Mike Norman Economics

I don’t think anyone was surprised by this year’s “Nobel” prize in economics, which went to three American-based specialists in the design of on-the-ground experiments in low income countries, Abhijit Banerjee, Esther Duflo and Michael Kremer. I think the award has merit, but it is important to keep in mind the severe limitations of the work being honored.... On balance, I think it’s fine that this prize honors experimentalism, but we shouldn’t lose sight of the larger picture. Using...

+8% YoY who else is getting that?    Noooooooobody...#banksinthedriversseat Basel III common equity Tier 1 capital of $188 billion and ratio of 12.3% Firm supplementary leverage ratio of 6.3% $JPM reports net income of $9.1B and EPS of $2.68 for 3Q19 on record revenue of $30.1B with ROTCE of 18% — J.P. Morgan (@jpmorgan) October 15, 2019

98% agree...We need a balanced budget amendment to require we cannot spend more than its income. #commonsense There must be a balance between the projected receipts and the expenditures of the government. @RandPaul Keep fighting. #penniesplan— Josh Barnett for Congress (@BarnettforAZ) October 11, 2019

Depending on how you look at it.Greg Mankiw's BlogSad News from China N. Gregory Mankiw | Robert M. Beren Professor of Economics at Harvard University

MMT. The paradigm shift appears to be underway.ReutersRPT-In planning for next U.S. recession, economists say, don't fret about debtHoward Schneider

Novel proposal.Space ReviewModern monetary theory and lunar developmentVidvuds Beldavs

Yesterday I put up a critical post by Rod Dreher. Today, he has posted a counterview he received from former Hong Kong native whose parents live there.The American ConservativeA Different View From Hong Kong Rod DreherSee also Terrorism?Zero HedgeHong Kong Police Targeted With Explosive DeviceTyler Durden

I haven't read it yet, and will look at it tomorrow morning, but it looks interesting, so I thought I would put it out now.PDF On 28th April 2019, the Financial times published an article by Gavyn Davies ‘What you need to know about modern monetary theory’. Phil Armstrong,  who is currently studying for a PhD at Southampton Solent University, had a response published in the letters section in the FT, the link is here (subscription required). Phil has, however, written a fuller respons to...

Knowledge, information, understanding and MENTAL GAME!

The breakdown costs of the iPhone 11 Pro Max.Apple charges $1099 for an iPhone 11 Pro Max, but the components for this high-end smartphone with assembly cost less than half the selling price. Cult of Mac Ed Hardy - iPhone 11 Pro Max production cost is shockingly low