Category Archives: deficits and debt

The Great Depression revisited:learning from history

Posted on March 5, 2019 by haroldchorneyeconomist

(originally published on my blogspot blog site, haroldchorneypoliticaleconomist.blogspot.com February 20 , 2006) The Great Depression which began after the stock market crash in the fall of 1929 and lasted in its extreme form until 1934 and its aftermath form until … Continue reading →

Posted in deficits and debt, infrastructure investment, The Great Depression, Uncategorized | Leave a comment

Condolences to all those affected by the tragic events in Las Vegas and the terrible hurricanes, the earthquake in Mexico and a suggestion to help repair the damages.

Posted on October 5, 2017 by haroldchorneyeconomist

Many millions of people in the US. have been tragically affected by the terrible hurricanes that swept through Florida, Texas, Louisiana,Puerto Rico, the Caribbean islands and now the horror of a mass shooting in Nevada.Mexico also suffered a tragic loss … Continue reading →

Posted in deficits and debt, Federal Reserve, fiscal policy, funding essential infrastructure, Uncategorized | Tagged , | Leave a comment

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

Posted on September 9, 2016 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 , , | Leave a comment

Deficit hysteria in Québec:Facts versus Fictions, Net debt to GDP based on accumulated deficits 33%

Posted on November 15, 2014 by haroldchorneyeconomist

QUEBEC’S DEBT COMPARISONS WITH OTHER GOVERNMENTS IN CANADA Let’s compare Québec’s debt with the debt of the other governments in Canada, by using the two main debt concepts. The headline number which is largely meaningless because it ignores the value … Continue reading →

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Ed Balls embraces fiscal austerity at Labour Party conference: A Major error

Posted on September 22, 2014 by haroldchorneyeconomist

The shadow British Chancellor Ed Balls speaking at the Labour party conference has foolishly embraced the fiscal conservative principle of no new deficit financed funding for education or social investment or infrastructure when and if Labour is in office. This … Continue reading →

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Economic stagnation persists in Europe: austerity policies are the cause

Posted on August 13, 2014 by haroldchorneyeconomist

This week Stats Canada has announced it is recalculating its employment numbers because of a processing error in its July tabulation. It will be interesting to find out in what direction and way they erred in their earlier release. The … Continue reading →

Posted in deficit hysteria, deficits and debt, European debt crisis, European unemployment, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, monetary policy, Spain, treasury view, U.K. economy, unemployment | Leave a comment

Keynes, Lerner and Friedman in an Uncertain Age paper presented to Canadian Economics Association meetings , Vancouver May 31, 2014

Posted on May 22, 2014 by haroldchorneyeconomist

Keynes, Lerner and Friedman in an uncertain age by Harold Chorney Professor of Political Economy Graduate Program in Public administration                                  and Public Policy Dept. of Political Science Concordia University, Montréal harold.chorney@concordia.ca haroldchorneyeconomist.com Paper presented to the annual meetings of the … Continue reading →

Posted in business cycles, deficits and debt, fiscal policy | Tagged , , , | 1 Comment

Austerity and destruction of trade unions in Europe seeks to restore the anti Keynesian economic policies of the 1930s

Posted on December 8, 2013 by haroldchorneyeconomist

The unemployment rate dropped slightly in the U.S. which is of course a good thing. Check out the U.S. Bureau of Labour statistics for the latest numbers. However, there are still some very bad things happening in Europe around economic … Continue reading →

Posted in austerity, classical economics, deficits and debt, European debt crisis, European unemployment, full employment, J.M.Keynes, treasury view, Uncategorized, unemployment | Tagged , , | Leave a comment

The Owl of Minerva takes flight at dusk:The anti-Keynesian era is drawing to a close

Posted on May 2, 2013 by haroldchorneyeconomist

The Owl of Minerva takes flight at dusk: The anti-Keynesian era is drawing to a close By Harold R. Chorney, Professor of political economy, Concordia university, Montreal.( I originally submitted this to the New York Times as an op ed … Continue reading →

Posted in austerity, business cycles, deficit hysteria, deficits and debt, European debt crisis, European unemployment, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, Italian debt crisis, J.M.Keynes, Keynesian multiplier, monetary policy, Uncategorized | Tagged , , | Leave a comment

Reinhart and Rogoff study based on flawed data:I pointed this out in 2010

Posted on April 20, 2013 by haroldchorneyeconomist

It comes as no surprise to me that researchers at the University of Massachusetts at Amherst have published a study showing that the conclusions which Carmen Reinhart and Kenneth Rogoff drew about debt and economic growth were inappropriate and unjustified … Continue reading →

Posted in business cycles, deficit hysteria, deficits and debt, Uncategorized, unemployment | Tagged , , | Leave a comment