Mike Norman Economics

Why do most economists do anything? Because most economists do it. It's a club. The fundamental assumption of conventional economics in a capitalist society is that prices equal value, that markets are the most effective and efficient means of creating and distributing economic value through price discovery, and that monetary incentives are necessary for innovation through competition. Using this framework, most economy believe that the natural operation and spontaneous ordering of...

You can wash your mask, in fact, it's best to because there isn't enough masks to go around. Dr Jo Barnes recommends water and bleach.The virus may be airborne in aerosol droplets for at least for an hour or so. I've read elsewhere that scientists are not certain about this yet.Wash fridge and door handles, she says, and soap is better than sanitizer for killing the virus.She says that a paper medical mask is better than a cloth one because it stays drier.Dr Jo Barnes, an epidemiologist and...

The uncertainty about the medical containment of the pandemic remains high, and forecasting at this point is largely an exercise in wild guesses. However, it seems likely that we will be in a environment of high unemployment even after a vaccine tames the virus. Modern Monetary Theory (MMT) will be highly relevant in that environment.... Must-read. Very comprehensive analysis of options and likely outcomes.Bond Economics Modern Monetary Theory After The Crisis (Part II) Brian Romanchuk

On April 3, 2020, the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – March 2020 – which shows a deteriorating labour market situation due to the coronavirus crisis. However, as I explain below, the data released was drawn from samples that went up to March 12 (establishment survey) and March 14 (household survey), and so doesn’t fully capture the extent of the unfolding catastrophe. More recent data released by the US Department...

From now on, my online writing will be published on Substack. This is my full-time job now. Announcement to Readers — I'm Moving Matt Taibbi

LONDON – British Prime Minister Boris Johnson’s Covid-19 condition has become worse, and he was taken to the hospital, according to an official representative of the head of the British government. But RIA Novosti reports that they are preparing to connect Johnson to mechanical ventilation – all a very serious situation. According to RIA Novosti, Johnson was hospitalized urgently, he will undergo mechanical ventilation. MAJOR: Boris Johnson’s Covid-19 Condition Deteriorates – will undergo...

Jamie Ralph, a Welsh paramedic, tweeted this earlier. 708 DEAD in the last 24 hours.   The 13 year old boy was buried with NO immediate family there.  A 5 year old has DIED.  NHS staff are DYING.  I’m scared, my family are scared, my colleagues are scared. YOU can help stop this by STAYING the F*CK at HOME!  This in NOT a bank holiday! https://t.co/LhbIOePwGl

And they hope to keep it in place forever once it is up and running.The Spanish government is working to roll out a universal basic income as soon as possible, as part of a battery of actions aimed at countering the impact of the coronavirus pandemic, according to Economy Minister Nadia Calvino. Spanish Government Aims to Roll Out Basic Income ‘Soon’

I'd have to think copper is going to be part of any post virus corrective adjustments...  maybe say goodbye to all the brushed stainless steel and chrome tactile fixtures and hello to copper...the third in line of the so-called "noble metals"... column 11 of the PTE... atomic number 29... Wow. This article is from nearly five years ago! Using copper to prevent the spread of respiratory viruses https://t.co/vpzgSyVJHu — Alice Evans (@AliceEvansGruff) April 1, 2020

Hmmmmmmmm.....What’s going on with pneumonia deaths? pic.twitter.com/QQKynUyWum— robert michaels (@rmsgeek) April 3, 2020