Mike Norman Economics

It was only a matter of time before US President Donald Trump got the recognition he deserved for America’s military exploits these past two weeks. Yesterday, Trump received glowing praise from the official international ISIS newspaper, Al Naba, highlighting Washington’s assassination of Iranian IRGC’s General Qasem Soleimani on January 3rd. The loss of Soleimani in the war on terror was echoed by Rev Ibrahim Nseir, a pastor and leading Christian voice in the Middle East from the Arab...

The problem with economics as a discipline, and this generally includes all forms of economics including heterodox economics to some extent, is "economics." That is is to say, economists assume that economics is chiefly or exclusively about economic behavior when economic behavior is embedded in social and political behavior and includes the entire "human condition." The only "economist" that really grasped this in depth was Karl Marx, and he was a philosopher coming from a Hegelian...

Here we go with the "myth!" again... but interesting from Clint Ballinger none the less: It is logically not possible, before the tax-credit became a viable base-unit for currencies, to have a credit-system of monetary exchange without first having a unit-of-account to measure that credit in... This "unit" is a typical abstraction (is non-real) created by Science trained people all the time... in order to work with the real...Non science people (B.A. people) would probably not fully...

Nearly 20 years later, if you ask a U.S. general or president (any of them) what the goal is in Afghanistan, they’ll feed you a word salad so large it’ll keep you regular for months. Just think is they spent this money on the American people instead? With healthier, more highly educated Americans capitalism and entrepreneurs would flourish.'Crumbs, there must be a way us elites can get that money instead, hey, we will just start endless wars and scare the taxpayer into giving us their...

Reminiscence of the FutureI Use Krylov's Fables All The Time. (Friday's Rant). Andrei MartyanovAnti-WarChina Launches 3 Destroyers.. in a Single Week–For a Total of 10 in 2019 Xavier Vavasseur Defend Democracy PressSecret intelligence & ‘highly likelys’: How media created narrative around Tehran jet crash to blame Iran, Russia and Trump Nebojsa Malic Also at DDP (what one party aims as a warning to be heeded, others take as a threat to be countered)How the U.S. killing of a top...

Studies have determined that the Homo economicus personality is an extremely rare one. Instead, most humans are marked by a deep capacity for reciprocity, cooperation and selflessness.… TruthoutHow Economists Tricked Us Into Thinking Capitalism Works Robert R. RaymondSee also In India, the ‘development’ paradigm is premised on moving farmers out of agriculture and into the cities to work in construction, manufacturing or the service sector, despite these sectors not creating anything like...

China is poised to realize a dream that a few decades ago most experts would have dismissed as wishful thinking. For centuries, China dreamed of building a "moderately prosperous society" in all respects. And this year, under the leadership of the Communist Party of China, China will realize that dream despite having a population of more than 1.3 billion. Late leader Deng Xiaoping resurrected this ancient but never-realized goal when reform and opening-up were launched. Chinese leaders who...

I would simply add to what Ramanan says in this post that the US is functioning like all previous empires, for good and ill. The good is that empire reduces transaction costs in international trade and the imperial economy, so it is a benefit to belong to that system. On the other hand, it is the empire that formulates and enforces the rules, for the "benefit of the empire," which means in practice that the core comes first rather than the empire as whole being considered as an integrated...

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The implication here is "formal model." But formal models are not the only sort of models. Most models we use are conceptual and they are mostly sufficient to the task. For example, in the Tractatus, Wittgenstein showed how a descriptive statement is a model of a fact that allows for comparing the model to the fact observationally to determine it truth-value. He elaborated how the propositional calculus is used to to describe many fact in using the principles of descriptive logic to...