Category Archives: deficits and debt

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

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%

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

Posted in austerity, deficit hysteria, deficits and debt | Tagged , | Leave a comment

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

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

Posted in deficit hysteria, deficits and debt, European debt crisis | Tagged , , | Leave a comment

Economic stagnation persists in Europe: austerity policies are the cause

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

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 … 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

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

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