid record fiscal support. Invest and trade using the concepts and understandings of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ The US economy post 2009 stimulus. Chartbook. http://www.pitbulleconomics.com/stimulus.pdf

China’s experience may usher in a paradigm shift from “democracy versus autocracy” to “good governance versus bad governance.” A positive article about the Chinese political system. The ancient rulers felt the need for good governance is they were to retain their positions, so they rule for the people. The disasterous communist experiment has faded and China returned to its traditional system of governance but with some democratic elements. In its meritocracy, where only the best and most...

After C-19 the right will try to bring in more austerity, says John Weeks, which isn't necessary, and will harm the economy. We need to fight this, he says.Even if the economy quickly returns to 2.5% annual growth, I calculate that public debt will rise to a peak of around 150% of GDP. This is around 50% more debt than the OBR expects, which seems to assume a return to near 2% growth in 2021 without any further recovery spending beyond the initial £70 billion – not tenable in my view. No...

From an unnecessary trade war to an increasingly desperate coronavirus war, two angry countries are trapped in a blame game with no easy way out. Now more than ever, both sides need to contemplate the economic and geopolitical consequences of a full rupture. Steve Bannon is getting his way.Project Syndicate The End of the US-China Relationship Stephen S. Roach, a faculty member at Yale University and former Chairman of Morgan Stanley Asia

Welcome to DiEM-TV’s ANOTHER NOW. The program that owes its existence to a mindless virus that placed capitalism in suspended animation, something not even WW2 managed to do. The one-hour discussion every Monday where, together with a weird and wonderful guest, we rant and rave with one ambition in our souls: To prevent a return to normality once the pandemic passes. This week I have the honour and the privilege to be joined by Stephanie Kelton – an academic economist who felt the need to...

See especially,  "7. Monetary Financing?"Monetary policy and the Bank of England’s balance sheet  Speech given by Gertjan Vlieghe, External Member of the Monetary Policy Committee Bank of England 23 April 2020

Things are a little odd when a Minister for Finance & Public Expenditure and Reform of a nation (Ireland) informs the press that if his government isn’t cautious in its fiscal response to the largest medical and economic crisis in a century then the “bond vigilantes” will turn on them. And this is in the context of governments around the world issuing long-term debt at negative interest rates and the relevant central bank is buying billions of government bonds with its currency-issuing...

Moderate Rebels Part 2 Super Imperialism, April 2020TRANSCRIPT – HOW THE US MAKES COUNTRIES PAY FOR ITS WARS: ECONOMICS OF AMERICAN IMPERIALISM WITH MICHAEL HUDSON | MODERATE REBELS, 24 APRIL 2020 Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismThe Hard Fist of American Imperialism Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the...