The Sir Robert Bond Papers: Justice and the budget #nlpoli

The latest in a string of little budget dramas ended on Friday afternoon. A group of lawyers that included former Conservative party president John Babb launched a court case to try and force the provincial government to re-open the courthouse in Harbour Grace.  So Friday afternoon ,  justice minister Andrew Parsons announced that the government ...

The Progressive Economics Forum: Summer reading! Review of Stanford’s second edition of Economics for Everyone

Looking for something to take with you to the cottage, the beach or the cafe?  Check out  Jim Stanford’s 2nd edition of Economics for Everyone.  Here’s a review by Peter G. Prontzos first published in the Vancouver Sun. Book review: A fresh look at the dismal science of economics Economics for Everyone:A Short Guide to the Economics of ...

The Sir Robert Bond Papers: Using his words #nlpoli

Politicians are usually very careful about the words they use. That’s why it’s important to notice the words Premier Dwight Ball used this weekend in an interview with Tom Clark for Global’s current affairs show The West Block. Ball said there was “no real sure fix” for the provincial government’s financial problems. But he did ...

Parchment in the Fire: Risk of global financial crash has increased, warns IMF | Business | The Guardian

Threat of instability and recession in emerging economies, and legacy of debt and disharmony in eurozone among ‘triad of risks’ outlined in stability report Source: Risk of global financial crash has increased, warns IMF | Business | The Guardian Filed under: Capitalism Tagged: Financial crisis

The Progressive Economics Forum: Inequality, the Financial Crisis and Stagnation: Competing Stories and Why They Matter

Inequality, the Financial Crisis and Stagnation: Competing Stories and Why They Matter Thomas Palley There exists several mainstream explanations of the financial crisis and stagnation, each explaianing the role they respectively attribute to income inequality. Those explanations contrast deeply with a structural Keynesian explanation of the crisis. The role of income inequality also differs substantially, ...

Parchment in the Fire: Iceland’s Supreme Court Upholds Jail Sentences of Four Banking Executives

Filed under: Capitalism, Crisis, Europe Tagged: Financial crisis, Iceland

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 light of recent ...

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.

Parchment in the Fire: Revealed: Bank of England disarray in the face of financial crisis | Business | The Guardian

Revealed: Bank of England disarray in the face of financial crisis | Business | The Guardian. The full extent of the Bank of England’s emergency action to prevent the collapse of the banking system is revealed on Wednesday as it releases previously secret documents detailing its frantic day to day efforts to prop up high ...

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 a pedagogical tool ...

The Sir Robert Bond Papers: Welcome to the bottom of the rabbit hole #nlpoli

Putting a freeze on any discretionary spending is the very least that the provincial government could do in light of the dramatic – but entirely predictable – volatility in oil prices that have made the government’s huge budget deficit even larger. The fact that Premier Paul Davis finally admitted on Thursday that oil prices are ...

The Progressive Economics Forum: Economics 101

On October 21, Chris Ragan wrote a column for the Globe and Mail titled “In defence of Economics 101.”  The link to his column is available here. On October 24, Marc Lavoie, Louis-Philippe Rochon and Mario Seccareccia replied to him.  The link to their response is available here.

The Progressive Economics Forum: What Have we Learned From the Financial Crisis? Part 4: Bernard Vallageas

What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 4 of 5 sequential blog entries. – Bernard Vallageas Vice-président de l’Association pour le Développement des Etudes Keynésiennes ...

The Progressive Economics Forum: What Have we Learned From the Financial Crisis? Part 3: Mario Seccareccia

What follows are comments from a roundtable discussion held at the University of Ottawa on January 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 3 of 3 consecutive blog entries. – Mario Seccareccia Professor of Economics, University of Ottawa ...

The Progressive Economics Forum: What Have we Learned From the Financial Crisis? Part 2: Louis-Philippe Rochon

What follows are comments from a roundtable discussion held at the University of Ottawa on January 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 2 of 3 consecutive blog entries. – Louis-Philippe Rochon Associate Professor of Economics, Laurentian University ...

The Progressive Economics Forum: What Have we Learned From the Financial Crisis? Part 1: Marc Lavoie

What follows are comments from a roundtable discussion held at the University of Ottawa on January 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. Parts 2 and 3 will follow in subsequent blog posts. – Marc Lavoie Professor of Economics, University of ...

Political Eh-conomy: Political Eh-conomy Radio: In and out of crisis with Sam Gindin

Today’s podcast is a feature interview with fellow political economist Sam Gindin. I interrogate Sam about the political economy of the present: the exit from the 2007 crisis, the role of states, austerity, the place of finance and the possibilities of resistance. Download: podcast-140314-sam-gindin.mp3 Sam Gindin is a left political economist with a long career. ...

The Progressive Economics Forum: What happened to the recovery?

(The following is slightly adapted from a short piece on page 3 in the new issue of  Economy at Work, the quarterly publication I produce for CUPE, which also covers a lot of other relevant issues.)   It’s been a little over four years since Canada’s economy bottomed out in mid 2009.  While we didn’t suffer as deep ...

The Progressive Economics Forum: Trickle Down Would Work If It Weren’t For The Sponges At The Top

This piece was first published in the Globe and Mail’s Economy Lab. Five years after a global economic crisis unleashed chaos on markets everywhere, income inequality has become an inescapable political and economic issue, in Canada as elsewhere. That’s because of mounting evidence that the increasingly skewed distribution of gains from economic growth slows future growth potential, ...

The Sir Robert Bond Papers: Taxing the Imagination #nlpoli

What is it about the provincial Conservatives and income tax? Kathy Dunderdale rabbited on about it last fall and again in January. Last week, the provincial Conservatives were at it again, with a private members resolution in the House that praised the government for cutting taxes and for not raising them now that they’ve fallen ...

The Sir Robert Bond Papers: Rentierism at the national and sub-national level #nlpoli

_______________________________________________ This is the third in a four part series on the current financial crisis the provincial government is facing.  The first instalment – “The origins of rentierism in Newfoundland and Labrador” – appeared on Tuesday and the second – “Other People’s Money”  – appeared on Wednesday. _______________________________________________ A rentier is a person who lives ...

The Sir Robert Bond Papers: Other People’s Money #nlpoli

_______________________________________________ This is the second in a four part series that offers an interpretation of the current financial crisis the provincial government is facing.  The first instalment – “The origins of rentierism in Newfoundland and Labrador” – appeared on Tuesday. ______________________________________________ As much as people imagine a great difference between the Confederate and anti-Confederate forces ...

The Sir Robert Bond Papers: The Origins of Rentierism in Newfoundland and Labrador #nlpoli

______________________________________________ Over the next four days, SRBP will offer an interpretation of the political underpinnings of the current financial crisis.  This series goes beyond the immediate to place recent events in both historical and comparative, international perspective.  The first two instalments briefly describe so9me characteristics of the political system and newfoundland political history before 1934 ...

The Sir Robert Bond Papers: Hobson’s Choice #nlpoli

The provincial Conservatives love to spend public money.  That doesn’t sound very conservative and it isn’t.  Politically, the provincial Conservatives in Newfoundland and Labrador are more like Republicans than the Progressive Conservatives who used to run the province in the 1980s. American Republicans like to cut federal taxes and jack up federal spending and then ...

The Sir Robert Bond Papers: The Wrong Tool #nlpoli

About two thirds of the people in the province who file tax returns earn less than $35,000 a year before taxes. It’s the kind of detail that you cannot banish from your mind when you read about the politically popular economist Wade Locke.  The guy who directly and indirectly helped the provincial government create the ...