Category Archives: fiscal policy

US Unemployment Rate Falls to 7.7% from 7.9%:Positive trend continues

Posted on December 7, 2012 by haroldchorneyeconomist

  The latest U.S. unemployment rate shows a continuation of the positive trend of lower unemployment and a gradually healing eeconomy. The headline rate for November 2012 dropped two tenths of a percentage point to 7.7 % from its October … Continue reading →

Posted in American Presidential election, business cycles, fiscal policy, full employment, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment

Mark Carney chosen to head the Bank of England: Bold Decision Big Challenges Ahead

Posted on November 26, 2012 by haroldchorneyeconomist

The Decision of the British government to appoint the Canadian central banker Mark Carney as the new Governor of the Bank of England , the crown jewel of central banks, is a bold decision by Chancellor George Osborne and PM … Continue reading →

Posted in austerity, Canada, European debt crisis, European unemployment, fiscal policy, monetary policy, quantitative easing, treasury view, U.K. economy, Uncategorized, unemployment | Tagged , , | Leave a comment

Obama wins decisive but narrow victory in both popular vote and electoral college.

Posted on November 11, 2012 by haroldchorneyeconomist

This past week’s American election marks an important historical turning point. A broadly based multi-cultural multi-lingual diverse lifestyle progressive 21st century  coalition won a narrow but decisive victory over a much more conservative traditional 20th century coalition. Both sides worked … Continue reading →

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The fall economic conversation: Hayek versus Keynes, Romney versus Obama, whither the global business cycle ?

Posted on September 18, 2012 by haroldchorneyeconomist

Now that relative calm has  returned to Québec after the provincial election we can focus our attention on the broader economic issues that beset the global economy. The American election although currently focused on foreign policy appears set to return … Continue reading →

Posted in austerity, business cycles, deficit hysteria, deficits and debt, European debt crisis, Federal Reserve, fiscal policy, free trade and globalization, full employment, Hayek, treasury view, U.K. economy, U.S., Uncategorized, unemployment | Leave a comment

Poli 610:Macro-economic theory and policy after Keynes and the crash of 2008

Posted on September 6, 2012 by haroldchorneyeconomist

Pol. 610  Macro-economic policy-making after Keynes Concordia University fall, 2012 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 in the light of recent … Continue reading →

Posted in austerity, business cycles, Canada, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, Federal Reserve, fiscal policy, France politics+economy, free trade and globalization, full employment, Hayek, J.M.Keynes, Keynesian multiplier, labour market clearing, Milton Friedman and NAIRU, monetary policy, natural rate of inflation, quantitative easing, quantity theory of money, Schumpeter, U.K. economy, U.S., Uncategorized, unemployment | Leave a comment

President Obama has smallest increase in government spending compared to Reagan, Bush 1,Clinton or Bush 2 according to Wall Street Journal.

Posted on August 15, 2012 by haroldchorneyeconomist

The Wall Street Journal in its Marketwatch section has pointed out that contrary to the tea party claims President Obama has had the smallest increase in government spending of Presidents going all the way back to Ronald Reagan. Here are … Continue reading →

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Alvin Hansen, the right amount of money, deficit finance and the search for full employment.

Posted on June 1, 2012 by haroldchorneyeconomist

Alvin  Hansen establishes early in his work, Monetary Theory and Fiscal policy that the power to create money is a force to be reckoned with. In the nineteenth century in the U.S.the private banks at the behest of their business … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, Federal Reserve, fiscal policy, full employment, monetary policy, quantitative easing, quantity theory of money, treasury view, U.S., Uncategorized | Tagged , , , , | 4 Comments

Monetary theory and fiscal policy:the insights of Alvin Hansen

Posted on May 22, 2012 by haroldchorneyeconomist

One of the greatest interpreters of J.M.Keynes was the American economist Alvin Hansen whose A Guide to Keynes became a staple for beginning macro students during the 1950s and sixties. Hansen made several important errors of interpretation and the IS LM … Continue reading →

Posted in austerity, business cycles, classical economics, Federal Reserve, fiscal policy, full employment, J.M.Keynes, Milton Friedman and NAIRU, monetary policy, quantity theory of money, U.S., Uncategorized | 2 Comments

Vive le Québec social et progressif ! : the conflict over higher university tuition fees in Québec

Posted on April 14, 2012 by haroldchorneyeconomist

There has been a significant clash over values and higher education taking place in Québec over the past few weeks. There is an on going student strike and there  have been daily demonstrations at many of the university campuses in … Continue reading →

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American unemployment rate drops to 8.2 % but job creation still unsatisfactory

Posted on April 9, 2012 by haroldchorneyeconomist

The U.S. Bureau of Labour Statistics reported last week that the unemployment rate fell to 8.2 % . But the total number of new jobs added was a disappointing 83,000 below what the market had been expecting so bearish sentiment … Continue reading →

Posted in austerity, business cycles, fiscal policy, full employment, U.S., Uncategorized, unemployment | Leave a comment