Category Archives: full employment

The Owl of Minerva takes flight at dusk:The anti-Keynesian era is drawing to a close

Posted on May 2, 2013 by

The Owl of Minerva takes flight at dusk: The anti-Keynesian era is drawing to a close By Harold R. Chorney, Professor of political economy, Concordia university, Montreal.( I originally submitted this to the New York Times as an op ed … Continue reading →

Posted in austerity, business cycles, deficit hysteria, deficits and debt, European debt crisis, European unemployment, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, Italian debt crisis, J.M.Keynes, Keynesian multiplier, monetary policy, Uncategorized | Tagged , , | Leave a comment

Robert Mundell, Columbia University economist criticizes overvalued euro which promotes unemployment and urges QE

Posted on March 25, 2013 by

Robert Mundell, a Nobel prize winning Canadian economist at Columbia University and a specialist on trade,exchange rates and currencies has wisely critiqued the European central bank for allowing an overvalued exchange rate on the euro which has harmed growth in … Continue reading →

Posted in austerity, balance of payments, business cycles, classical economics, European debt crisis, European unemployment, free trade and globalization, full employment, quantitative easing, unemployment | Tagged , , , | 4 Comments

Europe still mired in austerity, slow growth and possible recession and excessive unemployment

Posted on February 12, 2013 by

The situation in Europe continues to be worrisome and exasperating. The stubborn ideologically driven opposition to stimulating the economy through major infrastructure and employment creating investments and a supportive low interest monetary policy including where appropriate quantitative easing is long … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, France politics+economy, full employment, J.M.Keynes, Keynesian multiplier, labour market clearing, monetary policy, quantitative easing, Spain, treasury view, U.K. economy, Uncategorized, unemployment | Tagged , , | 2 Comments

German American economist N.Johannsen and impair savings:important clue to current slow recovery

Posted on February 10, 2013 by

The German American amateur economist Nicholas Johannsen (1844-1928) published a work in 1908 entitled A Neglected Point in Connection with Crises in which he developed the notion of ”impair savings” He used this notion to point out that crises originated … Continue reading →

Posted in business cycles, classical economics, fiscal policy, full employment, J.M.Keynes, monetary policy, Uncategorized, unemployment | Tagged , , | 1 Comment

Canadian employment falls by 21,900 but headline unemployment rate falls to 7.0 %

Posted on February 8, 2013 by

Statistics Canada has released its latest Labour force survey for the month of January. It shows that unemployment has fallen to 7.0 % but there are 21,900 fewer people employed and the fall in the headline rate is due to … Continue reading →

Posted in Alberta, austerity, business cycles, Canada, fiscal policy, full employment, J.M.Keynes, labour market clearing, monetary policy, Québec, Uncategorized, unemployment | Tagged , , | 1 Comment

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

U.S. 4th quarter GDP shrinks by 0.1 percent: No time to cut spending

Posted on January 30, 2013 by

The news came as a surprise to many but the 4th quarter of 2012 experienced a slowdown in growth that resulted in a very marginal but nonethess a negative growth rate for the GDP. The source of the problem was … Continue reading →

Posted in austerity, business cycles, deficit hysteria, deficits and debt, fiscal policy, full employment, U.S., Uncategorized, unemployment | Tagged , , | 1 Comment

Boris Backs Britain Away From Austerity

Posted on January 25, 2013 by

The colourful Tory mayor of London, Boris Johnson has come out forcefully in opposition to the disasterous austerity policies that are at the centre of  Chancellor of the Exchequer George Osborne’s economic strategy. Following in the tradition of British Conservative … Continue reading →

Posted in austerity, business cycles, deficit hysteria, full employment, J.M.Keynes, progressives, U.K. economy, Uncategorized, unemployment | Tagged , , | Leave a comment

Keynes’s Fundamental Equations From The Treatise on Money

Posted on December 11, 2012 by

The symbols used in A Treatise on Money are somewhat different from the General Theory  and for those who are familiar with GT but not the Treatise are a little confusing at first. See both Keynes’s A Treatise on Money vol.1 ch.10 … Continue reading →

Posted in austerity, business cycles, classical economics, European unemployment, fiscal policy, full employment, J.M.Keynes, monetary policy, treasury view, U.K. economy, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment

US Unemployment Rate Falls to 7.7% from 7.9%:Positive trend continues

Posted on December 7, 2012 by

  The latest U.S. unemployment rate shows a continuation of the positive trend of lower unemployment and a gradually healing eeconomy. The headline rate for November 2012 dropped two tenths of a percentage point to 7.7 % from its October … Continue reading →

Posted in American Presidential election, business cycles, fiscal policy, full employment, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment