Mike Norman Economics

Mnuchin says the U.S. government must cut spending and reduce the deficit. This will absolutely guarantee a recession.It's amazing that these views still prevail. Complete and total ignorance.

somebody said it!Treasury Sec. Mnuchin says climate activist Greta Thunberg is in no position to give economic advice until she’s gone to college and come out with an economics degree. https://t.co/gfJmRHQjvt— ABC News (@ABC) January 23, 2020

FAIR (The Nazis were especially great that this.)Netflix, Iran and the Documentary as Geopolitical Weapon Brian Meir Commentary (The soft coup against POTUS by the intel services) The FBI STory Eli LakeThe Nation (The oligarch's oligarch)Mikhail Khodorkovsky: the Man, the Myth, the Movie Lucy KomisarCaitlin Johnstone — Rogue JournalistThe Empire’s War On Oppositional Journalism Continues To EscalateCaitlin Johnstone Elijah J. MagnierImmediate US withdrawal due to its violation of the...

One of the dominant themes of the last century was this general assumption that human activities can be studied through an ever increasingly rational lens. That may be, but economists then went too far: they projected rationality into the subject of study. Instead of using the tools of reason to tease out regularities of interest, they made the subject matter itself entirely rational. So the regularities they thought they saw were simply echoes, or mirrors, of their own thought...

In an interview with ProMarket ahead of his upcoming Stigler Center visit this week, UC Berkeley economist Emmanuel Saez discussed the impact of the 2017 Trump tax cuts, the disproportionate political power of the super-rich, and whether he agrees with Bernie Sanders that billionaires shouldn’t exist....ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of BusinessEmmanuel Saez: Saying Inequality Has Not Increased in the US “the Equivalent of Being a Climate...

This blog is based on the testimony I provided to the US House of Representatives. My written statement will be published in the Congressional Record (a version is also at the Levy Economics Institute: http://www.levyinstitute.org/publications/statement-of-senior-scholar-l-randall-wray-to-the-house-budget-committee. The full statement was co-authored with Yeva Nersisyan.I will argue that the Federal Government’s deficit and debt are not so scary as we are led to believe.Neither the deficit...

The Job Guarantee is the most natural implementation of the concept of having the central government act as a price setter. By making an open bid for labour at a fixed price, an effective minimum wage is created in the economy, and it will eliminate almost all involuntary unemployment. This discussion will not cover the tricky question of implementation details, but will instead discuss how this fits in with the Monetary Monopoly model.... Bond EconomicsJob Guarantee as a Policy...

Tax the rich! That has become a misguided progressive Left mantra. The intention is to maintain public services including health, education and income support which are core issues for progressives. But then the neoliberal indoctrination that has infested this group intervenes. They seem to think the government needs the money of those with lots of it before it can provide essential and progressive public services and fight the climate emergency. They support political parties that set as...

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