Mike Norman Economics

G Carchedi and I are working on a paper on the economics of imperialism that covers measuring unequal exchange in trade, factor income flows on the current account; and foreign investment on the capital account. We reach similar conclusions to Ricci in that imperialism is alive and well and inequality between the imperialist economies and the rest is just as wide as it was 100 years go. Value produced in the dominated countries get appropriated and transferred to the imperialist economies...

The focus of my upcoming book is on recession forecasting, and not policy responses towards recessions. However, I expect that this is a subject of interest to many of my readers, so I will offer a brief outline of some of the literature. (Note: this is an unedited first draft of a section from my manuscript book on recessions. For a typical standalone article, it is too long. However, I do not want to spend time stripping out information that should appear in a book. I could have split it...

Inside China's 'thought transformation' camps - BBC News [embedded content] This video by the BBC is pure propaganda, which has been designed to make people absolutely hate the Chinese. Just listen to the narrator, who sounds like a very nice, middle-class, well educated English guy who would never lie.The documentary makes out the Chinese as being entirely bad with no redeeming values, while the good middle-class documentary maker seems to stand for good British values of honour,...

Policymakers and researchers have sought to understand the causes of and effective policy responses to recent increases in mortality due to alcohol, drugs, and suicide in the US. This column examines the role of the minimum wage and the earned income tax credit – the two most important policy levers for raising incomes for low-wage workers – as tools to combat these trends. It finds that both policies significantly reduce non-drug suicides among adults without a college degree, and that the...

Godfrey Roberts exposes the Western propaganda against China, where he also gives evidence of Western backing of Jihadist Islamic groups in China and the rest of the world. After deploying Islamists in Pakistan in the 2000s to disrupt Chinese infrastructure, in Myanmar to disrupt the China-Myanmar energy assets and across Sudan, Libya and Syria to choke off China’s oil and gas Fuller said, “Uyghurs are indeed in touch with Muslim groups outside Xinjiang, some of them have been radicalized...

In his final paper on the multiverse hypothesis, the world’s best-known atheist made a supernatural creator more plausible Many scientists believe that that are an infinite amount of universes which are being formed all the time. They could all have different laws of physics and if there are an infinite amount of them, then occasionally one could support life. But what happens is the maths tells us that all the universes have the same laws of physics? The problem is that the less...

I sometimes think is it just me that is impressed by Putin and Xi Jinping, and then I wonder whether I am just being naive when neoliberalism and libertarianism, i.e, pressent western philosophy, teaches us that we are all just entirely selfish, and that any good deed we do is just to satisfy a selfish desire - fame, admiration, glory, popularity, etc.Fortunately, no, not just me, but Paul Craig Roberts as well as many others who believe that there can be a better world and that our leaders...

Could all of time be here at once and we are just observing life like watching a movie go by. The beginning, middle, and the end are all here at once, but just like reading a book, we are forced to observe it one moment at a time.But why is there struggle when everything is preordained? And yet without the struggle there can be no consciousness. Creatures became aware of reality in order to be able to survive in it, and so evolution took place and higher consciousness came about.Carl Jung's...

Press freedom and narrative control.IrrussianalityFunny old worldPaul Robinson | Professor, Graduate School of Public and International Affairs at the University of Ottawa

Abstract This paper presents an alternative presentation of Modern Monetary Theory (MMT). The main thesis of this paper is that when a nation has monetary sovereignty and fiat currency, government is quite flexible its methods in controlling price level through market mechanisms, as Warren Mosler - one of the founders of MMT - often states. The reason given, however, differs from typical MMT or chartalist accounts and comes more from a traditional monetarist origin. This somewhat...