Category Archives: full employment

This U.S. recession’s recovery in comparison to 7 earlier ones:unemployment 45 months after its peak

Posted on October 17, 2012 by haroldchorneyeconomist

One critical way of guaging the severity of a recession, the impact of policy and the changing circumstances of the gobal economy is to examine the behaviour of unemployment during and after a recession. Fortunately we have excellent monthly data … Continue reading →

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U.S. Unemployment drops to 7.8%. excellent news, Obama on right track;Canadian unemployment rises.

Posted on October 5, 2012 by haroldchorneyeconomist

The U.S. Bureau of Labour Statistics has released the latest unemployment numbers for September and they are good ones. They show a long awaited (and as I have been arguing) fall in the unemployment rate to below 8 % , … Continue reading →

Posted in austerity, Canada, classical economics, deficit hysteria, deficits and debt, full employment, labour market clearing, Uncategorized | Tagged , | Leave a comment

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

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

US unemployment rate falls to 8.1 %, U6 unchanged at 14.5 %

Posted on May 4, 2012 by haroldchorneyeconomist

The U.S. created 115,000 net new jobs in April and the unemployment rate fell to 8.1 % from 8.2 % But the total number of people in the work force also declined, perhaps because of increasing retirement. The broader definition … Continue reading →

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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 →

Posted in austerity, Canada, fiscal policy, full employment, progressives, Québec, Uncategorized, unemployment | Leave a comment

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 →

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Eurozone Unemployment rises to 10.8%, 17.134 million unemployed.

Posted on April 2, 2012 by haroldchorneyeconomist

Eurostat has released the latest unemployment data for the Eurozone 17. It does not make for pleasant reading. Because of the foolish contractionary  austerity policies being implemented there, as expected unemployment is rising. It is now  10 % in France, … Continue reading →

Posted in austerity, business cycles, deficit hysteria, European unemployment, full employment, Uncategorized, unemployment | Leave a comment