Mike Norman Economics

Lambert Strether posed these links at Naked Capitalism. The VoxEU article was posted here at MNE when it came out. It is cited here if you missed it. The operative post is the Twitter thread that Scott Fullwiler tweeted in response to it.Modern money theory and its implementation and challenges: The case of Japan VoxEU. Thread in response by Fullwiler.Naked CapitalismSee also at Naked Capitalism today.Michael Hudson exceeded himself on this one. Here is the conclusion. The American promise...

Economists still leave out the role that money plays in the economy, says Steve Keen, in fact, they accuse him of confusing stocks with flows. They believe the economy is all based on barter, i.e, one to one, not understanding how bank credit can distort prices.To get the Australian economy going again, the Australian government will boost the housing market, but this makes the problem worse in the long run, says Steve Keen.In Part 2 Steve Keen says he differs from the MMTers in that he...

Conservatives politician, Jesse Norman, interviews Paul Mason, an economic advisor to Jeremy Corbyn. Paul Mason describes himself as a non-statist Marxist, and he seems to hold similar views to me. It's interesting what he says about identify politics.The interview is non confrontational and it's interesting to see on what they both agree on, although they remain politically opposite. Both want to see less neoliberalism, less rent extraction, and more improved markets.Paul Mason says he...

Should be neoliberalism is destroying the illusion of liberal democracy.EvonomicsNobel Economist Says Inequality is Destroying Democratic Capitalism Angus Deaton | Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Woodrow Wilson School of Public and International Affairs and the Economics Department at Princeton University

I don't think that this quite correct. John Bolton is the frontman in the administration for casino billionaire Sheldon Adelson, a rabid supporter of Zionism and a major contributor to Trump's political campaign. It is not an exaggeration to say that Trump owes his 2016 victory in large part to Adelson's legal bribery.OK, course, Trump gave no quid pro quo for the funding, so it is not bribery in the legal sense. However, anyone who thinks that political contributions, especially large ones,...

Same with Russia. Moronic strategy, making declared adversaries stronger and more self-sufficient. The other good side is that empires don't last long with morons in charge. The Money IllusionChina’s best friend?Scott Sumner | Professor of Economics at Bentley University

Anyone see a pattern here? Any wonder why there is a push for multilateralism to counter unipolarism (read world dominance).News in AsiaLaughable: US Claims ‘Free and Open Seas,’ Tries to Push China Out of Indian, Pacific Trade Pepe Escobar SouthFrontMike Pompeo Says Foreign Actors Must Leave Venezuela, So That US Can Rebuild It

Stephen Fry has made the ultimate myth-busting video about private healthcare vs the NHS [embedded content] Will Boris and Trump privatise the NHS? How much would medicare for all cost in the US? Which healthcare system is most likely to save you? Killer facts are hidden by carefully constructed illusions.

I've got addicted to Twitter recently, probably because it works better with my new phone. But Bill Binney won't go near twitter, or Facebook, or leave any likes anywhere, because he knows the NSA are watching everybody. And they listen to every phone call you make and read all your emails.I read on the internet yesterday how they a are hunting everywhere for photographs of you to build up a facial recognition database. They go to Facebook, Google, Twitter, where ever.Bill Binney says he...

Was selling triggered by something fundamental?