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.

François Hollande Wins:Exit Polls claim;Greece votes to repudiate austerity

François Hollande has won the French Presidential election with 51.9 % of the vote according to French exit polls. Nicholas Sarkozy has obtained 48.1 % of the vote according to these exit polls. It is an historic victory for the … Continue reading

Posted in European debt crisis, European unemployment, France politics+economy, Greek sovereign debt crisis, Uncategorized | Leave a comment

Greece votes on Sunday: anti austerity parties likely to capture more than 50 % of the vote.

Greek voters go to the polls in a few hours and it appears from the polls and expert analysis that the two major parties New Democracy and the Greek socialist party Pasok may together not get more than 40 or … Continue reading

Posted in austerity, Greek sovereign debt crisis, Mr.Papandreou and democracy, Uncategorized, unemployment | 1 Comment

More evidence that stimulus increases growth and reduces public debt

Stimulus produces faster economic growth and also leads to less public debt. I and other Keynesians have argued this for years. Here is an excellent piece of research by a young economist from Italy who has also taught at LSE … Continue reading

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US unemployment rate falls to 8.1 %, U6 unchanged at 14.5 %

The U.S. created 115,000 net new jobs in April and the unemployment rate fell to 8.1 % from 8.2 % But the total number of people in the work force also declined, perhaps because of increasing retirement. The broader definition … Continue reading

Posted in full employment, U.S., unemployment | Leave a comment

Labour sweeps British local elections.London vote counted tomorrow.

So far at 3 am Greenwich time the Labour party in the U.K. has plenty to cheer about. With 85 0f 181 councils reporting their results Labour has won 44 of them a gain so far of 19, the Conservatives … Continue reading

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Hollande debates Sarkozy:Informative, intense and entertaining.

Yesterday I spent close to three hours watching the debate between the two finalists in the campaign for the French presidency, Nicholas Sarkozy the current President and François Hollande the candidate of the Parti socialiste. I have to say that … Continue reading

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Euro area unemployment rises to 10.9 %

According to Eurostat unemployment has increased in the Euro area to 10.9 %. This is a clear sign that austerity policies do not result in lower unemployment. Below I reproduce courtesy of Eurostat part of their press release. March 2012 … Continue reading

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Canadian GDP falls 0.2 % in February:slowdown underway yet Government promotes austerity

The Canadian government is busy cutting programs and jobs and laying off some 18,000 civil servants. No surprise the economy is shrinking in response to this foolish ideologically inspired austerity. The central bank has made noises about raising interest rates. … Continue reading

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ILO Report Critical of Austerity Warns of Prolonged high unemployment

A new report from the ILO’s International Institute for Labour studies entitled Better Jobs For A Better Economy edited by Raymon Torres and researched and written by a team of economists and labour market analysts including some 13 individuals  has … Continue reading

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Schiller talks of negative impact of ‘new age of austerity’:Spain contracts again GDP falls 0.3%

Yale university economist Robert Schiller is featured on CNBC’s Squawk Box Europe arguing that house prices may not yet have hit bottom and the new age of austerity was promoting recessionary lack of confidence. Schiller who is a very creative … Continue reading

Posted in austerity, European debt crisis, European unemployment, Spain, U.S., unemployment | Leave a comment