Category Archives: Italian debt crisis

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

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

Italian electorate rejects austerity by overwhelming margin

The Italian electorate has overwhelmingly rejected the austerity which its technocratic government led by Mario Monti with the backing of Germany had imposed on the country. Mr. Monti’s party according to La Repubblicca received a mere 10.5 % of the … Continue reading

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, fiscal policy, Italian debt crisis, J.M.Keynes, monetary policy, treasury view, Uncategorized, unemployment | Tagged , , | Leave a comment

Eurozone unemployment rises to 11.1 %.A major stimulus is required.

Eurostat has released their latest unemployment data and it is ugly. Unemployment has risen again to 11.1 % overall for the Eurozone led by a rise in Spain as well as a small rise in France. Only a major co-ordinated … Continue reading

Posted in austerity, business cycles, deficit hysteria, deficits and debt, European debt crisis, European unemployment, France politics+economy, Greek sovereign debt crisis, Italian debt crisis, Spain, Uncategorized, unemployment | 1 Comment

Supreme Court upholds Obama Care; Europe continues to debate how to rescue economy from bond market blackmail

The Supreme Court in a 5 to 4 decision with Chief Justice Roberts siding with the majority has upheld most of the Affordable Care Act by ruling its provisions constitutional under the federal powers of taxation. Four of the liberal … Continue reading

Posted in austerity, deficit hysteria, deficits and debt, European debt crisis, European financial stability fund, European unemployment, France politics+economy, Greek sovereign debt crisis, Italian debt crisis, monetary policy, quantitative easing, Uncategorized, unemployment | 1 Comment

On Debt follies and deficit hysteria:intelligent voices from the past

Among the many 1000 books in my library is a macro economics text, Macroeconomics:The measurement,analysis and control of aggregate economic activity, 3rd edition from 1968 written by Thomas Dernburg who was then  Professor of Economics at Oberlin college and Duncan … Continue reading

Posted in austerity, deficit hysteria, deficits and debt, European debt crisis, Greek sovereign debt crisis, Italian debt crisis, J.M.Keynes, Uncategorized | Leave a comment

S+P Downgrade Warning on European Sovereign Debt May throw Spanner in the Works

When it really counted in the past in the lead-up to the financial crisis S+P and other ratings agencies failed to warn about the quality or lack thereof of the asset backed financial derivatives that caused so much disaster in … Continue reading

Posted in austerity, classical economics, deficit hysteria, deficits and debt, European debt crisis, European financial stability fund, Greek sovereign debt crisis, Italian debt crisis, Uncategorized | Leave a comment