We are pleased to present this rich guest post by a new PEF member, Edgardo Sepulveda. Edgardo has been a consulting economist for more than two decades advising Governments and operators in more than 40 countries on telecommunications policy and regulation matters (www.esepulveda.com). Redistribution, Inequality and the new Federal Tax & Transfer initiatives I want […] . . . → Read More: The Progressive Economics Forum: Redistribution, Inequality, and Federal Policy: Guest Post by Edgardo Sepulveda
We’re coming up to a Federal Election, and one where “The Economy” will likely be a central battlefield. As such, we’re going to hear many claims and counter-claims that support the view that Stephen Harper is either the Greatest or Worst Prime Minister ever.
One point of contention is wages. Part of the problem are . . . → Read More: The Progressive Economics Forum: Wages: Up, Down, or Sideways?
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, . . . → Read More: The Progressive Economics Forum: Inequality, the Financial Crisis and Stagnation: Competing Stories and Why They Matter
The Harper government gives five reasons why Canadians ought to be happy with its proposal to double the maximum contribution to the Tax-Free Savings Account. Examine each of its points more closely, however, and it’s clear that the TFSA carries far higher risks than rewards — for individual Canadians as well as for the economy . . . → Read More: The Progressive Economics Forum: Doubling Contributions To The Tax Free Savings Account: Even Nastier Than Income Splitting
This piece was originally published at the Globe and Mail’s online Report on Business feature, EconomyLab.
There are two reasons why it is difficult to comment on the legacy of a finance minister.
1) It is a tremendously challenging job, anywhere, any time. Stewarding one of the largest economies in the world through a . . . → Read More: The Progressive Economics Forum: Flaherty’s Legacy: Ideological, reckless and just plain lucky
Yesterday I tweeted this:
Gap will raise minimum hourly pay
Walmart “looking” at support of min wage raise
In honour of the momentum, I am posting the piece I wrote for Economy Lab a while back, and including the numbers that drive the chart that attracted quite a lot of attention.
There . . . → Read More: The Progressive Economics Forum: Why the Minimum Wage Debate Isn’t Going to Go Away
Yesterday’s release from Statistics Canada on the income share of the wealthy generated some interesting coverage and commentary. It reported that the top 1%’s share of total income in Canada remained steady that year in Canada, at 10.6 percent — but still significantly higher than in the 1980s.
Most observers did not mention, however, that . . . → Read More: The Progressive Economics Forum: Capital Gains and the Incomes of the Wealthy
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 . . . → Read More: The Progressive Economics Forum: Trickle Down Would Work If It Weren’t For The Sponges At The Top
This piece was published today in the Globe and Mail’s Economy Lab.
Two findings stand out in the National Household Survey (NHS) data released Wednesday, both critical in this post-recession era of uncertainty:
1) A quarter of Canadian households spent 30 per cent or more of their pre-tax income on shelter, the official measure . . . → Read More: The Progressive Economics Forum: When Good Data Goes Bad: The NHS2011
The news of UBC Sauder Business School students chanting about rape of underage girls during a FROSH week event has generated much outrage. As it should.
While the chant might seem like an isolated incident, it is not. The recent rape chant scandals in UBC and in St Mary’s University in Halifax are evidence of . . . → Read More: The Progressive Economics Forum: What UBC and SMU’s rape chant scandals say about women in the Canadian economy
It has recently been reported that the University of Alberta wants to “reopen two-year collective agreements” with faculty and staff “to help the university balance its budget…”
This appears to be in direct response to Alberta’s provincial government announcing in its March budget that there would be a “7% cut to operating grants to universities, . . . → Read More: The Progressive Economics Forum: Funding Cuts to Alberta’s PSE Sector: There Are Alternatives
On Monday, Andrew wrote that we need a Bay Street sunshine list. Today, we got something almost as good: a Fraser Institute sunshine list, courtesy of US tax filings and The Ottawa Citizen’s Glen McGregor.
This piece is a great counterpoint to the Fraser Institute’s recent attack on public-sector salaries. I hope it is printed . . . → Read More: The Progressive Economics Forum: Fraser Institute Sunshine List
Last week’s publication of the so-called “sunshine” list of 88,412 Ontario public sector workers earning more than $100,000 per year elicited lots of howls of outrage in terms of on line commentary.
It should not be forgotten that the whole point of the annual list – which dates back to the Harris days – . . . → Read More: The Progressive Economics Forum: Who Is Earning Too Much?
I have a commentary posted on the Broadbent Institute web site, arguing that inequality of wealth fundamentally undermines the argument that market rewards are “fair.”
(Originally written March 7, 2012. Part of Great Upload of 2013.)
A colleague once showed me a book by Peter Schiff, in which the author and investment-house CEO purported to explain how the US got into the muddle they’re in.
Like so many textbooks I left it unread, but according to Wikipedia, Schiff believes a . . . → Read More: Eclectic Lip: Sniffs from a Schiff…
This article was published in an abridged form today in the National Post. http://fullcomment.nationalpost.com/2012/12/21/armine-yalnizyan-sorry-andrew-coyne-but-income-inequality-is-a-real-problem/ I like this opening better so I posted it here.
You couldn’t have made it through 2012 without running into a story about income inequality. Chances are, it made you think about how you fit into the story. That’s “entirely constructive”, . . . → Read More: The Progressive Economics Forum: Why The Income Inequality Deniers Are Wrong
This September, like every year, a new group of high school graduates headed to college or university to pursue higher education. But today’s generation of students is in for a very different experience from the ones their parents had.
On campuses across the country shiny new buildings are popping up, bearing corporate logos or the . . . → Read More: The Progressive Economics Forum: Time to Rethink The Way We Fund Higher Education
Armine Yalnizyan had a great twitter debate with Andrew Coyne on poverty and inequality, that Trish Hennessey storified here: http://bit.ly/QwHGJB
I think it bears repeating that GDP growth has far outpaced any growth in median and average incomes for Canadians, as you can see in the graph below. (2010 dollars, average and median income in . . . → Read More: The Progressive Economics Forum: Income Inequality & twitter
Kudos to Bank of Canada Governor Mark Carney for raising the profile of the over $500 billion Canadian corporations are holding in excess cash surpluses and not investing in the economy, which garnered front page coverage (and kudos to the CAW for inviting him to speak.)
It’s not the first time he’s raised this concern. . . . → Read More: The Progressive Economics Forum: Dead Money
The just-released OECD Employment Outlook – full text not available on line – has an interesting chapter on the sharp decline of labour’s share of national income in virtually all OECD countries over the past 30 years, and especially the last twenty years.
The median labour share in the OECD fell from 66.1% in the . . . → Read More: The Progressive Economics Forum: Labour Losing to Capital
Another sad tombstone to the shrinkage of information for informed social and economic policy – Statscan has decided to discontinue “Perspectives on Labour and Income” in both print and online format.
For as long as I can remember, Perspectives reliably provided a firm empirical base for policy debate on key labour market and income issues . . . → Read More: The Progressive Economics Forum: In Memoriam: Perspectives on Labour and Income
Today’s Statscan release of income data for 2010 allow for a backward glance at the state of the recovery.
What is most striking is that – following two years of flat income growth in 2008 and 2009 – there was no meaningful economic recovery for most Canadians in 2010. Median earnings (half earned more, half . . . → Read More: The Progressive Economics Forum: Incomes Flat in “Recovery Year” of 2010