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.

Esoteric derivatives contribute to chaos on markets

The explosive growth of derivative products has played a role in increasing and spreading market irrationality and a movement away from fundamentals in influencing stock market traders. During the period 2000 to the collapse in 2007 -09 this explosion of … Continue reading

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Irrational fears once again drive markets down excessively

Once again the irrational fundamentals on which the stock market is based have come to the surface with today ‘s over 4 % fall so far in the value of the Dow Jones index.At one point the market was down … Continue reading

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Poli 489 2018 course outline Advanced seminar on inequality Prof. Harold Chorney

Poli 489 Course outline (under construction) Professor Harold Chorney Wed. H633-1 18:00- 20:15 The real estate bubble and the crash of 2007 -09 uncovered serious strains in the economic and social fabric of global capitalism. The recovery from what turned … Continue reading

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Montreal elects environmentalist and left of centre Valerie Plante as its next mayor

Montreal where I have lived ever since 1982 when I moved here from Toronto has once again turned to the left and to bicycle riding environmentalists and community activists for its new mayor and governing party. The election turnout was … Continue reading

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President Trump selects Jerome Powell as new Fed chair replacing Janet Yellen

In what may well turn out to be a controversial decision President Trump has broken with precedent and decided not to reappoint Janet Yellen to a second term as Fed chair despite praising her for her excellent work as chair. … Continue reading

Posted in Federal Reserve, full employment, Keynesian policy, quantitative easing, U.S., urban culture | Leave a comment

Fed and Bank of Canada hold back on rate rises: Stimulus continues Smart decisions

Recently both the Federal Reserve  and the Bank of Canada made smart decisions not to increase rates despite pressure from some less well informed quarters that they should do so as believers in the NAIRU rate are still convinced that … Continue reading

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The JFK docs: Canada Cuba and the U.S.

The recent release of previously secret archival files in the JFK archive has come at a very busy time in American and world news. The release is a massive one which will take some time to absorb and analyze. So … Continue reading

Posted in Canada, Cuba and Latin america, JFK docs, Cuba,Canada, John Diefenbaker and JFK, U.S. | Leave a comment