This is a guest blog post from Mario Seccareccia, Professor of Economics, University of Ottawa.
Since the October 2008 federal election, Canadian politicians have been struggling to come to terms with what to all accounts has turned out to be a “lite” version of the 1930s, whose major difference is that today we have . . . → Read More: The Progressive Economics Forum: Missing in (debate) action: macroeconomic lessons from the Great Depression
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
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 Bank of Canada surprised most analysts this week when it decided to cut rates by 25 basis points. The move comes after the price of oil has tumbled below $50 / barrel, oil producers announced huge cuts to business investment for 2015, Target announced a mass layoff of 17,600 workers in Canada, and the . . . → Read More: The Progressive Economics Forum: Banks and Balanced Budgets
(The following is something I’ve prepared for the next issue of CUPE’s Economy at Work, a popular economics quarterly publication I produce.)
In his annual Economic and Fiscal Update (EFU), finance minister Joe Oliver told Canadians that while the federal government will finally record a surplus next year after seven years of deficits, we can’t . . . → Read More: The Progressive Economics Forum: Why the economy sucks (in one chart)
A guest blog post from Louis-Philippe Rochon:
Dear friends and colleagues,
The new issue of the Review of Keynesian Economics (ROKE) is now out, and you can find it here. It features an interesting symposium on ‘Steve Keen and his critics’, and contains not only a paper by Steve Keen, but replies by Marc Lavoie, . . . → Read More: The Progressive Economics Forum: New Issue of Review of Keynesian Economics
A new issue of the Review of Keynesian Economics is now out, and you can find it here. It features a symposium on ‘Steve Keen and his critics’, a paper by Steve Keen, and replies by Marc Lavoie, Tom Palley, and Brett Fiebiger. The Keen and Lavoie papers are available free for downloading. Here is . . . → Read More: The Progressive Economics Forum: New Issue of Review of Keynesian Economics
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
This comic does in one cartoon what the first chapter of Debt, the First 5000 Years does (pretty well) in one chapter. Alltop is a macro-humor generator.
As I discussed in an earlier post, Niall Ferguson, the Harvard historian and author of numerous bad books about economics, is prone to writing and saying completely ignorant things, making one wonder about the intellectual heft of so-called academic “stars” who populate our institutions of higher learning.
The latest bit of idiocy uttered by Ferguson . . . → Read More: The Progressive Economics Forum: Niall Ferguson’s Latest Idiocy
1. He’s Number Two: Stephen Poloz was widely acknowledged in economic and political circles as the second-best choice for the top job at the Bank of Canada. So the surprise was not that he was chosen. The surprise was, Why Not Tiff Macklem? Will someone please find out and tell the rest of us?
. . . → Read More: The Progressive Economics Forum: Polozogistics: Nine Thoughts About the Choice of the New Bank of Canada Governor
In a guest post at the Broadbent Institute, I flesh out some of the impacts of EI changes with three (fairly typical) hypothetical stories of unemployed Canadians. There are certainly more extreme consequences felt by some already. At least these folks have access to the Board of Referees. Many fear that access to natural justice . . . → Read More: The Progressive Economics Forum: Getting the Facts Straight on EI Changes
Today the CCPA released a new big picture report by myself and student researcher Amanda Card calling for a Green Industrial Revolution. The report builds on work done for the BC-focused Climate Justice Project, bringing to bear a national analysis of green and not-so-green jobs. We take a close look at GHG emissions and employment . . . → Read More: The Progressive Economics Forum: A Green Industrial Revolution
Take a look at the picture below. Take it in. Now scan your eyes to the far right…there, in faded blue you’ll see the initials MMT. Now zoom out. Take it in again. Notice: a few hundred people. Spending their time learning about an economic theory called Modern Monetary Theory or MMT and its application . . . → Read More: The Progressive Economics Forum: The Times they Are a Changing: The MMT Wave Begins
RT interviews James Howard Kunstler on a range of topics including the current state of the global economy, the de-legitimization of the U.S. political system, and, of course, his thoughts about the OCW movement. At the outset, Kunstler makes a … Continue reading → . . . → Read More: Red Tory v.3.0.3: Kunstler on the Political Economy
I was sorry to miss a celebration of the life and work of Ian Stewart organized by the Centre for the Study of Living Standards last Friday night. Ian was a former senior economic official back in the now distant days of Keynesian dominance, including a stint as Deputy Minister of Finance which will be […] . . . → Read More: The Progressive Economics Forum: Fighting Unemployment
The federal government has launched consultations on EI premium setting. This provides the opportunity to shift from a very ad hoc system to one that is more fair to workers, and more economically rational. The current worker premium is $1.78 per $100 of insured earnings and the employer premium is $2.49 per $100, adding to […] . . . → Read More: The Progressive Economics Forum: The Macro-Economics of Financing Employment Insurance
But Wall Streeters have been making so much money trading worthless pieces of shit back and forth to each other, over the last couple of decades, that they haven’t a notion about how a real capitalist economy works. They saw what was going on in Washi… . . . → Read More: They Call Me “Mr. Sinister”: It Isn’t That They Are Stupid Exactly
Down south, the Obama administration is in a dangerous game of chicken with Republican congressional leaders, who are cynically holding the US economy hostage in order to impose a radical agenda of spending cuts. Obama has seemingly bought into the rhetoric of cutting debt, rather than focusing on the real US problem of unemployment. Yet, […] . . . → Read More: The Progressive Economics Forum: Navigating challenging economic waters