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.

Good news:Unemployment falls to 6.5 % in Canada,5.8% in United States

The U.S. Bureau of Statistics and Statistics Canada released the unemployment numbers and their respective monthly labour force surveys this morning and the results are good. Its a pity the American electorate didn’t see the numbers before the mid term … Continue reading

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Japan increases its use of Quantitative Easing in effort to overcome deflation:stocks rise in response,Keynes on front cover of Business Week

The Governor of the Bank of Japan(BOJ) several days ago announced that the Bank would greatly increase its purchase of government debt financing bonds and expand its asset base and thereby its monetary base in a major effort to reverse … Continue reading

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The technique of deficit finance and the multiplier reviewed

I am republishing below a post I wrote trying to explain the multiplier as an effective policy tool embedded in Keynesian deficit finance. It first appeared in my older blog on blogspot Harold Chorney political economist in the middle of … Continue reading

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Monetized government Debt as a percentage of the broadly defined money supply and the rate of inflation Canada 1950 to 1989

I am reproducing the following table of data because of its importance in showing that there is no necessary correlation between the percentage of debt that is monetized as a proportion of the broadly defined money stock and the rate … Continue reading

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Even IMF believes in debt financed public infrastructure: at current low interest rates multiplier may be 3

According to a commentary by Larry Summers in today’s Financial Times the IMF has pronounced itself finally in favour of major public infrastructure investment financed not by tax increases but by medium and long term borrowing. The current low interests … Continue reading

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Keynesian stimulus policies bear fruit:US unemployment drops to 5.9% lowest since 2008

The unemployment rate dropped to 5.9 % in September the lowest rate since 2008.The broadly defined definition of unemployment which includes discouraged workers who have dropped out of labour markets also fell to 11.8 %. This is very good news … Continue reading

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Ed Balls embraces fiscal austerity at Labour Party conference: A Major error

The shadow British Chancellor Ed Balls speaking at the Labour party conference has foolishly embraced the fiscal conservative principle of no new deficit financed funding for education or social investment or infrastructure when and if Labour is in office. This … Continue reading

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United Kingdom breathes sigh of relief:Scotland votes no 55%to 45% yes,Devolution on the way

In a hard fought exciting Scottish referendum contest with an overall turnout of 84.6% the No forces have won a clear victory 55.3 % to 44.7% Yes. The final numbers were only completely counted in the early hours of the … Continue reading

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Scotland the brave: the road to the referendum

The spectre of Scotland voting yes to become independent of Great Britain in ten days haunts the British press and Britain’s political class. Like its cousin the Québec independence movement the Scotland referendum campaign has tightened into an apparently close … Continue reading

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Poli 204/2 2014 course outline

Poli 204/2 2014 Introduction to Canadian Politics Professor Harold Chorney Course outline The study of Canadian politics is a complex field which draws upon a number of traditions in Canadian political science including institutionalism, political behaviour, political theory, international politics, … Continue reading

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