Mike Norman Economics

In Part I, I considered an Australian-based attack on MMT from a Labour Party stooge. In this Part, I shift to Britain to address the recent article by a Northern Labour MP – Jonathan Reynolds – who is apparently, if his arrogance is to be believed, the Labour Party spokesperson on matters economic. For the title of his recent article (June 4, 2019) was – Why Labour doesn’t support Modern Monetary Theory – which begs the question as to who actually doesn’t support MMT – all of Labour?...

More of the figurative "pumping!"...China has “tremendous” room to adjust monetary policy if the trade war with the U.S. deepens, says People’s Bank of China Governor Yi Gang https://t.co/rFqYgqrX5a pic.twitter.com/J9RCJiegF9— Bloomberg (@business) June 7, 2019

'Vandalism on Hampstead Heath is completely unacceptable', says City of London A MYSTERY sign writer has used the slopes of Parliament Hill to send a message to US President Donald Trump – currently visiting the UK on an official state visit. Heath walkers were bemused this morning (Wednesday) to find someone had used a field near Highgate Road to daub a slogan in giant letters stating “‘F**k Trump.” Nearby, another protester had created a sign overlooking the Parliament Hill running...

Mike from 2016, already way ahead on outreach back then... writing about "the debt!" doomsday fallacies years ago on RealMoney.com and getting top headlines on yahoo.comNothing has changed from this.  U.S. (really the whole planet earth) is in the exact same knowledge. There has been no change.[embedded content]

lol Trump Derangement Syndrome lefty USAToday unqualified journos on the loose...Dialectic trained MMT people making no difference whatsoever... none... zero... zip.... nada.... and  never will... ...some left-wing Democrats lately have begun pitching their own voodoo economics known as "modern monetary theory." This holds that deficits don’t matter because currencies — particularly reserve currencies like the dollar — are monopolies, and therefore institutional investors will have no...

Peter Dorman critiques the CORE revision of Econ 101 and finds that it relies too much on rote and not enough on active learning. Rote may be more suitable for those going on in the study of economics, but most students taking Econ 101 don't. The introductory course should be designed to serve the needs of the many rather than the few.EconospeakCORE and Periphery in the Reform of Econ 101Peter Dorman | Professor of Political Economy, The Evergreen State College

Maybe Iran holds the Trump card? Putting the West on notice.The Vineyard of the SakerWhy Trump now wants talks with Iran Pepe EscobarSee alsoReminiscence of the FuturePepe Escobar's Superb Segment On European Elections. Andrei Martyanov

For all the talk of Modern Monetary Theory representing a brave new frontier, it is easy to forget that the United States has gone down this road before, when the US Federal Reserve financed the war effort in the 1940s. Then, as now, the question is not about government debt, but about the debt’s purpose and justification. An excellent, concise article on MMT.  In his book Principles for Navigating Big Debt Crises, Dalio documents the steps that central banks have historically taken...

The economic arguments adopted by Britain and the US in the 1980s led to vastly increased inequality – and gave the false impression that this outcome was not only inevitable, but good.  If you live in a harsh society and have to work as hard as you can just to stop yourself falling into hell, you may develop a harsh attitude to those that are poor seeing them as undeserving. Europeans tend not to live in such a harsh environment and so tend to be more generous towards the poor, besides,...

Leading proponents of Modern Monetary Theory respond to Tribune's recent article on the topic, arguing that socialists should not be afraid to "seize the means of production of money." TribuneFor MMT Thomas Fazi and Bill Mitchell