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.

Canada in recession first six months 2015.Decline was widespread affecting manufacturing, housing and business fixed capital formation.June results are positive.

Statistics Canada has confirmed what many analysts had suspected that Canada suffered from recession in the first six months of 2015. The decline in growth was widespread with manufacturing , business fixed  capital investment and new housing construction as well … Continue reading

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Liberals propose progressive major investments in infrastructure financed by appropriate temporary deficit spending

Finally there has been an important Keynesian proposal that breaks with the  obsessive misguided fiscal orthodoxy of the other two leading parties in Canada’s federal election.Both the Conservatives and the NDP insist they will not in any circumstances run deficits … Continue reading

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Stock market turbulence and financial instability once more in play: Irrational behaviour at the core

As party leaders in Canada fall over themselves to pledge their fiscal conservatism, with the possible exception in certain respects of Liberal leader Justin Trudeau global markets have gone through a crushing drop of 1000 points in the Dow on … Continue reading

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Who pays the corporate income tax ? Shareholders or Workers ?

One of the hot topics sure to come up during the election campaign and the debates is the issue of taxation. The two opposition parties both are proposing increases in taxation .But their plans differ. The Liberals want to increase … Continue reading

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Canadian election underway:Close race according to polls; deficit hysteria plagues all three of the major parties

Conservative Prime Minister Stephen Harper visited the Governor General on Sunday requesting Parliament be dissolved and a general election called for Oct 19. This unleashed what will be a 78 day campaign the longest in history since the nineteenth century. … Continue reading

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High employment deficit or surplus key to understanding how deficit finance can work to promote growth and lower unemployment: How to escape deficit hysteria .

The orthodox dogma about deficits is that they are “always very bad witness Greece”. This is the claim of the austerity obsessed fiscal conservatives. But what a lot of the advocates of this position seem to ignore is that this … Continue reading

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The new imperial order in Europe: financial gunboat diplomacy and the decline of European civilization

The diktat imposed by Germany and its neo-con vassal states upon Greece in these recent hours conjures up correctly I think the days of imperial excesses in Asia in the nineteenth and twentieth century by the western powers where servitude … Continue reading

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The Terrible Return of Financial Authoritarianism:US and Canada have a role to play in Overcoming It.

It may well be that a third “bailout” pact will be successfully negotiated over the weekend with Berlin and the European conservatives as usual calling the shots forcing the Syriza Government to discredit itself in the eyes of its voters … Continue reading

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The founding of the United States, the emergence of its currency and lessons for the Greek crisis.

Many people are unaware of the monetary and currency roots of the American Revolution. Most know about the revolt over unfair taxation without representation that inspired the American tea party incident in Boston harbour. But the revolt was also about … Continue reading

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Greek government puts EU final offer to referendum test: Unclear if it will pass but democratic option commendable

The Greek government led by Alexis Tsipras and the Syriza party has turned the tables on the austerity obsessed European union. I t has announced a referendum on the final offer presented to it by the EU, the ECB and … Continue reading

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