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.

Unemployment in U.S. rises :How does this recession compare to previous ones 20 months on?

Posted on July 9, 2011 by haroldchorneyeconomist

The U.S. Bureau of Labour statistics reported the June unemployment numbers and they were not good principally because the government sector continues to cut jobs- a very bad policy in a recovery period and the private sector still refuses to … Continue reading →

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U.S. Net Worth far exceeds Indebtedness

Posted on July 7, 2011 by haroldchorneyeconomist

One of the most common ways in which financial institutions assess credit worthiness is by measuring a client’s net worth. In other words they add up all of their assets including guaranteed future incomes streams discounted to their current present … Continue reading →

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As Aug 2nd approaches in the U.S.some data to deflate deficit hysteria.

Posted on July 5, 2011 by haroldchorneyeconomist

President Obama faces some implacable opposition to raising the debt limit in the U.S. by fiscally conservative and frankly dogmatic Republicans. Not to raise the limit will impose a politically inspired crisis on U.S. credibility and its position of leadership … Continue reading →

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Greek Parliament approves austerity demands; Protests continue as economy will shrink further.

Posted on June 29, 2011 by haroldchorneyeconomist

Tragically for the Greek people the Greek Parliament by a narrow  majority vote -155 to 138- has approved the austerity package demanded of Greece by the IMF and the leadership of the European union in exchange for an additional injection … Continue reading →

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Greek crisis illustrates futility of IMF austerity approach

Posted on June 16, 2011 by haroldchorneyeconomist

Greece is once again at the centre of an effort of the IMF and the European central bank to rescue its economy from the grip of a likely debt default and flight of capital. Unemployment, economic turmoil and political unrest … Continue reading →

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After the Crash:Rediscovering Keynes and the origins of quantitative easing (2nd posting)

Posted on June 3, 2011 by haroldchorneyeconomist

By Harold R.Chorney Professor of Political economy, Concordia University Montréal, Québec Preface: More than twenty five years ago I began to write about problems of public finance.( Chorney, 1984) At the time that I began to do so, I never … Continue reading →

Posted in austerity, business cycles, Canada, China and europe, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, Federal Reserve, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, Hayek, Italian debt crisis, J.M.Keynes, Japanese unemployment, Keynesian multiplier, monetary policy, quantitative easing, quantity theory of money, treasury view, U.K. economy, U.S., Uncategorized | Tagged , , | 4 Comments

John Maynard Keynes and the General Theory after 75 years;preface to a presentation to the Canadian Economics Association special panel on reconsidering Keynes in a time of crisis

Posted on June 3, 2011 by haroldchorneyeconomist

In memory of Gilles Dostaler   A paper presented to the annual meeting of the Canadian Economics Association, Université d’Ottawa, June 4, 2011. to be read in conjunction with After the Crash: Rediscovering Keynes and the Origins of quantitative easing. … Continue reading →

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Election aftermath why the voting system needs an overhaul

Posted on May 5, 2011 by haroldchorneyeconomist

Once again the nineteenth century first past the post British electoral system has done its awful work. The system which was designed to keep the riff-raff out of Parliament and if not possible at least out of government has been … Continue reading →

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Michael Ignatieff steps down

Posted on May 4, 2011 by haroldchorneyeconomist

Michael Ignatieff one of the most thoughtful creative intellectuals who has led a political party in Canada announced this morning that he was stepping down. This is a loss for Canadian politics and Canadian culture. There is in Canada an … Continue reading →

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Conservatives 40% of vote 167 seats. Liberals and NDP 50 % of vote 136 seats

Posted on May 3, 2011 by haroldchorneyeconomist

Once again the first past the post voting system has delivered a disasterously lopsided result. The combined opposition parties captured 60 % of the popular vote but because of the perverse nature of the first past the post system and … Continue reading →

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