Assorted content to end your week.- Larry Elliott writes that the OECD is calling on its member states – including Canada – to stop pushing destructive austerity and instead focus on needed public investments. – Ian Welsh points out the problems with m… . . . → Read More: Accidental Deliberations: Friday Morning Links
Assorted content to end your week.- Tom Bawden notes that inequality is as much a problem in our relative contribution to climate change as it is in so many other areas of life. And Steven Rosenfeld lists some of the ways in which the increasingly-weal… . . . → Read More: Accidental Deliberations: Friday Morning Links
This and that for your Tuesday reading.
– Daria Ukhova summarizes the OECD’s findings on the links between inequality, poverty and the economy: Inequality, economic growth, and poverty. In the new report, the OECD has tried to establish the links between these three phenomena, which so far have been mostly explored in pairs, as the . . . → Read More: Accidental Deliberations: Tuesday Morning Links
Here, on the OECD’s working paper showing that stronger environmental policies are entirely consistent with a more productive economy.
For further reading…– Obviously, the area where the need for more stringent regulation is most obvious lies in our CO2 emissions. On that front, CBC reports on Christopher McGlade and Paul Elkins’ study showing how . . . → Read More: Accidental Deliberations: New column day
This and that for your Tuesday reading.
– Sam Pizzigati interviews Richard Wilkinson and Kate Pickett about the fight against inequality and the next piece of the puzzle to be put in place: [Pickett:]…In The Spirit Level, we have all these correlations between inequality and social problems, and we have theories and hypotheses about what . . . → Read More: Accidental Deliberations: Tuesday Morning Links
This and that for your Tuesday reading.
– The OECD reports on the relationship between equality and growth, and concludes that rising inequality is as toxic for economic development as it is for our social fabric. And David Rider discusses how increasing inequality is manifesting itself in several Toronto neighbourhoods.
– Meanwhile, Daniel Tancer . . . → Read More: Accidental Deliberations: Tuesday Morning Links
Revealed: how the wealth gap holds back economic growth | Business | The Guardian.
The west’s leading economic thinktank on Tuesday dismissed the concept of trickle-down economics as it found that the UK economy would have been more than 20% bigger had the gap between rich and poor not widened since the 1980s.
Publishing its . . . → Read More: Parchment in the Fire: Revealed: how the wealth gap holds back economic growth | Business | The Guardian
Assorted content for your weekend reading.
– Andrew Jackson reviews the OECD’s economic recommendations for Canada – featuring a much-needed call for fair taxes on stock options: Special tax breaks for stock options primarily benefit senior corporate executives, especially CEOs of large public companies who are commonly given the right to buy shares in the . . . → Read More: Accidental Deliberations: Saturday Morning Links
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
The organization representing the industrialized, First World, isn’t pulling any punches on climate change. OECD Secretary-General, Angel Gurria, maintains we need to decarbonize by mid-century.
“We need to achieve zero emissions from fossil-fuel sources by the second half of the century,” Gurria told reporters at a briefing in London. “That doesn’t mean by 2050 . . . → Read More: The Disaffected Lib: OECD – We Need a "Big, Fat Price on Carbon"
Assorted content to end your Family Day.
– Gerald Caplan comments that it’s long past time to put the Senate out of its misery: Who knew that when well-known Canadians in 2011 begged old acquaintances now turned Conservative Senators to back a bill for cheap generic AIDS drugs for Africa, the senators would follow party . . . → Read More: Accidental Deliberations: Monday Afternoon Links
It is the fashion among our corporate overlords and their rabid right-wing courtesans to utter a trite phrase that, because it is repeated so frequently, is taken as truth by many: We don’t have a revenue problem, we have a spending problem. Like the magician who relies upon misdirection to perform the seemingly . . . → Read More: Politics and its Discontents: On Corporate Propaganda and Tax Avoidance
In 2006 Canada was spending 2% of its Gross Domestic Product on R&D. In 2012 it will spend just 1.69%.
While a large portion of the decline is due to the business sector spending less on R&D, the current Conservative government has responded by cutting its own share of spending while also reducing incentives . . . → Read More: The Scott Ross: Canada Is R&D-ing A Decline, With Graphs
It’s odd that Conservatives advocate competition in the economy when under this Conservative government our economy has only become less competitive.
The World Economic Forum (WEF) has recently lowered Canada’s ranking in global economic competitiveness from 12th last year to 14th place in 2012. This has been part of a steady decline since 2009 . . . → Read More: The Scott Ross: A Conservative Canada Is An Uncompetitive One
Though many would say that fiscal deficits from this Conservative government are the most worrying, their lack of economic knowledge is far more dangerous. Before showing the economic ignorance of Conservative MP Pierre Poilievre a quick introduction… . . . → Read More: The Scott Ross: Conservative Fiscal Deficits & Ignorant Surpluses
Sept 2012: Unemployment is up at 7.4%; it has been increasing since June while American unemployment has only gone down.
July 2012: Worst trade deficit ever in Canadian history at $2.3 billion.
2012: GDP growth rate is declining (PDF pg 22). Canada is no longer the fastest growing economy in the G7; it is now . . . → Read More: The Scott Ross: The Conservative Economic Record
Yesterday, Mike Moffatt took to The Globe and Mail’s “Economy Lab” in response to my suggestion that the Bank of Canada should moderate the exchange rate. (Perhaps his motive for encouraging me to seek the Saskatchewan NDP leadership was to get me as far as possible from the levers of monetary policy.)
My rebuttal . . . → Read More: The Progressive Economics Forum: Broadening the Bank of Canada’s Mandate
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
Last week, Conservative MP Randy Hoback had another letter in The Prince Albert Daily Herald blaming the NDP for the pulp-mill closure in 2006. He still has not addressed my main point about resource royalties. I have the following response on page 4 of today’s Herald:
Pulp mill saga proves Mulcair’s point
Notwithstanding MP Randy . . . → Read More: The Progressive Economics Forum: Randy Hoback’s Pulp Fiction
Further to my earlier post on the OECD and “Dutch Disease”, I have received a heavily redacted response to an access to information request (A-2012-00073/CN.) submitted to the Department of Finance, seeking any comments on the draft assessment and recommendations of the OECD delegation to Canada in 2012.
This arrives just as Conservative ads attack . . . → Read More: The Progressive Economics Forum: More on the OECD and Dutch Disease
Today’s report that the national inflation rate fell to 1.2% in May deflates calls for higher interest rates to reduce inflation. The central bank’s core rate was 1.8%, also below the 2% target.
The other argument for an interest-rate hike was to moderate mortgage lending and the housing market. However, the federal government’s move to . . . → Read More: The Progressive Economics Forum: CPI Deflates Case for Rate Hike
OECD economist Peter Jarrett – lead on the just released Economic Survey of Canada – agrees with the Mulcair diagnosis.
This and that for your Thursday reading.
– The OECD is the latest independent observer to confirm Thomas Mulcair’s point that dutch disease is a real problem for Canadian manufacturing. And Marc Lee calls for a green industrial revolution as a better path toward economic development and environmental responsibility than the Cons’ focus on resource . . . → Read More: Accidental Deliberations: Thursday Morning Links