Category Archives: Federal Reserve

U.S. jobs report January 2013 unemployment 7.9% 157,000 jobs added:clear need for further fiscal stimulus

Posted on February 1, 2013 by

The U.S. Bureau of Labour Statistics has released the employment report for January . It shows that unemployment rose slightly to 7.9 %, 157,000 new jobs were added and there were significant upward revisions to employment numbers for last November … Continue reading →

Posted in austerity, business cycles, deficit hysteria, deficits and debt, Federal Reserve, fiscal policy, full employment, monetary policy, quantitative easing, U.S. | Tagged , , | Leave a comment

The fall economic conversation: Hayek versus Keynes, Romney versus Obama, whither the global business cycle ?

Posted on September 18, 2012 by

Now that relative calm has  returned to Québec after the provincial election we can focus our attention on the broader economic issues that beset the global economy. The American election although currently focused on foreign policy appears set to return … Continue reading →

Posted in austerity, business cycles, deficit hysteria, deficits and debt, European debt crisis, Federal Reserve, fiscal policy, free trade and globalization, full employment, Hayek, treasury view, U.K. economy, U.S., Uncategorized, unemployment | Leave a comment

Poli 610:Macro-economic theory and policy after Keynes and the crash of 2008

Posted on September 6, 2012 by

Pol. 610  Macro-economic policy-making after Keynes Concordia University fall, 2012 Prof. H. Chorney tel. 848 2424 ext.2106  e mail Chorney@alcor.concordia.ca Office hours tba This course is an intensive examination of macro-economic policy-making and macro-economic theory in the light of recent … Continue reading →

Posted in austerity, business cycles, Canada, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, Federal Reserve, fiscal policy, France politics+economy, free trade and globalization, full employment, Hayek, J.M.Keynes, Keynesian multiplier, labour market clearing, Milton Friedman and NAIRU, monetary policy, natural rate of inflation, quantitative easing, quantity theory of money, Schumpeter, U.K. economy, U.S., Uncategorized, unemployment | Leave a comment

Alvin Hansen, the right amount of money, deficit finance and the search for full employment.

Posted on June 1, 2012 by

Alvin  Hansen establishes early in his work, Monetary Theory and Fiscal policy that the power to create money is a force to be reckoned with. In the nineteenth century in the U.S.the private banks at the behest of their business … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, Federal Reserve, fiscal policy, full employment, monetary policy, quantitative easing, quantity theory of money, treasury view, U.S., Uncategorized | Tagged , , , , | 4 Comments

Monetary theory and fiscal policy:the insights of Alvin Hansen

Posted on May 22, 2012 by

One of the greatest interpreters of J.M.Keynes was the American economist Alvin Hansen whose A Guide to Keynes became a staple for beginning macro students during the 1950s and sixties. Hansen made several important errors of interpretation and the IS LM … Continue reading →

Posted in austerity, business cycles, classical economics, Federal Reserve, fiscal policy, full employment, J.M.Keynes, Milton Friedman and NAIRU, monetary policy, quantity theory of money, U.S., Uncategorized | 2 Comments

The Deficit:Hysteria and the Current Crisis

Posted on October 11, 2011 by

DeficitPapers-Chapter 2 – This essay  originally written in 1983-84 and the introduction to it (1992) was reprinted in my book with Phillip Hansen Toward a Humanist Political Economy published in 1992. I am including it here because it contains analysis … Continue reading →

Posted in austerity, business cycles, Canada, classical economics, deficit hysteria, deficits and debt, European debt crisis, Federal Reserve, fiscal policy, full employment, J.M.Keynes, monetary policy, quantitative easing, U.S., Uncategorized, unemployment | Leave a comment

The roots of the American Federal Reserve and the Progressive era:Useful history to guide us in the current crisis

Posted on September 4, 2011 by

Among the few 1000 books in my library is a blue covered paperback with a green and black business cycle imposed on it with a photo of President Woodrow Wilson in the last peak to trough. I bought this book … Continue reading →

Posted in Federal Reserve, progressives, U.S., unemployment | Leave a comment

After the Crash:Rediscovering Keynes and the origins of quantitative easing (2nd posting)

Posted on June 3, 2011 by

By Harold R.Chorney Professor of Political economy, Concordia University Montréal, Québec Preface: More than twenty five years ago I began to write about problems of public finance.( Chorney, 1984) At the time that I began to do so, I never … Continue reading →

Posted in austerity, business cycles, Canada, China and europe, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, Federal Reserve, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, Hayek, Italian debt crisis, J.M.Keynes, Japanese unemployment, Keynesian multiplier, monetary policy, quantitative easing, quantity theory of money, treasury view, U.K. economy, U.S., Uncategorized | Tagged , , | 3 Comments

I’m Back

Posted on March 12, 2011 by

Well its nice to be back on line after the hacker attack my e mail and blog suffered from last week. My blogspot site was attacked and although one can still visit it and view its contents I decided for … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, European debt crisis, Federal Reserve, fiscal policy, full employment, Greek sovereign debt crisis, Hayek, J.M.Keynes, Keynesian welfare state, labour market clearing, quantitative easing, quantity theory of money, treasury view, U.K. economy, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment