Author Archives: haroldchorneyeconomist

About haroldchorneyeconomist

I am Professor of political economy at Concordia university in Montréal, Québec, Canada. I received my B.A.Hons (econ.&poli sci) from the University of Manitoba. I also completed my M.A. degree in economics there. Went on to spend two years at the London School of Economics as a Ph.D. student in economics and then completed my Ph.D. in political economy at the University of Toronto. Was named a John W.Dafoe fellow, a CMHC fellow and a Canada Council fellow. I also was named a Woodrow Wilson fellow in 1968 after completing my first class honours undergraduate degree. Worked as an economist in the area of education, labour economics and as the senior economist with the Manitoba Housing and Renewal Corporation for the Government of Manitoba from 1972 to 1978. I also have worked as an economic consultant for MDT socio-economic consultants and have been consulted on urban planning, health policy, linguistic duality and public sector finance questions by the governments of Manitoba, Saskatchewan,the cities of Regina and Saskatoon, Ontario and the Federal government of Canada. I have also been consulted by senior leaders of the British Labour party, MPs from the Progressive Conservative party, the Liberal party and the New Democrats on economic policy questions. Members of the Government of France under the Presidency of Francois Mitterand discussed my work on public sector deficits. I have also run for elected office at the municipal level. I first began to write about quantitative easing as a useful policy option during the early 1980s.

The Federal Reserve‘s obsession with imminent inflation – for once I agree with President Trump

President Donald Trump has done and said many negative things in the policy realm that I strongly disagree with. But on the subject of the Fed policy of restoring higher interest rates because of the supposed threat of inflation,  I … Continue reading

Posted in Federal Reserve, monetary policy, natural rate of unemployment, treasury view, Uncategorized | Tagged , , | Leave a comment

CAQ Sweeps to Victory with an unexpected decisive large majority in Quebec election

Once again the polls were inaccurate. The vote for the CAQ was much larger than predicted, 1.4 million votes and 37.7 % of the vote while the Liberal vote collapsed to an historic low level of just over one million … Continue reading

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Quebec election English language debate no clear winner but debate is substantive , some sharp differences emerge.

The party leaders all acquitted themselves reasonably well given the challenge of debating in English the complex problems and challenges that Quebec faces.This was more difficult for Manon Massé,the representative of Quebec Solidaire and perhaps, also at times a bit … Continue reading

Posted in Montreal politics, Québec, Québec election, Uncategorized | Tagged | Leave a comment

The Notwithstanding clause comes back to haunt us just as Pierre Trudeau warned it would. Ontario Premier Ford says he intends to use it to overcome a Superior court decision declaring his restructuring of Toronto city council in the midst of an election violates the charter of rights.

The increasingly clear indication from Ontario’s new right wing government is that it leans in. a very partisan disruptive direction and shows little respect for democratic rights and freedoms. It is nothing less than demagogic to argue the government is … Continue reading

Posted in Canada, civil liberties, Doug Ford and authoritarian politics, Ontario elections, Uncategorized | Tagged , | Leave a comment

Long term consequences of a lopsided trade deal need to be carefully evaluated

It s now more than thirty years ago on October 4th 1987 that Canada ,under the direction of the then Conservative prime minister Brian Mulroney , agreed to a free trade agreement with the United States. In doing so it … Continue reading

Posted in Canada, Free trade and Canadian history, NAFTA negotiations, U.S., Uncategorized | Leave a comment

Energy price rises due to tax increases, tariffs and price distorting power of oil cartel not a measure of true inflation

A number of Canadian analysts have responded to the news that Canadian “inflation” has risen to 2.5 % a level above the Bank of Canada’s target rate of 2 % as a justification for arguing that the central bank ought … Continue reading

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Bank of Canada Raises interest rates again : No sign of inflation and danger of trade war slowing growth Underestimated in its Decision

Once again the central bank operating as it does with a Friedman based Nairu perspective with respect to inflation has mistakenly raised the overnight lending rate. This is an inappropriate response to the emerging trade war and likely recession promoting … Continue reading

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