Mike Norman Economics

Tariffs are a form of taxation. Indeed, before the 1920s, tariffs (or customs duties) were typically the largest source of funding for the U.S. government. Of little interest for decades, tariffs are again becoming relevant, given the substantial increase in the rates charged on imports from China. U.S. businesses and consumers are shielded from the higher tariffs to the extent that Chinese firms lower the dollar prices they charge. U.S. import price data, however, indicate that prices on...

Steve Keen says do away with economists and a modern ecomomy will run perfectly well without them, but you couldn't do away with engineers or scientists. Spot on!It will come as no surprise that a recent poll indicated that economists are amongst the least trusted professionals. They've made blundering mistakes on everything from claiming financial crises can happen to not facing the most obvious recessions. But all that pales into insignificance when inept economists get involved in...

During my recent trip to Japan, where I made several presentations to various groups, including a large gathering in the Japanese Diet (Parliament), I received a lot of press interest, which is a good sign. I am slowly putting together the translated versions of some of the print media articles. Today, I provide a translation (with my annotations) of an interview I did with the centre-left newspaper – Asahi Shimbun – on November 6, 2019 in Tokyo. This is a daily newspaper and is one of the...

Fort Russ NewsRussian intelligence: Events in Bolivia is an attempt to destabilize Latin America Paul Antonopoulos India PunchlineBereft of soft power, India stands diminished in Hindu Kush and Central Asia M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service Intel TodayDouma Attack — Internal OPCW E-Mail Reveals Crucial Omissions Ludwig De Braeckeleer RT‘Window is closing’: US Senate makes last-ditch effort to ax Nord Stream 2 pipeline Sputnik InternationalEvolution of...

Another good one from Paul Mason. [embedded content]

This is simply hilarious!A trip to Ashfield in Nottinghamshire to meet controversial Conservative candidate Lee Anderson takes a bizarre turn when Michael Crick exposes a fake-news ruse – thanks to a switched-on microphone.Daily MailCaught in the act! How ‘hot mic’ exposed would-be MP’s fake news ruse

Research based on studies by Greenwich University has revealed public ownership of services such as broadband, buses, energy and NHS could save billions for the tax payer New polls suggest the Tories have a 19% lead. Labour is offering a really good deal, but many voters reject it, why? For one thing, it is the anti-Labour bias in most of the media, and also people have been told we can't afford it, although Labour's spending plans are only midway compared to the rest of Western...

An interesting and spiritual one for Sunday.Physics is getting weirder!I don't know much about the science in Galileo's time, but he said there was no light, colour, or taste, and that all of these experiences were created in the mind.  Electromagnetic waves leave the Sun, bounce off objects, and our brains create the images and colours we see.  If a tree fell down in a forest and there was no one around, would it make a noise? Our brains produce all these experiences, but what if it also...

The first part of the post is about Tunisia, and the second is specifically about MMT. MMT economist Fadhel Kaboub is originally from Tunisia and is familiar with the situation there. Rosa Luxemburg StiftungModern Monetary Theory: A Tool for the Global South?Fadil Aliriza, co-founder and editor-in-chief of the Tunisian news portal Meshkal, in conversation with Dr. Fadhel Kaboub, associate professor of economics at Denison University and president of The Global Institute for Sustainable...