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.

US unemployment disappoints;employment up 163000, headline unemployment rate 8.3 %; U6 15.0%.

The latest data for unemployment and employment growth in the U.S. confirms that the U.S. is creating enough jobs to absorb new entrants to the labour market but not enough to lower the unemployment rate. In fact, both the headline … Continue reading

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Premier Charest calls election September 4th :PQ and Liberals neck and neck

Premier Jean Charest the leader of the provincial Quebec Liberal party has called a provincial election for September 4, 2012. The last election was held December 8, 2008. Charest won last time with a small majority of the seats. But … Continue reading

Posted in Canada, civil liberties, Québec, sovereignty of quebec, Uncategorized, unemployment | Leave a comment

UK growth negative for second quarter 2012:more evidence austerity does not work

The U.K. office of national statistics has released its latest numbers on the declining GDP in Britain. As I expected they continue to be starkly negative. The UK economy continues to shrink so that Britain has now experienced a clear … Continue reading

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, U.K. economy, Uncategorized, unemployment | Leave a comment

Chinese state oil company seeks approval to buy strategic Canadian oil and gas company:thorough critical analysis required

China’s third largest oil and gas company  has made a $ 15.1 billion  bid for one of Canada’s leading oil and gas companies, Nexen. The Chinese National Offshore Oil corporation(Cnooc) is China’s largest offshore oil supplier with a capital of … Continue reading

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Spanish austerity misguided policy

The government of Spain despite its horrible 24 % plus unemployment rate continues to implement further austerity policies . This guarantees a deeper and profound recession that damages the life chances of  a quarter or more of the Spanish population. … Continue reading

Posted in austerity, classical economics, deficit hysteria, European debt crisis, European unemployment, Spain, treasury view, Uncategorized | 1 Comment

Canadian unemployment falls to 7.2 % in June

The employment news was better in Canada than the U.S.Accoring to Statistics Canada the rate of unemployment fell one tenth of a percent in June from 7.3 to 7.2 % . The participation rate is 66.7 %. The unemployment rate … Continue reading

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U.S. unemployment remains 8.2 %, U6 rises to 14.9 % disappointing news

The US bureau of Labour Statistics released its latest employment data for the month of June and the news is disappointing. Some 80,000 net new jobs were created but this was just enough to absorb a little over half  the … Continue reading

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Eurozone unemployment rises to 11.1 %.A major stimulus is required.

Eurostat has released their latest unemployment data and it is ugly. Unemployment has risen again to 11.1 % overall for the Eurozone led by a rise in Spain as well as a small rise in France. Only a major co-ordinated … Continue reading

Posted in austerity, business cycles, deficit hysteria, deficits and debt, European debt crisis, European unemployment, France politics+economy, Greek sovereign debt crisis, Italian debt crisis, Spain, Uncategorized, unemployment | 1 Comment

Eurozone allows stabilization fund to inject capital into private banks: Spain, Italy and France win partial victory

After late night negotiations it has been decided to permit the European stability fund to purchase directly the assets offered by banks in Spain and and Italian sovereign bonds and by so doing permit European funds to be injected directly … Continue reading

Posted in austerity, deficit hysteria, deficits and debt, European debt crisis, European financial stability fund, European unemployment, France politics+economy, Greek sovereign debt crisis, quantitative easing, Spain, Uncategorized | 1 Comment

Supreme Court upholds Obama Care; Europe continues to debate how to rescue economy from bond market blackmail

The Supreme Court in a 5 to 4 decision with Chief Justice Roberts siding with the majority has upheld most of the Affordable Care Act by ruling its provisions constitutional under the federal powers of taxation. Four of the liberal … Continue reading

Posted in austerity, deficit hysteria, deficits and debt, European debt crisis, European financial stability fund, European unemployment, France politics+economy, Greek sovereign debt crisis, Italian debt crisis, monetary policy, quantitative easing, Uncategorized, unemployment | 1 Comment