Mike Norman Economics

As part of my recent European speaking engagements, I went to Rome on February 5, 2020 to speak at the Italian Senate on Modern Monetary Theory (MMT) and the dysfunctional state of the European Union. The next day I had long discussions with one of my co-authors, Thomas Fazi, who I wrote – Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World (Pluto Books, September 2017) with. We have been working on the sequel to that book for some time, and, in the...

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Damien Riehl and Noah Rubin generated and saved every possible melody to a hard drive, then turned it back around to the commons. ViceMusicians Algorithmically Generate Every Possible Melody, Release Them to Public Domain Samantha Cole

Over the next 20 years, scientists estimate about 70 to 90% of all coral reefs will disappear primarily as a result of warming ocean waters, ocean acidity, and pollution. Expand that out to 2100 and it’s “looking quite grim,” says Renee Setter, a marine scientist at the University of Hawaii in Manoa. By 2100 there will be nearly zero suitable coral habitats remaining, eliminating nearly all living coral reef habitats. Forbes  Nearly All Coral Reefs Will Disappear Over The Next 20 Years,...

The deniers like to point out where some scientists (not usually climatologists) and commentators made inaccurate predictions about climate change, but on the whole climatologists got it right.Climate change doubters have a favorite target: climate models. They claim that computer simulations conducted decades ago didn’t accurately predict current warming, so the public should be wary of the predictive power of newer models. Now, the most sweeping evaluation of these older models—some half...

Cutting through the BS surrounding Chinese government's response to the coronavirus.But the origin of the virus is yet unestablished. This is a limitation on prevention.East Asia ForumHas the internet helped China contain the coronavirus?Mu Li | Professor of International Public Health at the Sydney School of Public Health, The University of Sydney

There are more issues with David Ricardo's theory of trade than Miles Corak observes, but it highlights an important one. Worth a read. To summarize, Ricardo built a toy model that is useful for thinking a simplified level but it is too simplistic to useful as a model for the actual practice of political economy. Miles Corak points out that failure of trade specialists, not to mention economists that don't specialize in trade, can be traced to their being overly influenced by...

Until Nevada, all the presidential candidates except for Bernie Sanders were playing for a brokered convention. The party’s candidates seemed likely to be chosen by the Donor Class, the One Percent and its proxies, not the voting class (the 99 Percent). If, as Mayor Bloomberg has assumed, the DNC will sell the presidency to the highest bidder, this poses the great question: Can the myth that the Democrats represent the working/middle class survive? Or, will the Donor Class trump the voting...

Last Saturday, I held an MMT Masterclass or Teach-In in London. It was an experimental session because I wanted to see what level of difficulty people would find useful as we work on developing the pedagogy and materials for MMTed, which is intending to provide free teaching resources for those interested to learning Modern Monetary Theory (MMT) from first principles. Given the time constraints, I didn’t quite finish Module 1. So I thought I would provide the slides here with a written...

An important economic indicator just flipped negative. Trade and invest using the principles and understandings of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/