Category Archives: U.K. economy

The end of an era ? Margaret Thatcher passes away A controversial but also creative force in British politics is gone.

Posted on April 9, 2013 by

Margaret Thatcher, an elemental force of great magnetism but also great negative consequences, has passed away. She enters history as an extraordinary politician and certainly one of the great figures on the Tory side of British politics. From my liberal … Continue reading →

Posted in austerity, Hayek, J.M.Keynes, Keynesian welfare state, U.K. economy | Tagged , , | Leave a comment

Unemployment in Europe averages 12 % as of February 2013

Posted on April 2, 2013 by

The bitter fruits of austerity are on display in the latest unemployment report from Eurostat. Overall there are 26 million people out of work in Europe. unemployment averages 12 %. It is 10.8 % in France,7.7 % in the U.K., … Continue reading →

Posted in austerity, business cycles, deficit hysteria, European debt crisis, European unemployment, fiscal policy, France politics+economy, monetary policy, Spain, U.K. economy, Uncategorized, unemployment | Tagged , , | Leave a comment

Sequester underway in U.S. Cracks appear in British austerity wall.

Posted on March 7, 2013 by

We will soon be a full week into the foolish sequester experience in the U.S. So far it is way too soon to assess the damage to the growth rate and the slowdown in employment that cutting the first 100 … Continue reading →

Posted in austerity, deficit hysteria, monetary policy, treasury view, U.K. economy, Uncategorized | Tagged , , | Leave a comment

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

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

Hoarding, speculation and the problem of unemployment

Posted on December 1, 2012 by

The classical school of economics always argued that wages would adjust to clear gluts of unemployed workers over a reasonably short period of time and that cash would not be hoarded but used to purchase bonds or otherwise spent on … Continue reading →

Posted in business cycles, classical economics, deficit hysteria, European unemployment, free trade and globalization, Greek sovereign debt crisis, monetary policy, treasury view, U.K. economy, Uncategorized, unemployment | Tagged , , | Leave a comment

Mark Carney chosen to head the Bank of England: Bold Decision Big Challenges Ahead

Posted on November 26, 2012 by

The Decision of the British government to appoint the Canadian central banker Mark Carney as the new Governor of the Bank of England , the crown jewel of central banks, is a bold decision by Chancellor George Osborne and PM … Continue reading →

Posted in austerity, Canada, European debt crisis, European unemployment, fiscal policy, monetary policy, quantitative easing, treasury view, U.K. economy, Uncategorized, unemployment | 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