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Canadian Dimension: The New Global Financial Cold War

Photo by Des Byrne The Guns and Butter Interview Suppose a country owes money to another nation’s government or official agency. How can creditors collect, unless there’s an international court and an enfor… . . . → Read More: Canadian Dimension: The New Global Financial Cold War

Canadian Dimension: The US Economy Has Not Recovered and Will Not Recover

Photo by Dave Center The US economy died when middle class jobs were offshored and when the financial system was deregulated. Jobs offshoring benefitted Wall Street, corporate executives, and shareholders, beca… . . . → Read More: Canadian Dimension: The US Economy Has Not Recovered and Will Not Recover

Canadian Dimension: Richest 62 people as wealthy as half of world’s population, says Oxfam

Photo by Alberto Carrasco-Casado The vast and growing gap between rich and poor has been laid bare in a new Oxfam report showing that the 62 richest billionaires own as much wealth as the poorer half of the worl… . . . → Read More: Canadian Dimension: Richest 62 people as wealthy as half of world’s population, says Oxfam

Canadian Dimension: Struggling to manage your life? Our destructive system is likely to blame

Photo by frankieleon I was dismayed by the comments of two women on CBC Toronto’s Metro Morning recently. The program deserves credit for planning throughout the week to deal with issues of stress and the fact… . . . → Read More: Canadian Dimension: Struggling to manage your life? Our destructive system is likely to blame

Canadian Dimension: International Monetary Fund’s Rogues Gallery

Photo by Ryan Hyde Introduction The IMF is the leading international monetary agency whose public purpose is to maintain the stability of the global financial system through loans linked to proposals designed t… . . . → Read More: Canadian Dimension: International Monetary Fund’s Rogues Gallery

Canadian Dimension: State Terror or Capitalist Terror, Military Coup or Capitalist Coup

The Rosariazo in 1969. The worsening economy and the onset of dictatorship led to waves of protests, strikes and riots. • Photo by Carlos Saldi

Introduction

Democratic critics of military seizures of power commonly refer to them as military coups. They adopt a very narrow and misleading conception of what is taking place.

. . . → Read More: Canadian Dimension: State Terror or Capitalist Terror, Military Coup or Capitalist Coup

Canadian Dimension: Global Corporate Cash Piles Exceed $15 Trillion

Photo from Public Domain

The global economy is slowing – from China to Brazil to South Africa and beyond. Currency wars initiated in 2013 by Japan’s introducing a ‘quantitative easing’ (QE) monetary policy, intensified in 2015 by Europe introducing its own ‘QE’, and exacerbated still further by Saudi Arabia initiating a global oil . . . → Read More: Canadian Dimension: Global Corporate Cash Piles Exceed $15 Trillion

The Progressive Economics Forum: Would an NDP win mean the end of Canada?

Louis-Philippe Rochon Associate professor of Economics – Laurentian University Founding co-Editor – Review of Keynesian Economics

Follow him on Twitter – @Lprochon

This story from the CBC on August 14, 2015. See story here.

 

With the NDP riding high in a number of national polls at the moment, there is an increasingly real possibility . . . → Read More: The Progressive Economics Forum: Would an NDP win mean the end of Canada?

The Progressive Economics Forum: Harper has the worst economic record in history

Louis-Philippe Rochon Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics

Follow him on Twitter @Lprochon

 

Mr. Harper and the Conservatives never miss an opportunity of reminding Canadians that we should vote for them in October in order to ensure economic prosperity in the future. At the heart of this argument is the belief . . . → Read More: The Progressive Economics Forum: Harper has the worst economic record in history

The Progressive Economics Forum: Rhetoric vs Reality: The Harper Govt Economic Record

Speculation is intense that the unofficial election campaign we have already been experiencing for several months, is about to become official: Ottawa is awash in rumours the writ may be dropped as early as this weekend, setting the stage for months of promises, accusations, and photo-ops.

As always the economy will be the top issue. . . . → Read More: The Progressive Economics Forum: Rhetoric vs Reality: The Harper Govt Economic Record

Canadian Dimension: Harper is fighting the deficit battle but losing the economic war

Finance Minister Joe Oliver • Photo by Harvey K

The evidence is mounting that Canada’s economy may already be in an outright recession. Recent data on investment, exports, building permits and retail sales all paint a gloomy picture, and Friday’s jobs numbers (the private sector shed 49,000 jobs in June, partly offset by . . . → Read More: Canadian Dimension: Harper is fighting the deficit battle but losing the economic war

Canadian Dimension: Pillage and Class Polarization: The Rise of “Criminal Capitalism”

The Tribune of the Uffizi (1772–78), by Johann Zoffany, depicts the commodity-fetishism metamorphosis of oil paintings into culture-industry products.

Introduction

About 75% of US employees work 40 hours or longer, the second longest among all OECD countries, exceeded only by Poland and tied with South Korea. In contrast, only 10% of Danish workers, . . . → Read More: Canadian Dimension: Pillage and Class Polarization: The Rise of “Criminal Capitalism”

Canadian Dimension: Polarizing Development

Photo by Paul Sparkes

Neoliberal economic policies, with their emphasis on market-led development and individual rationality, have been exposed as bankrupt not only by the global economic crisis but also by increasing social opposition and resistance. Social movements and critical scholars in Latin America, East Asia, Europe and the United States, alongside the . . . → Read More: Canadian Dimension: Polarizing Development

Canadian Dimension: World’s Richest 80 People Own Same Amount as World’s Bottom 50%

Photo by Ken Teegardin

Oxfam’s recent report, “Wealth: Having It All and Wanting More,” contains shocking figures that the press haven’t sufficiently publicized; so, the findings and the reliability of their sources will be discussed here. The results will then be related to the central political debate now going on in the U.S. . . . → Read More: Canadian Dimension: World’s Richest 80 People Own Same Amount as World’s Bottom 50%

The Progressive Economics Forum: ROCHON on 2015 budget: Conservatives making a mockery of working Canadians

CONSERVATIVES MAKING A MOCKERY OF WORKING CANADIANS

Louis-Philippe Rochon

Associate Professor of Economics, Laurentian University

Co-Editor, Review of Keynesian Economics

 

Today, with great fanfare, Minister of Finance, Joe Oliver, tabled his much-delayed budget in the House of Commons. Despite the government’s best effort to confuse Canadians with tales of terrorism, the economy and job . . . → Read More: The Progressive Economics Forum: ROCHON on 2015 budget: Conservatives making a mockery of working Canadians

The Progressive Economics Forum: ROCHON on the upcoming federal budget (April 2015)

THE FEDERAL BUDGET AND CANADA’S ANNUS HORRIBILIS

See Original post here for the CBC.

Canada’s Finance Minister Joe Oliver announced a new – and long overdue – federal budget for April 21. With the Canadian economy doing so badly, this budget will be crucial.

Will the minister do the right thing and give Canadians a . . . → Read More: The Progressive Economics Forum: ROCHON on the upcoming federal budget (April 2015)

The Progressive Economics Forum: THE EURO, THE DRACHMA AND GREECE: limited options in an impossible situation

Jean-Francois Ponsot

Associate Professor of Economics, Université de Grenoble (France)

and

Louis-Philippe Rochon

Associate Professor of Economics, Laurentian University (Canada)

Co-Editor, Review of Keynesian Economics

___________________

The final agreement between Greece and the Eurogroup is a disappointment for anyone who held high hopes that Greece would have taken away more than a mere extension to . . . → Read More: The Progressive Economics Forum: THE EURO, THE DRACHMA AND GREECE: limited options in an impossible situation

The Progressive Economics Forum: ROCHON On Greece once More

LOUIS-PHILIPPE ROCHON

Associate Professor, Laurentian University

Co-editor, Review of Keynesian Economics

Follow him on Twitter @Lprochon

________________________

As I have said before (see here) and will say again: any solution to Greek’s tragedy, which involves keeping the Euro as a currency is a second-best solution, unless the appropriate institutional changes are adopted. Anything short of . . . → Read More: The Progressive Economics Forum: ROCHON On Greece once More

The Progressive Economics Forum: G20 meeting of world finance ministers too little too late

Posted earlier as an opinion piece for CBC. See original post here (this post slightly modified from original)

By Louis-Philippe Rochon

Follow him on Twitter @Lprochon

 

Much was at stake earlier this week when finance ministers from G20 countries met in Istanbul to discuss Greece and the state of the world economy in . . . → Read More: The Progressive Economics Forum: G20 meeting of world finance ministers too little too late

The Progressive Economics Forum: ROCHON: Greece, Syriza and the Euro

This is a guest blog post from Louis-Philippe Rochon.

Follow him on Twitter @Lprochon.

What a tumultuous few weeks we witnessed in Greece. Though the victory of Syriza was ill-received in particular in Germany and the European Central Bank, it was nonetheless a resounding victory for democracy. This victory may now spill into other . . . → Read More: The Progressive Economics Forum: ROCHON: Greece, Syriza and the Euro

Canadian Dimension: A New Deal for a Precarious Economy

Illustration from a 1916 advertisement for a vocational school in the back of a US magazine. • Image from Popular Science Monthly, Modern Publishing Co., New York, Vol. 88, No. 3, March 1916, p. 105

What do you say we start this discussion with some facts?

I know, I know, that’s not the . . . → Read More: Canadian Dimension: A New Deal for a Precarious Economy

The Progressive Economics Forum: ROCHON: Harper in closet over the economy as Canada heads toward another recession

This guest blog post has been written by Louis-Philippe Rochon.

You can follow him on Twitter @Lprochon

Harper’s recent incarnation as an anti-terrorist crusader has caught many Canadians by surprise. Harper is spending considerable political energy beating the drums of war against terrorists, and introducing a far-reaching, and much condemned, bill aimed at restricting . . . → Read More: The Progressive Economics Forum: ROCHON: Harper in closet over the economy as Canada heads toward another recession

The Progressive Economics Forum: Rochon Asks: “Is the Canadian economy unraveling?”

In a recent CBC blog post, Louis-Philippe Rochon assesses the current state of the Canadian economy.

The link to the blog post is here.

Follow him on Twitter @Lprochon.

The Progressive Economics Forum: Seccareccia on Greece, Austerity and the Eurozone

Over at the blog of the Institute for New Economic Thinking, Ottawa U professor Mario Seccareccia has given an interview titled “Greece Shows the Limits of Austerity in the Eurozone. What Now?”

The interview can be read here.

The Progressive Economics Forum: (Macro) Econ 101

On December 2, Chris Ragan wrote a column for the Globe and Mail titled “Another (Macro) Defense of Econ 101.” The link to his column is available here . My brief reply was published in the Globe and Mail on December 13. The full version is below:

Professor Ragan defends conventional (macro) Econ 101 as . . . → Read More: The Progressive Economics Forum: (Macro) Econ 101