Mike Norman Economics

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...

Mariana Mazzucato is one of the world’s most influential economists, according to Quartz magazine. She has won many awards for her work. She is an adviser to the UK Labour Party on economic policy; she “has the ear” of radical Congress representative Alexandria Ocasio-Cortez, she advises Democratic presidential hopeful, Senator Elizabeth Warren and also Scottish Nationalist leader Nicola Sturgeon. And she has written two key books: The Entrepreneurial State (2013) and the The Value of...

This must be like a libertarian nightmare: "The president asked Mnuchin to negotiate a deal. And Mnuchin went to Pelosi saying, 'How much is it going to cost me to get a debt limit increase past the election?''' THIS MUCH ???? https://t.co/ZYwSpbuRtC pic.twitter.com/E9oOsbpZBH — Romina Boccia (@RominaBoccia) July 25, 2019 hahahahahahahaha! suck it up cupcakes!!!! Got thru the House today; probably the whole libertarian House Freakdom Caucus voted "NO!"... libertarian assholes...: I am...

Since the 1980s, labour compensation relative to aggregate output has been on an inexorable downward trend across major developed economies. This column deploys a simple accounting technology to tease out the driving factors behind this, focusing on the US. The findings highlight the key role of under-appreciated factors, including supercycles and boom-bust effects and rising depreciation. The analysis suggests that while the effect of some factors may dampen or reverse, others will likely...

 How low can it go? WTF is going on!! Zero HedgeEntire Swiss Curve Goes Sub-Zero - Global Negative-Yielding Debt Spikes To New Record HighTyler Durden

More anti-trust talk. Zero HedgeBarr And State AGs Discuss Big Tech Monopolies As 'Flipped' Facebook Co-Founder Helps Devise Antitrust ActionTyler Durden

Fed, debt ceiling, reserves.

This goes well with the Andre Vltchek article I just put out.Max Keiser says the US fell behind the rest of the world with 5G for three reasons.1. US CEO's sold off the technology to increase short-term profits.2. The US government set no standard for 5G which meant US companies were too scared to invest incase their version didn't win out in the market.3. The US military uses part of the 5G spectrum for spying and didn't want to give it up.Max says how China plans for the long term future...