Category Archives: full employment

Currency unions and balance of payments: what lies behind the Greek predicament

Posted on November 7, 2011 by haroldchorneyeconomist

One of the relatively unexplored aspects of the Greek debt crisis involves balance of payments issues that are buried beneath the terms of trade upon which Greece entered the European union. Much has been said and written about failure to … Continue reading →

Posted in austerity, balance of payments, classical economics, deficit hysteria, deficits and debt, European debt crisis, fiscal policy, full employment, Greek sovereign debt crisis, J.M.Keynes, monetary policy, quantity theory of money, Uncategorized | Leave a comment

Keynes versus the monetarists 2

Posted on November 4, 2011 by haroldchorneyeconomist

 Originally posted  SUNDAY, SEPTEMBER 19, 2010 Keynes versus monetarists 2 Some additional distinctions : Keynes&monetaristsKeynes’ theory of investment depends upon what he calls the marginal efficiency of capital. He defines the mec as follows: that rate of discount from a … Continue reading →

Posted in classical economics, deficits and debt, full employment, J.M.Keynes, labour market clearing, Milton Friedman and NAIRU, monetary policy, quantity theory of money, Schumpeter, unemployment | Leave a comment

Keynes versus the monetarists 1

Posted on November 4, 2011 by haroldchorneyeconomist

Keynes versus the monetarists 1 A Quick Guide to Keynes and the monetarists  originally posted Dec 2, 2005 on my blogspot blog.Keynes: 1. Rejects Say’s law of markets that supply creates its own demand; he also doesn’t accept Walras’s law … Continue reading →

Posted in business cycles, classical economics, deficits and debt, full employment, J.M.Keynes, Keynesian multiplier, labour market clearing, Milton Friedman and NAIRU, monetary policy, 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

In search of the Non Walrasian Labour Market Model in the Age of Globalization

Posted on September 20, 2011 by haroldchorneyeconomist

In Search of the non Walrasian labour market model in the era of Globalization by Harold R.Chorney, Professor, graduate program in public policy and public administration; Concordia university, Montreal, Quebec                      … Continue reading →

Posted in business cycles, Canada, classical economics, fiscal policy, full employment, J.M.Keynes, labour market clearing, Milton Friedman and NAIRU, monetary policy, natural rate of inflation, U.S., Uncategorized, unemployment | Leave a comment

Restoring full Employment: The Natural Rate of Inflation versus the Natural rate of Unemployment

Posted on September 19, 2011 by haroldchorneyeconomist

RESTORING FULL EMPLOYMENT:THE NATURAL RATE OF INFLATION VERSUS THE NATURAL RATE OF UNEMPLOYMENT by     HAROLD CHORNEY,GRADUATE  PROGRAM IN PUBLIC POLICY AND PUBLICADMINISTRATION,DEPT. OF POLITICAL SCIENCE , CONCORDIA UNIVERSITY, MONTREAL Paper presented to the Conference on Social Policy as if … Continue reading →

Posted in full employment, Milton Friedman and NAIRU, natural rate of inflation, Uncategorized, unemployment | 1 Comment

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

Posted on June 3, 2011 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 , , | 4 Comments

I’m Back

Posted on March 12, 2011 by haroldchorneyeconomist

Well its nice to be back on line after the hacker attack my e mail and blog suffered from last week. My blogspot site was attacked and although one can still visit it and view its contents I decided for … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, European debt crisis, Federal Reserve, fiscal policy, full employment, Greek sovereign debt crisis, Hayek, J.M.Keynes, Keynesian welfare state, labour market clearing, quantitative easing, quantity theory of money, treasury view, U.K. economy, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment