Mike Norman Economics

I've put this out before, but I watched it again the other day and I thought it was even more pertinent than ever.This documentary by BBC from 2003 shows the neoconservative's mindset at the pinnacle of the war in Iraq and helps to understand the state of our world in 2018. Our times give the answers to many questions asked back in this film of 2003. People like Perle, Wolfowitz, Cheney, Rumsfeld, and John Bolton speak about their ambition and their willingness to topple the regimes in...

Good summary of MMT featuring the distinction between currency users and the issuer of the currency.  Short read.The ConversationBernie Sanders' economic adviser has a message for Australia we might just need Steven Hail | Lecturer in Economics, University of Adelaide

Ain't capitalism great?ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of BusinessAmericans Report Record Level of Trust in Banks and Big Corporations, But not in the US Government

So just a brief comment on the latest fiasco from ‘Mr Spreadsheet’ Kenneth Rogoff as he stares into the abyss of irrelevance and is trying to hand on like grim death to any shred of credibility. He has none. If he ever did, the spreadsheet scandal finished it. But he never did anyway.... Bill Mitchell – billy blogThe old guard trying to stay relevant and failingBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of...

Most public debate around Modern Monetary Theory (MMT) revolves around fiscal policy. This is not too surprising, as this is largely where political economy concerns crop up when discussing MMT. However, the emphasis on fiscal policy makes discussions of the MMT debates quite awkward. There is a large divide between the debate in modern economic theory, and the debate in popular discourse. If we look at economic theory, there are no credible challenges to the MMT story at present; at most,...

Pavlina Tcherneva recently participated in a hearing before a parliamentary group (La France insoumise) of France’s National Assembly on the subject of the Green New Deal and the job guarantee (the intro is in French; Tcherneva’s testimony is in English):Multiplier EffectTcherneva on the Green New Deal and Job Guarantee in France Michael Stevens

Trade and invest 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/

Trade and invest 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/

International Rescue CommitteeIRC President and CEO David Miliband's West Point Class of 1983 Distinguished Lecture: CONFLICT IS CHANGING – HUMANITARIANS AND THE MILITARY NEED TO CHANGE TOO”PNASHigher social class predicts increased unethical behavior ("noblesse oblige"?) Paul K. Piff, Daniel M. Stancato, Stéphane Côté, Rodolfo Mendoza-Denton, and Dacher Keltner PNAS March 13, 2012 The Atlantic ("capitalism")How McKinsey Destroyed the Middle Class Daniel Markovits | Guido Calabresi...

In a word, Economics is an Impossible Science because by its own definition the determining conditions of the economy are not economic: they are “exogenous.” Supposedly a science of things, it is by definition without substance, being rather a mode of behavior: the application of scarce means to alternative ends so as to achieve the greatest possible satisfaction—neither means, ends, nor satisfaction substantially specified. "Exogenous,” however, is the culture, all those meanings, values,...