Mike Norman Economics

While Lagarde said MMT is no panacea, she didn’t reject it outright.“While it is tempting, when you look at the sort of mathematical modeling of it, and it seems to stand, there are big caveats about it, such as if the country is in a liquidity trap, such as if there is deflation. Well then, in those circumstances, it could possibly work for a short period of time probably, because interest rates stay low until such time when they start going up. And then it is a bit of a trap.”-- April 11,...

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Getting out of the bubble. Russia InsiderTop Russian Governors, Heads of Major Ministries Made to Work on Road Crews to Learn Humility, Stay Grounded (Russian TV News) RI Staff

News blackout. Checkpoint Asia Every Major MSM Paper Declined to Run This Piece on UK Treatment of Assange by UN Rapporteur on Torture Nils Melzer, UN Special Rapporteur on Torture

Backgrounder.Checkpoint AsiaBillions of Dollars Later, China Chipmakers Gain Ground but Still Trail Global LeadersDoug YoungOriginally appeared at Caixin

Stuart Birks publishes WEA Commentaries. This is a project of the World Economic Association, which is the World’s largest organization of heterodox economists, who aim to challenge the dominant, mainstream, orthodoxy in economics. In the latest issue of the commentaries, Stuart has published extracts from my article on “Islam’s Gift: An Economy of Spiritual Development“. Initial segment of these extracts is as follows: An Islamic WorldViewModern Economics Versus Islamic Economics Asad...

India is a country of contrasts. It is home to a $160 billion tech services industry, while also buffeted by environmental and social challenges - and this makes it fertile ground for globally scalable, tech-driven solutions.... World Economic ForumIf innovators can solve India's problems, they can save the world. Here's why. Nikhil Malhotra

Short review of  The Business of Platforms by Michael Cusumano, Annabelle Gawer and Devid Yoffie. Digital platforms are now looming large in the globalized economy and policy reals. They are also generating a lot of questions, not the least of which concern natural monopoly and anti-trust, since in some cases the platform is becoming the market.The Enlightened EconomistThinking strategically about platformsDiane Coyle | freelance economist and a former advisor to the UK Treasury. She is a...

The Austrian theory of money virtually begins and ends with Ludwig von Mises's monumental Theory of Money and Credit, published in 1912.1 Mises's fundamental accomplishment was to take the theory of marginal utility, built up by Austrian economists and other marginalists as the explanation for consumer demand and market price, and apply it to the demand for and the value, or the price, of money. No longer did the theory of money need to be separated from the general economic theory of...

Neutral to slightly positive for MMT. NKH News (Japan)Is Japan a "model" for modern monetary theory?Shuji Noguchi | Senior Correspondent, NHK General Bureau for America