Mike Norman Economics

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

Summary of their work.Marginal RevolutionThe Nobel Prize in Economic Science Goes to Banerjee, Duflo, and KremerAlex Tabarrok | Bartley J. Madden Chair in Economics at the Mercatus Center and Professor of Economics at George Mason University, and a research fellow with the Mercatus Center

In Part 1 I discussed the third annual MMT conference that was recently held at Stony Brook, and you can find the program as well as videos of the conference here: (https://www.mmtconference.org/). In this Part 2 I discuss a special issue of real-world economics review devoted to MMT (http://www.paecon.net/PAEReview/issue89/whole89.pdf). As usual, my report stretched out to become too long for just 2 blogs so there will be a Part 3, coming later this week. And who knows, maybe I’ll need a...