Mike Norman Economics

I was told that viruses were not quite living things, that were only partly alive. This video clears up the mystery. [embedded content]

This is a direct communication from our staff in China. This is what I mean when I say we have boots on the ground around the world. We do not need to rely on newspapers or TV who love to spin these events. Our direct sources are confirming that life is returning to normal in China. This is not coming from any propaganda put out by the government or other accusations people love to make. I have stated plenty of times, I prefer facts – not speculation. I believe this will peak out also by...

Supporting industries is necessary to mitigate the economic impact of the pandemic. But using the coronavirus as an excuse, Boeing and other companies are trying to get taxpayers to foot the bill for their managerial errors. It is not too late to put a limit on corporate subsidies.... ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of BusinessThe Covid-19 Bailout That Big Business Is Lobbying for Could Make America UnrecognizableMatt Stoller

There is now a great deal of discussion of modern monetary theory going on, precisely because it appears that the UK government (and others around the world) are now behaving in the way that it suggests is, and has always been, possible. What MMT says, as far as I am concerned, is as follows.... Richard Murphy has a slightly different understanding of MMT than the MMT economists, but he is essentially correct. The glaring difference is his position on the non-necessity of a job guarantee....

In this post we discuss debt in the current context, and consider where the very high levels of debt will take us. And as importantly, who wins and who loses. Transcript is available for download.... Digital Financial Analytics BlogDebt And Power – With Michael Hudson Martin North

Open letter signed by many economists.Critical Macro FinanceDeveloping and emerging countries need capital controls to prevent financial catastrophe Posted by Jo Mitchell

Tax rebates, tax cuts and business bailouts will not solve this crisis. Here’s what’s needed. NETWhat the Government Needs to Do Next to Tackle the Crisis James K. Galbraith | Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at the Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin

One of Keynes’s central tenets — in clear contradistinction to the beliefs of mainstream economists — is that there is no strong automatic tendency for economies to move toward full employment levels in monetary economies. Money doesn’t matter in mainstream macroeconomic models. That’s true. But in the real world in which we happen to live, money does certainly matter. Money is not neutral and money matters in both the short run and the long run.... "New Keynesianism" isn't Keynesian. It...

This post continues my thinking and analysis of the issues relating to the design of a fiscal intervention by the Australian government to ameliorate the damaging consequences of the coronavirus dislocation. Today, I delve a little bit back in history to provide some perspective on the current fiscal considerations. Further, I consider some of the problems already emerging in the policy response. And finally, I consider the lessons of history provide an important guide to the sort of...

Nathan Tankus is a go-to guy on the institutional side of MMT. Following Scott Fullwiler, I also highly recommended subscribing to his new blog if you are into the nitty gritty and don't want to miss anything since I will only be linking it selectively. Nathan offers a free and a premium service. Like MMT legal scholar Rohan Grey, Nathan is an up-and-comer and is already becoming a star. The MMT bench is broadening and deepening. Please support Nathan if you are interested and able. Here is...