Mike Norman Economics

At present, the Australian Parliament is debating whether the unemployment benefit (called Newstart) should be increased. The conservative government is refusing to budge claiming it prefers to create jobs and get people of benefits – arguing that it will generate 1.25 million jobs over the next 5 years. The Opposition Labor Party are attacking them for being mean but are just rehearsing the massive hypocrisy that has defined that party since it became a voice for the ‘neoliberal lite’...

An excellent documentary! [embedded content]

EvonomicsOptimizing for Human Well-Being Douglas Rushkoff | Professor of Media Theory and Digital Economics at CUNY Queens College, and host of the Team Human podcast and author of Team Human Oxfam Blogs — From Poverty to Power‘This Shit is Killing Me’: Dalit rights and Mumbai’s sewers Monica Moses PoliticoJudge dismisses DNC suit against Trump campaign, Russia over email hack Josh Gernstein Yahoo FinanceBond Bull Run Shows Modern Monetary Theory May Be New NormalJohn Ainger, Bloomberg...

Sets in motion many things.

Another really good one from Renegade.inc. It's like The Quickening, where they said people were about to realise that the West was a massive con. We are run by psychopaths, says Charlie Robinson.I never thought I would see anything like RussiaGate, where night after night all the politicians and the journalists within the MSM would be lying on our screens, and now they are doing the same thing to the British Labour Party saying it has a serious antisemitic problem.The Guardian had an...

What cutting edge economic anthropology and economic history shows is that prior to the dawn of the capitalist era it would have been nonsensical to refer to such a thing as an “economy” and no one ever did. The reason for this, quite simply, is that while economic reproduction is an existential facet of all existing human societies it had always been intermeshed with other social practices–culture, religion, ideology, politics, and so on–and indistinguishable from them. Only under...

Lars quotes Knut Wicksell and William ("Bill") Vickery.Lars P. Syll’s BlogMMT — the key insightsLars P. Syll | Professor, Malmo University

A shorter blog post today (Wednesday). On Monday (July 29, 2019), the British Social Metrics Commission published their – 2019 Report – which reveals (staggeringly) “that 4.5 million people are more than 50% below the poverty line, and 7 million people are living in persistent poverty” in Britain. So around 22 per cent of people in the UK are living in poverty. In this day and age, poverty is like polio – it is completely avoidable if governments adopt the right policy mix. Persistent...

New UST issuance estimates for July/Aug/Sept quarter now assuming an imminent suspension of the 'debt ceiling':   $271b increase.TGA target balance for end of this quarter is also increased to $350b almost $200b higher than recent.  Close to a $200b decrease in Reserve Assets at the Depositories in about 2 months time...Fed still planning on lowering reserves at the system level by another $35b per month for those same two months so another $70b reduction there over the same...

Many Labour Party members are being accused of being antisemitic, but what about the blatant the anti-Russianism that is rampant in the West. Why doesn't the liberal and anti-racist Guardian call this out?  Pretending to ‘understand’ Russia has become quite the lucrative business for Western media professionals in recent years – and “leading” Russia expert extraordinaire Keir Giles is the latest to believe he has cracked the code. Generous Giles has published a list of 10 “ground...