Category Archives: austerity

Papandreou reverses position:no referendum, confidence vote takes place this evening

Posted on November 4, 2011 by haroldchorneyeconomist

Premier George Papandreou after coming under heavy pressure from European leaders and the perhaps temporary desertion of several of his Parliamentary colleagues  reversed his position on holding a referendum. In exchange, he may have persuaded some of the opposition party … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, European debt crisis, European financial stability fund, Greek sovereign debt crisis, J.M.Keynes, monetary policy, quantitative easing, treasury view, Uncategorized, unemployment | Tagged | Leave a comment

Greek Government seeks referendum approval of latest measures:panic among some lenders at prospect of democracy

Posted on November 2, 2011 by haroldchorneyeconomist

Prime Minister Papandreou has apparently shocked some European leaders by announcing that he and his cabinet have decided to submit the latest bail-out and austerity package to a democratic referendum. In the crucible of democracy this seems wholly appropriate since … Continue reading →

Posted in austerity, deficit hysteria, deficits and debt, European debt crisis, European financial stability fund, Greek sovereign debt crisis, Mr.Papandreou and democracy, Uncategorized, unemployment | Leave a comment

Keynes:Alive and Well

Posted on October 18, 2011 by haroldchorneyeconomist

Way back in 1996 I wrote an op ed piece for the business pages of the Toronto Globe and Mail in response to the anti-Keynesian musings of Terence Corcoran a business columnist for the Globe and Mail who was convinced … Continue reading →

Posted in austerity, Canada, classical economics, deficit hysteria, deficits and debt, fiscal policy, full employment, J.M.Keynes, labour market clearing, treasury view, Uncategorized, unemployment | 1 Comment

The Deficit:Hysteria and the Current Crisis

Posted on October 11, 2011 by haroldchorneyeconomist

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

Posted on September 30, 2011 by haroldchorneyeconomist

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

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

Posted on September 13, 2011 by haroldchorneyeconomist

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.

Posted on September 12, 2011 by haroldchorneyeconomist

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

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

Posted on September 3, 2011 by haroldchorneyeconomist

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 “

Posted on August 31, 2011 by haroldchorneyeconomist

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

Posted on August 29, 2011 by haroldchorneyeconomist

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