Mike Norman Economics

Argentina's peso depreciated significantly after the primary elections last month, with the clear victory of the opposition. The crisis has come full circle now with the re-imposition of capital controls, and with the default on domestic bonds, the latter a puzzling and clearly unnecessary measure, since it was in domestic currency (Standard & Poor's says it's a selective default, whatever that means, and Fitch called it a restricted default). So here a few things that might be useful...

A version of what Lawrence Summers and Anna Stansbury (2019) recently pointed to as “original” Keynesianism can be found in the work of Michał Kalecki and Hyman Minsky, Their work offers analysis of the determination of investment spending and effective demand which avoids the deficiencies found in the New Keynesian economics in which Summers and Stansbury find shortcomings. In the paragraphs below, I describe how their insights and those of other economists sharing their approach provide...

Germany is proposing some more smokes and mirrors so that it can maintain its position as the exemplar of fiscal responsibility by obeying its ‘Debt brake’ yet inject significant deficit spending into its recessed economy, which is starved of public infrastructure spending. They are proposing to set up new institutions which will be funded by government-guaranteed debt and spend billions into the economy while ensuring these transactions do not show up on the official fiscal books of the...

A simple demo of order and chaos (and order again) - Home made Pendulum Wave with 15 billiard balls [embedded content]

This guy is probably employing a Science methodology and is mistakenly blaming an entire  discipline for achieving  non-scientific (non-discriminatory) outcomes. He's making the typical mistake you see all the time here.Its not the discipline of Economics that is the problem its the Platonistic/Liberal Art methodology employed 99.9% of the time within that discipline that starts with the thesis first that leads to this type of insanity (ie "a disqualified mind" Rom 1:28) : Got a big laugh...

The ex Telegraph columnist, Peter Osborne, says a Corbyn led Labour Government would be good for for Britain. But if the Conservatives win and Johnson destroys Britain, the next British government could well be a hard left one, and Corbyn could go down in history as the man who saved Britain.A new false narrative centres on fears that a government led by the Labour leader poses a mortal threat to the British economy. The Middle East Eye Peter Osborne - Jeremy Corbyn can save the UK economy...

Mint Press NewsMore Americans Questioning Official 9/11 Story As New Evidence Contradicts Official Narrative Whitney Webb Russia ObserverPUTIN AND 911BYE BYE BOLTONPatrick Armstrong SouthfrontColor Revolution Comes To Hong Kong“Trump Save Us or We Will Destroy Our City”: Hong Kong Protesters The Vineyard of the SakerWe are all hostages of 9/11Pepe Escobar Real-World Economics Review BlogRigged: How globalization and the rules of the modern economy were structured to make the rich...

This western world  is not a healthy democracy. It’s all part of a kind of hell. Hungry people fighting for justice and Freedom - While privileged people fight not to pay their taxes, hide there money off shore - fighting to get more rich. My Dad told me Socialism is knowing your tax dollarsare helping people. knowing where your taxes go -You can see it in schoolsand hospitals in children’s happy faces. Healthy people. Safe Roads and bridges. and by now clean energy innovation -...

'Mindless growth': Robust scientific case for degrowth is stronger every day This is my kind of article. We can save energy by making things last longer, and then we cut the working week. Our standard of living will hardly change as most of the wealth from growth goes to the elite anyway. A job guarantee and the Basic Income is mentioned.  If we reduce working hours we can redistribute necessary labour without any loss of total jobs One way to do this is to stop allowing...