Mike Norman Economics

Bard College Economics Professor L. Randall Wray explains the controversial idea that’s gaining acceptance with Bloomberg's Cristina Lindblad and Peter Coy. [embedded content] But the right-wing doomsters are going full pelt underneath. From the comments section - It is amazing that someone calls himself economist after ignoring economic history. ALL nations who printed/coined/digitalised money at will went broke. It takes an hour or two to study cases like Greece, Rome, Byzantine...

Some guy called Robert Elliott has put out in the Guardian some of the most blatant misinformation I've ever come across. What is so diabolical about the article is that Elliott says he's the CEO of a company that he set up to counter disinformation, especially from Russia.If you read the article you will see that Elliott's company gets some funding from the British government.Elliott says Maduro was behind a coup in Venezuela, but Jimmy Carter observed the elections and said they were the...

I use a simple rule. If you want to have an idea of what we will be facing by the middle of this century absent concerted action on climate change, then what we think of today, what we perceive, what we describe as record heat or a record heat wave— in a few decades, we will simply call that summer. The typical summer day will be like the most extreme day that we have seen in our lifetimes at this point. And what unusual heat, record heat, will look like at that point, we don’t even have...

Real-World Economics Review BlogUnderstanding global inequality in the 21st century Jayati Ghosh | Professor of Economics at the Centre for Economic Studies and Planning, School of Social Sciences, at the Jawaharlal Nehru University, in New Delhi Caitlin Johnstone — Rogue JournalistThe Real Reason The Propagandists Have Been Promoting Russia HysteriaHow To Inoculate Yourself From Establishment BullshitEight Thoughts On Marianne Williamson Caitlin Johnstone TASSUS deployment of weapons...

"Save munnie!!!" :p BREAKING: US government will resume executions after 16-year pause. https://t.co/XS3Snkin3V— MSNBC (@MSNBC) July 25, 2019

Tucker Carlson nails it!The Dems kept saying they had evidence, but have never been able to produce any, and nor has anyone else. [embedded content]

This policy inclination – both local and one suggested in IMF programs towards over-relying on policy rate on curtailing aggregate demand, is indeed a disproportionate response to correctly and effectively addressing inflation and low growth challenge. Pakistan, therefore, needs a balanced monetary and fiscal policy response to tackle the issues of stagflation. The policy should focus on both the aggregate – demand and supply sides. This will also help bring a much-needed boost in the...

Another one on methodology.I, my view, Tim Harford is basically correct in thinking that the optimal methodological approach in economics, as in the social sciences, is to "let a hundred flowers bloom," to borrow a metaphor from Chairman Mao. But from the POV of the "hard" sciences, "soft science" is not "real" science. That is drawing lines arbitrarily. It basically says that the other "sciences" are not physics or chemistry. Well, doh. Anyway, the post is worth a read. It takes off from a...

Andre Vltchek looks into the terrifying world of the Uyghur extremists. It's a very long article which shows a whole network of terrorist activity across the Middle East, Asia, and Russia, all of it backed by Western intelligence agencies. They are charged up with Wahhabism and want to turn the world into an Islamic state.The majority of Uyghurs are peaceful Muslims, but there's enough of a minority to cause havoc throughout the world. Lots of them are in Syria fighting Assad's...

Don’t know about you, but watching the daily news isn’t much fun these days (nor is the weather/climate), and this week in particular, I am sorely in need of light relief. There was even a riot at my local swimming pool yesterday.So back to the abandoned series of ‘Friday funnies’: here’s a few previous FP2P posts that might just qualify. Coincidentally, they are the ones that the people I talk to often remember best. Hope they are acceptable – I once received a complaint because the...