Mike Norman Economics

...Bringing science into economics must necessarily entail measurements in the scientific units above (plus the utilization of taxonomic schemes for biota). Thus if we assess by scientific studies and measurements that we are causing the 6th mass extinction and forcing dangerous climate change by releasing CO2 from our fossil fuels, then we have assessed that we should stop using fossil fuels. How we stop is the next matter for consideration and then we must examine energy transitions,...

Oliver Boyd-Barrett looks at who benefits from having the corporate media suffocate their public with a puerile narrative for over two years.  An excellent article on the RussiaGate conspiracy theory. It goes over quite a lot.Those of us that knew RussiaGate was fake news were unable to believe the level of audacity of the establishment and the media. Every night on TV we watched politicians and journalists outright lying.  For over two years RussiaGate has accounted for a substantial...

Fed will cut rates this week. Other central banks cue up.

Critics of the Saudi regime seem to be dissappearing, but MBS is still getting the red carpet in the West.This article gives a climpse of how dangerous the world really is.The assassination of Jamal Khashoggi was no aberration. A Vanity Fair investigation reveals how Saudi Arabia attempts to abduct, repatriate—and sometimes murder—citizens it regards as enemies of the state. In April, Iyad el-Baghdadi, an exiled Arab activist living in Oslo, was surprised when Norwegian security officials...

Under cover of its Russian S-400 air defence batteries, and ignoring US and European sanctions, Turkey is going on the offensive at sea, surrounding Cyprus, and by land, launching a weapon against the European Union against which there is no defence: a Turkish cannon firing 150,000 people at Europe’s borders each month. They are the refugees from the wars the US and NATO launched in Iraq, Syria and Libya. A Russian analysis entitled “Turkey will open the door to Europe for millions of...

We are today half-way through the first year of the latest transition in Russia. In fact, this is the third major transition, or change of direction and priorities, sincethe emergence of modern Russia in 1991. This particular stage in the evolution is when, if handled correctly, Russia should start to see the emergence of a new economic order and the start of more sustainable and steady growth with lifestyle and social improvements to match. It is of course far too early to be able to say...

Randy Wray video and Lars's comment about MMT's implications for the eurozone.Lars P. Syll’s BlogEverything you want to now about MMTLars P. Syll | Professor, Malmo University

Take a look at this, fellas.To be fair, the reporter said afterwards that his phone was cutting out and Jo Coburn was in dismay about this. [embedded content]

This is the second and final part of my recent discussion on the what a Green New Deal requires. All manner of proposals seem to have become part of the GND. The problem is that many of these proposals sell the idea short and will fail to achieve what is really required – a massive transformation of society and the role the government plays within it. The imprecision is exacerbated by progressives who are afraid to go too far outside the neoliberal mould for fear of being shut out of the...

Mark Blyth severely criticises MMT at around the 24 minute mark. It lasts about 5 minutes. He says it could work for America but would mess up the rest of the world which needs dollars to buy oil. What do you think? [embedded content]