Mike Norman Economics

Chinese officials say that a coronavirus vaccine could be ready for clinical trials and emergency situations next month according to press reports. Chinese coronavirus vaccine could be ready for trials next month

Transcript of an interview about Thomas Piketty's latest book,  Capital and Ideology.Fast CompanyThomas Piketty explains why the world is ripe for ‘participatory socialism’ Marcus Baram interviews Thomas Piketty

A little philosophy (value theory) today. Personally, I think it would be madness to stick a monetary value on people’s lives and base our policy choices on whether the dollars on one side of the ledger outweigh those on the other. I wrote a book about that a while ago. The considerations that lead us to think primarily in public health terms at a time like this apply just as well to other issues, from food safety to climate change. The economists who crank out monetary values of life...

According to this article the UK government strategy for dealing with the Coronavirus is not entirely clear, but it seems that the strategy is to allow the virus to spread slowly through the population so it can be handled more easily and not overload the hospitals. Jeremy Rossman, a virologist, believes this strategy is likely to be a disaster.Achieving herd immunity would require well over 47 million people to be infected in the UK. Current estimates are that COVID-19 has a 2.3%...

According to this article, subsidies to the fossil fuel industries provided the cheap energy which grew our economy so well for over a hundred years. They now say that fossil fuel companies no longer need the subsidies but renewables still do.Fact Sheet: Fossil Fuel Subsidies: A Closer Look at Tax Breaks and Societal CostsFact Sheet: Fossil Fuel Subsidies: A Closer Look at Tax Breaks and Societal Costs

It's not a very cheery article. I've been optimistic about renewables and fusion, but Craig Collins isn't. The latent fear that civilization is living on borrowed time has also spawned a counter-market of “happily ever after” optimists who desperately cling to their belief in endless progress.  Popular Pollyannas, like cognitive psychologist Steven Pinker, provide this anxious crowd with soothing assurances that the titanic ship of progress is unsinkable.  Pinker’s publications have made him...

Britain’s Government Wants People to Get Coronavirus. LOL — What The? The Tory strategy for dealing with Coronavirus is to let do as it will, and leave the survival of the fittest to sort things out. It fits in with their philosophy, I suppose, where the strong survive and the weakest perish. I know: it’s a big claim. “One of the most insane ideas in modern history?” He can’t be serious! You, my friend, can be the judge. You’ve heard, by now, of America’s bizarre, dismal lack of a...

Stocks rebounded from panic selling. Gold prices plunged. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

Excellent summary of monetary versus fiscal.  Bond Economics Yes, It's Not $1.5 Trillion Of Spending Brian Romanchuk

Looks like somebody may have gotten a clue that the Fed is buying all of the UST issuance and creating all out chaos in the market for USTs.... to add "Reserves to lend out!"....Maybe Mnuchin told them to hurry up with their "Reserves!" bullshit and get it done before April 15th so somebody else can buy a US Treasury for a change.....   advanced schedule due: The Desk intends to further bring forward remaining purchases for this monthly calendar and adjust terms of operations as needed to...