Monthly Archives: August 2011

The misguided recrudescence of classical economic orthodoxy and the ” Treasury view “

Much is being made of the supposed benefits of medium term deficit reduction through austerity as a reassurance to the private sector to enable them to feel confident enough to spend their several trillion dollar hoard on investing and creating … Continue reading

Posted in austerity, business cycles, classical economics, deficits and debt, fiscal policy, J.M.Keynes, treasury view, Uncategorized, unemployment | Tagged | Leave a comment

Poli 363 Fall, 2011

Poli 363 fall 2011 Poli 363 Fall 2011 . Course outline Canadian Public Policy :Eight Policy Problems Professor Harold Chorney “In the event of extraordinary circumstances beyond the University’s control, the content and/or evaluation scheme in this course is subject … Continue reading

Posted in austerity, business cycles, Canada, deficits and debt, fiscal policy, free trade and globalization, Health care, J.M.Keynes, Japanese unemployment, U.S., unemployment | Leave a comment

Poli 610 Fall term 2011

Poli 610 2011 fall term Pol. 610  Macro-economic policy-making after Keynes Concordia University fall, 2011 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 … Continue reading

Posted in austerity, business cycles, Canada, deficits and debt, fiscal policy, J.M.Keynes, U.S., Uncategorized, unemployment | Tagged | Leave a comment

One person’s expenditure is another person’s income

John Maynard Keynes often stressed the importance of investment and consumption in stimulating an economy to produce an appropriate supply of jobs. He also less frequently explained how austerity as a policy followed by governments could be very damaging to … Continue reading

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Japan’s rate of unemployment lower than conventional wisdom

Much is being made these days of the possibility that Europe and the U.S. are going the way of Japan in terms of the risks of deflation and the freezing up of the financial sector complete with zombie banks. But … Continue reading

Posted in deficits and debt, fiscal policy, Japanese unemployment, U.S., Uncategorized, unemployment | Leave a comment

Stock market roller coaster continues:panic selling on gloomy headlines and iffy logic

The Dow-Jones industrial average fell by just under 420 points reversing gains made over the past few days of trading apparently driven by negative headlines in the U.S. and Europe about unexpected weakness in the monthly manufacturing survey conducted by … Continue reading

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Dubious downgrade has consequences: Balance sheet recession requires fiscal stimulus and monetary accomodation

Crises always teach participants important lessons. The key lesson from this avoidable crisis in the stock market is the urgent need to reform the rating agencies to ensure they actually understand something about the modern global economy and the history … Continue reading

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