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.

Turbulence continues European debt, High unemployment + Reforming Wall Street dominate news

As we begin the new week there is a lot to reflect upon. The Europeans are supposedly going to resolve the deadlock over how to repair the bailout of Greece. Their austerity program has not worked and Greece now needs … Continue reading

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The Deficit:Hysteria and the Current Crisis

DeficitPapers-Chapter 2 – This essay  originally written in 1983-84 and the introduction to it (1992) was reprinted in my book with Phillip Hansen Toward a Humanist Political Economy published in 1992. I am including it here because it contains analysis … Continue reading

Posted in austerity, business cycles, Canada, classical economics, deficit hysteria, deficits and debt, European debt crisis, Federal Reserve, fiscal policy, full employment, J.M.Keynes, monetary policy, quantitative easing, U.S., Uncategorized, unemployment | 2 Comments

Multipliers, stimulus and jobs

One of the components of a Keynesian strategy is the concept of the investment multiplier first introduced by R.F. Kahn in 1931( there were also several other economists in this era who developed a comparable concept around the same time … Continue reading

Posted in austerity, business cycles, classical economics, fiscal policy, full employment, J.M.Keynes, Keynesian multiplier, labour market clearing, U.S., Uncategorized, unemployment | Leave a comment

In search of the Non Walrasian Labour Market Model in the Age of Globalization

In Search of the non Walrasian labour market model in the era of Globalization by Harold R.Chorney, Professor, graduate program in public policy and public administration; Concordia university, Montreal, Quebec                      … Continue reading

Posted in business cycles, Canada, classical economics, fiscal policy, full employment, J.M.Keynes, labour market clearing, Milton Friedman and NAIRU, monetary policy, natural rate of inflation, U.S., Uncategorized, unemployment | Leave a comment

Restoring full Employment: The Natural Rate of Inflation versus the Natural rate of Unemployment

RESTORING FULL EMPLOYMENT:THE NATURAL RATE OF INFLATION VERSUS THE NATURAL RATE OF UNEMPLOYMENT by     HAROLD CHORNEY,GRADUATE  PROGRAM IN PUBLIC POLICY AND PUBLICADMINISTRATION,DEPT. OF POLITICAL SCIENCE , CONCORDIA UNIVERSITY, MONTREAL Paper presented to the Conference on Social Policy as if … Continue reading

Posted in full employment, Milton Friedman and NAIRU, natural rate of inflation, Uncategorized, unemployment | 1 Comment

The Theory of the Business Cycle in Hayek, Keynes and Schumpeter

The paper below is a preliminary version of a chapter in my forthcoming book. I first presented this at a conference of Heterodox Economics in London ,  U.K. in 2001. The tech crash was in the air and unemployment had … Continue reading

Posted in austerity, business cycles, Canada, classical economics, J.M.Keynes, monetary policy, Schumpeter, U.S., Uncategorized, unemployment | Tagged , | 2 Comments

European debt crisis continues slow response of the ECB and European politicians at the heart of the problem.

Paul Krugman in today’s New York Times has an excellent column criticizing the European Central bank for its mishandling of the sovereign debt crisis. I totally agree with him and I commented as follows below. ”Prof. Krugman is quite correct … Continue reading

Posted in austerity, business cycles, deficits and debt, European debt crisis, Uncategorized | Leave a comment

U.S. Unemployment over the past decade

This has been a remarkable decade. At the beginning of the decade the American economy was experiencing the lowest unemployment that it had had in many decades.By the end of the decade the unemployment rate had skyrocketed to over 10 … Continue reading

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September 11 2011

It is a sombre day of remembrance for people all over the world who were affected by September 11th, 2001. Close to 3000 people were killed in the barbaric terrorist attack on New York and Washington. Most were Americans but … Continue reading

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President Obama’s Job Plan: a step in the right direction

The above table  originates with The Economic Policy Institute in a piece by John Irons.(http://www.epi.org/blog/quick-job-impact-president’s-proposals/) It is an informed statistical  attempt to estimate the employment impact of the new initiatives announced by President Obama in his special address to the … Continue reading

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