Mike Norman Economics

It’s Wednesday and while there is a lot to write about, I am prioritising the release today of our latest research at the Centre of Full Employment and Equity (CofFEE). The release of what we are calling the – CofFEE Financial Resilience Barometer – Version 1.0 – is part of a research collaboration I have with Professor Scott Baum at Griffith University. We have Australian Research Council funding for the next three years to explore regional resilience in the face of economic shocks,...

There have been several interrelated strands in research and practice associated with the dominance of neoliberalism over the last decades. The problem has been that these approaches have been as much enthusiastically promoted by social democratic or progressive forces as they have conservatives. Indeed, conservative political forces have gone down the ‘Trumpian’ far right sink hole and the social democratic parties have moved into the political space vacated – that is, further right than...

Finding the Money follows economist Stephanie Kelton on an exploration of Modern Monetary Theory.Also appearing in the movie are Pavlina R. Tcherneva, L. Randall Wray, Mathew Forstater and Fadhel Kaboub.Lars P. Syll’s BlogMMT the MovieLars P. Syll | Professor, Malmo University

Global focus just shifted from Ukraine to Palestine. This new arena of confrontation will ignite further competition between the Atlanticist and Eurasian blocs. These fights are increasingly zero-sum ones; as in Ukraine, only one pole can emerge strengthened and victorious.More on the intersection of geopolitics and geoeconomics. Unfortunately, the direction is toward military-technical solutions.The CradleThe geopolitics of Al-Aqsa FloodPepe Escobar

There's no moral hazard: Chief Economist of Bank of China International (China) breaks down China's local govt debt into three dimensions: data, the "China model", and central-local govt relationship.Long and detailed article on how China's government finance works.In reality, the key determinant of government debt sustainability does not lie with the size of the debt but rather factors like inflation and international trade balances. As long as inflation remains subdued and international...

For those interested in Keynes and "Keynesianism," and Marx and "Marxism." Nathan Tankus displays  his characteristically impressive grasp of the subject he is analyzing. JacobinKeynes and the MarxistsNathan Tankus, MMT economist

Carlos García Hernández explains how he came up with the idea for his concept of fiat socialism that led to writing book based on MMT.Fiat Socialism was recently published and it is also available for subscribers to read as an ebook at Scribd.The Gower Initiative for Modern Money StudiesThe story behind Fiat SocialismCarlos García Hernández, author of Fiat Socialism: Achieving the goals of socialism through modern monetary theory. Carlos lives in Spain.See alsoThe Gower Initiative for Modern...

“Energizer Bunny economy!”  Another figure of speech…   This is what you get from these people… every time…

The issue is an alternative payments system and not an alternative currency.Naked CapitalismMichael Hudson: A BRICS+ Bank: How Would It Really Function?With introduction by Yves Smith

Like most U.S. appointees to head the [World] Bank, Banga had no experience or earlier interest in development finance. Now, he is obliged to pursue U.S. interests and agendas. He has already announced he will rely on the private sector for funds and ideas....Neo-feudalism. MR OnlineDebt-pushing as financial inclusionJomo Kwame SundaramOriginally published: IPS News on October 4, 2023