Theory
Fiat Socialism by Carlos García Hernández – William Mitchell – Modern Monetary Theory – Beragampengetahuan
When I was in London recently, I caught up with my good friend Carlos García Hernández, who is a Spanish radical and has a book publishing business – Lola Books – in Berlin, which publishes in English, German, Spanish and Italian. He gave me a copy of his own recently published book (2023) – Fiat […]
Rinse and repeat – Truss chaos – the new benchmark – William Mitchell – Modern Monetary Theory – Beragampengetahuan
For years, those who want selective access to government spending benefits (like the military-industrial complex and other parasitic sectors), while claiming the government cannot afford to provide adequate income support to the most disadvantaged citizens have used various ruses to give an air of authority or legitimacy to their claims. So in the UK, the […]
Entropy, the Theory of Value and the Future of Humanity — James K. Galbraith ~ Mike Norman Economics – Beragampengetahuan
In a keynote address to a conference on “Geopolitical Changes” at Kozminski University, Warsaw, on January 29, 2024, Professor James Galbraith called for economics to break with equilibrium dogma and re-found itself on the life principles that govern physics, biology and every existing mechanical and social system. Noting the distinguished presence of Professors Francis Fukuyama […]
Bank of Japan’s rate rise is not a sign of a radical policy shift – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Yesterday, the Bank of Japan increased its policy target rate for the first time in 17 odd years and it set the noise level among the commentariat off the charts – ‘finally, they have bowed to the pressure from the financial markets’, ‘major tightening’, ‘scraps radical policy’, etc – all the hysteria. The reality is […]
My blog is on holiday today – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Its that time of the year … I have a long flight today with a long drive from where I have been working this week to get to the airport and at the end of the various journeys will be a birthday cake (cue LC). The travel is to get me to where the cake […]
Can a film about modern monetary theory change our economic debates? — Cameron Murray ~ Mike Norman Economics – Beragampengetahuan
The entire trailer is Stephanie Kelton. When was her book published? Has that changed anything? I don’t want to be a cynic, but there are a lot of powerful people with too much to lose if MMT manages to change policy and the way we see things. There shouldn’t be an Art Degree “debate!” in […]
E.P. Thompson and why class remains an important organising framework – William Mitchell – Modern Monetary Theory – Beragampengetahuan
I have been travelling for most of today so I have to keep this post short. Well shorter than usual. Edward Palmer Thompson – who died at the age of 69 in 1993, was a British writer who wrote the exceptional book – The Making of the English Working Class – which was a very […]
The Smith Family manga – Episode 12 – the Season 1 finale – is now available – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Episode 12 – the finale for Season 1 in our new Manga series – The Smith Family and their Adventures with Money – is now available. We will let everyone calm down from the excitement for a little while to give us time to write and draw Season 2, which will begin on May 24, […]
My blog is flying back to Australia … back Wednesday – William Mitchell – Modern Monetary Theory – Beragampengetahuan
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mining theory – Difficulty Leading Zeroes Problem – Beragampengetahuan
Bitcoin mining difficulty always increases, meaning the target decreases. There is only 256 bits in SHA256 number. Can the difficulty theoretically get to 0, meaning that for the block to be mined, the hash has to be equal to zero (all leading 0s). It will mean that it cannot decrease lower, therefore killing the difficulty […]