Mike Norman Economics

A Nation investigation illustrates the moral hazards surrounding the Gates Foundation’s $50 billion charitable enterprise. A good article on billionaire philanthropy. The wealthy can avoid paying taxes by giving away some of their wealth, but then invest this money into companies that greatly increase their wealth.Pharmaceutical companies looking for new markets in the third world will promote their drugs under the guise of philanthropy, when there maybe better solutions to public health...

You all know my attitude towards Michael Hudson as one the brightest economic minds of our time. Here is a quote from one of his latest interviews, as always, loaded with insights and food for thought.... Reminiscence of the FutureQuoting Michael Hudson.Andrei Martyanov

“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