Mike Norman Economics

Kalecki creeps into the mainstream. First it was Minsky and now Kalecki. Can Marx be far behind? I have always had pleasant interactions with David Andolfatto and he has been open to argument about MMT. He is a careful thinker and wants to be convinced, which is, of course, a good trait. While I think Kalecki's political reasons for the chronic lack of full employment in capital and the recurrent economic downturns that are quite convincing, David Andolfatto is skeptical, since as...

After the crisis of 2007-8, capitalism has entered among some parts of the public opinion into an ideological crisis. (I have written elsewhere why I think that this is not a general crisis of capitalism but a limited response to the decline of western economic and political power.) However, the question of durability or of non-permanency of capitalism has, unlike in the years after the fall of communism, reentered the public discourse. In many ways, in the West, the situation is returning...

Thwaites glacier is known as Doomsday: if it collapses, sea surge would submerge major cities across globe A massive hole has been discovered in the Antarctic’s so-called doomsday glacier suggesting it may be melting even faster than scientists have long feared. The massive Thwaites ridge would send sea levels surging by up to two feet if it dissolved completely – enough to submerge major coastal cities across the globe. The Independent  Climate crisis: Massive hole opens up...

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Has socialism's time come? Capitalists freak out at the prospect of a Bernie administration. Interestingly, what this shows is that an economic system is a policy variable in a social system.Mint Press NewsMedia, Democratic Establishment Panics as Sanders Predicted to Sweep All 50 States Alan Macleod

I have been reporting for months that the indicator we should all be monitoring is Real Gross Private Domestic Investment.... Forbes — Pragmatic EconomicsIs Falling Investment Spending The Last Nail In The Coffin? John T. Harvey | Professor of Economics, Texas Christian University

This is where you end up if you are Liberal Art trained to only think in figurative language...  textbook reification error 101.. she LITERALLY thinks people are expected to pick themselves up by pulling on their bootstraps...This is like the MMT people saying "does the football game run out of points for the scoreboard?".. its the cognitive equivalent ... doesnt work...So she is manifestly not qualified to work in this area and will then just go to "myth!" or some "neo-liberal conspiracy!"...

Factoid.Armstrong EconomicsQuebec Issued the First Paper Money in the New World Martin Armstrong

An economy needs government-financed investment, but DARPA is the way to do it?Project SyndicateEurope Needs a DARPA Dalia Marin | Chair of International Economics at the University of Munich and a research fellow at the Centre for Economic Policy Research.

Infographiceconintersect50 Cognitive Biases In The Modern World