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.

The roots of the American Federal Reserve and the Progressive era:Useful history to guide us in the current crisis

Among the few 1000 books in my library is a blue covered paperback with a green and black business cycle imposed on it with a photo of President Woodrow Wilson in the last peak to trough. I bought this book … Continue reading

Posted in Federal Reserve, progressives, U.S., unemployment | Leave a comment

The Long ”Recession” Deepens:American job creation at a standstill

The alarm bells should be ringing at the White House and in the halls of Congress at the latest economic numbers in the painful prolonged battle to restore prosperity to America. We are now a full two years since the … Continue reading

Posted in austerity, business cycles, deficits and debt, fiscal policy, J.M.Keynes, U.S., unemployment | Leave a comment

The misguided recrudescence of classical economic orthodoxy and the ” Treasury view “

Much is being made of the supposed benefits of medium term deficit reduction through austerity as a reassurance to the private sector to enable them to feel confident enough to spend their several trillion dollar hoard on investing and creating … Continue reading

Posted in austerity, business cycles, classical economics, deficits and debt, fiscal policy, J.M.Keynes, treasury view, Uncategorized, unemployment | Tagged | Leave a comment

Poli 363 Fall, 2011

Poli 363 fall 2011 Poli 363 Fall 2011 . Course outline Canadian Public Policy :Eight Policy Problems Professor Harold Chorney “In the event of extraordinary circumstances beyond the University’s control, the content and/or evaluation scheme in this course is subject … Continue reading

Posted in austerity, business cycles, Canada, deficits and debt, fiscal policy, free trade and globalization, Health care, J.M.Keynes, Japanese unemployment, U.S., unemployment | Leave a comment

Poli 610 Fall term 2011

Poli 610 2011 fall term Pol. 610  Macro-economic policy-making after Keynes Concordia University fall, 2011 Prof. H. Chorney tel. 848 2424 ext.2106  e mail Chorney@alcor.concordia.ca Office hours tba This course is an intensive examination of macro-economic policy-making and macro-economic theory … Continue reading

Posted in austerity, business cycles, Canada, deficits and debt, fiscal policy, J.M.Keynes, U.S., Uncategorized, unemployment | Tagged | Leave a comment

One person’s expenditure is another person’s income

John Maynard Keynes often stressed the importance of investment and consumption in stimulating an economy to produce an appropriate supply of jobs. He also less frequently explained how austerity as a policy followed by governments could be very damaging to … Continue reading

Posted in austerity | Tagged | 3 Comments

Japan’s rate of unemployment lower than conventional wisdom

Much is being made these days of the possibility that Europe and the U.S. are going the way of Japan in terms of the risks of deflation and the freezing up of the financial sector complete with zombie banks. But … Continue reading

Posted in deficits and debt, fiscal policy, Japanese unemployment, U.S., Uncategorized, unemployment | Leave a comment

Stock market roller coaster continues:panic selling on gloomy headlines and iffy logic

The Dow-Jones industrial average fell by just under 420 points reversing gains made over the past few days of trading apparently driven by negative headlines in the U.S. and Europe about unexpected weakness in the monthly manufacturing survey conducted by … Continue reading

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Dubious downgrade has consequences: Balance sheet recession requires fiscal stimulus and monetary accomodation

Crises always teach participants important lessons. The key lesson from this avoidable crisis in the stock market is the urgent need to reform the rating agencies to ensure they actually understand something about the modern global economy and the history … Continue reading

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Krugman is right, job creation top priority.

Paul Krugman had an excellent piece in the New York Times the other day(The Wrong worries, Aug.4,2011) to which I  along with more than 500 other readers responded with a comment. I am reproducing the comment below because I think … Continue reading

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