Mike Norman Economics

The British Labour Party would be good for small businesses. Should the UK’s small businesses be terrified of a Labour government? Maybe not so much: if they look through the increasing hysteria around Jeremy Corbyn’s supposedly hard left agenda, entrepreneurs may be surprised by what they find. Forbes  David Prosser - Why Small Businesses Should Not Fear Jeremy Corbyn

I've posted this chart before here... if these moron people are getting ready to reverse this trend from the recent multi-year reduction in CB assets as % GDP over to an increase in CB assets as a % of GDP then all I can say is ....  you better buckle up...

Why economists are so often wrong Friendship, kinship, loyalty, family, community, commitment, spirituality, passion for art, passion for life, etc, can't be put into the economist's equations. To them, we are just maximising utilty machines - which is how most economists relate to the world, so they think we are all like it. What is called “economics” is really psychology on steroids. It starts with a model of human nature and extrapolates an entire scenario for how the world works from...

Some people say economics should only about science, and that other economic theories lack scientific credence or vigour, but people are not machines, and so we need a humane, more people friendly, economic system. Hungry people would get fed if we had a Job Guarantee.  MEMPHIS, Tenn. — Army veteran Eugene Milligan is 75 years old and blind. He uses a wheelchair since losing half his right leg to diabetes and gets dialysis for kidney failure. And he has struggled to get enough to eat....

Disruptive in the short term

[embedded content] It is not too good to be true.’ — Andrew Yang, 2020 election candidate, wants to give you and every other American adult $1,000 a month. Here’s how that would work.

Alaska’s experience suggests it can It seems only middle income groups benefited. I might speculate and say this is because high income groups already have sufficient money, and low income groups didn't benefit because the Basic Income wasn't enough to mitigate the effects of poverty. The article says childhood obesity greatly increased after 1980, when Reagan implemented neoliberalism, after that middle income groups started to suffer, it seems.  The article says how the...

Martin Shields and Nick Diable are accused of tax fraud in ‘cum-ex’ scandal worth €60bn that exposes City’s pursuit of profit Martin Shields regrets it now, he says the money could have been used for roads and school, but everyone was doing it, he adds.  Some European countries are glad to get shot of Britain.  Philip Oltermann - ‘The men who plundered Europe’: bankers on trial for defrauding €447m They have been called “the men who plundered Europe”: a group of cowboy traders,...

Is being at work like being in a type of dictatorship? Some say if you don't like it you're free to move on, but what if nearly all bosses are the same, so the disruption and risk is pointless.I worked at my old company for years and I had bought a house nearby. As I had been there so long I was on top whack, especially as wage rises were much better in the old days. My job was very specialised and so finding a job nearby wouldn't have been easy. If I lost my job, I might of had to travel...

Some tough talk from Bernie! Even as Sen. Bernie Sanders’ progressive platform polls well among Democratic voters, consistently ranking second after Joe Biden, and even as he draws large crowds at rallies and lands 1 million donors (according to the Sanders campaign), his opponents respond with the same refrain: H0.ow is he going to pay for his plans like Medicare for All and the Green New Deal? On Tuesday, Sanders answered, with “a tax on extreme wealth,” which CNN called “a hefty tax on...