Mike Norman Economics

Along those lines, I have a modest proposal. Eliminate the economics Ph.D, period. Offer everyone three years of graduate economics education, and no more (with a clock reset allowed for pregnancy). Did Smith, Keynes, or Hayek have an economics Ph.D? This way, no one will assume you know what you are talking about, and the underlying message is that economics learning is lifelong. Adam Smith and Friedrich Hayek were philosophers, and Keynes was a mathematician. Karl Marx, who goes...

Title a play on words of the MMT platonistic thesis "the natural rate of interest is zero!".This is expanded upon in the whitepaper here: Government taxing and security sales drain (subtract) reserves from the banking system. When the government realizes a budget deficit, there is a net reserve add to the banking system.  That is, Government deficit spending results in net credits to member bank reserves accounts. If these net credits lead to excess reserve positions, overnight interest...

Zero HedgeLuongo: Will The Yemen War Be The End Of Saudi Arabia? Tom Luongo Sputnik InternationalAccepting Houthi Responsibility for Saudi Oil Attack Means Admitting Riyadh’s War in Yemen Failed Sputnik InternationalOverseas Investors Emerging as New Owners of India's Road Assets Sputnik InternationalChinese PM Notes 'Huge Prospects' for Cooperation With Russia After Talks With Putin Checkpoint AsiaRussian Navy to Be First to Field Hypersonic Cruise Missiles on Submarines H. I. Sutton,...

I give an explanation

This was not supposed to happen. Important article.Asia TimesHouthi rebels overturned the chessboard Pepe Escobar

Finally taking on economic rent, and financial rent in particular. This is not capitalism, which is about productive investment based on risk-taking, but rather rentier oligarchy based on expropriation through rent extraction. Rentiers are free riders on the systems. Martin Wolf uses his Financial Times bully pulpit to attack it before the parasites kill the host (ht Michael Hudson).Naked CapitalismThe Financial Times’ Martin Wolf Discovers that Rentier Capitalism and Financialization...

A few weeks ago the FT came out in favour of state planning and moving towards a worker-led economy. Then, a few weeks later, it backed a caretaker Corbyn government. Now this. The times they are a changin’ https://t.co/zh3oqclwEq

I've always doubted whether vaccines were dangerous, and felt that not getting vaccinated posed a far greater risk. [embedded content] The UK has lost its measles free status. Experts are worried and the government is considering making the MMR vaccine obligatory in view of recent breakouts in places like London.

While the world moralises over China's occupation, feudalism and abuse in Tibetan culture has been conveniently forgotten This was written in 2013, so I doubt if you would ever read anything like it today now the Guardian has been taken over by MI5, according to recent reports. The Guardian today regularly puts out anti-Chinese propaganda.When I was youger, I would regularly go to my local Buddhist centre to practice Buddhism. But its nihilism, along with being dispassionate, losing...

Britain's press is controlled by the same networks of people as run everything else. Is it really free? A really good article saying about how much of our media is controlled by oligarchs. If the truth were known, Corbyn would be well ahead in the polls. For instance, if people knew about what was happening in Yemen and how the Tory Party is complicit in that genocide, how many people would still vote for them?  MI5 and the CIA routinely influence and pay journalists to put out...