Author Archives: haroldchorneyeconomist

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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.

Liberals win unexpected solid majority in Canadian election: 184 seats to 99 for Harper Conservatives , 44 for Mulcair’s New Democrats , to 10 for Duceppe’s Bloc québécois with 1 for May’s Greens.

The Canadian election delivered a stunning majority Liberal Government much to the surprise of many Canadian pollsters and pundits. There were two final polls conducted on the Sunday before the election which accurately predicted the vote split among the top … Continue reading

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If the Canadian election delivers a minority government parties need to consider a post election strategy in terms of forming a government no matter who captures the largest number of seats well short of a majority.

The Canadian election appears to be a very close race with no party appearing to have an overwhelming lead. Both the leader of the New Democrats and the leader of the Liberals have made it clear they will not support … Continue reading

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Further notes on inflation and the quantity theory of money

A theory of inflation (originally posted on my earlier blogspot blog Sept 19, 2010) Throughout the history of monetary theory the subject of inflation and the role of the money stock has loomed large. One can go back to Copernicus … Continue reading

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Some technical notes on aggregate demand and Keynes versus the monetarists:a helpful guide for my students

The equation for aggregate demand in the Keynesian system is as follows: C + I +(G-T) +(X-M) = D (Aggregate demand).C is consumption,I is investment, G is government expenditures, T is taxes, X is exports, and M is imports. Note that … Continue reading

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Monthly GDP grows but much of the growth paradoxically is in the oil, mining, quarrying and natural gas sector. Outside of the sector growth is very limited.

Stats Canada has released the July monthly growth figures. They show an overall growth rate of 0.3 %.positive for the second straight month. But it is odd that much of the growth occurred in the oil and gas, mining and … Continue reading

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Greek elections: Syriza wins again but no longer a radical force for anti austerity

The latest on line results for the Greek election has Syriza ahead with 1.167 million votes. With 63% of the votes counted shows the formerly anti austerity party Syriza once again winning the largest number of votes, 34.5% and 144 … Continue reading

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Department of Finance Annual Financial Report, high employment deficits and the state of the Canadian economy

This week the media was filled with exclamation marks about the fact that the Department of Finance in its Annual financial Report reported a budgetary surplus of $ 1.9 billion rather than the budgeted deficit that had been expected for … Continue reading

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Poli 463, 2015 course outline: Keynes versus monetarists before and after the crash of 2008.

Poli 463/2 Government and Business course outline : Keynes versus monetarists before and after the crash of 2008 Prof.Harold Chorney Fall/ 2015 Course overview: This course explores the tools that are necessary to deal with the contemporary global economy and … Continue reading

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Poli 204/2 2015 Introduction to Canadian Politics course outline

Poli 204/2 2015 Introduction to Canadian Politics Professor Harold Chorney Course outline H531 Tuesday 2:45 to 5:30 pm Office hours 3:30-5 pm on Thursdays other hours tba. The study of Canadian politics is a complex field which draws upon a … Continue reading

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Unemployment rate rises to 7.0 % as more people join the labour market in search of work.

The August job numbers are out. Statistics Canada reports that 54,000 full time new jobs were added but they were largely matched by a loss of 42,000 part time jobs. The net result was to bump up the national unemployment … Continue reading

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