Category Archives: Keynesian multiplier

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

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Demographic slowdown in U.S. may be one of the causes of the deep recession and slow recovery

First of all a healthy and happy New Year to everyone. With any luck and some good policies this year should be more prosperous for more people than 2013.  We are beginning the sixth year since the crash and financial … Continue reading

Posted in business cycles, Canada, fiscal policy, Keynesian multiplier, U.S., 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

American Recovery Act and stimulus program has a multiplier of more than 2: hence it was a very effective program

There have been a lot of false claims made about the ineffectiveness of the American Recovery act and the stimulus that it administered. But if one actually examines the data and calculates the rise in the GDP over the years … Continue reading

Posted in business cycles, deficit hysteria, fiscal policy, Keynesian multiplier, treasury view, U.S., Uncategorized, unemployment | Tagged , | Leave a comment

Europe still mired in austerity, slow growth and possible recession and excessive unemployment

The situation in Europe continues to be worrisome and exasperating. The stubborn ideologically driven opposition to stimulating the economy through major infrastructure and employment creating investments and a supportive low interest monetary policy including where appropriate quantitative easing is long … Continue reading

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, France politics+economy, full employment, J.M.Keynes, Keynesian multiplier, labour market clearing, monetary policy, quantitative easing, Spain, treasury view, U.K. economy, Uncategorized, unemployment | Tagged , , | 2 Comments

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

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

Some notes on the multiplier

A key component of Keynes’ General Theory was R.F. Kahn’s development of the multiplier first published in the Economic Journal in June, 1931 ‘The  Relation of Home Investment to Unemployment.’ Kahn was not the only economist to develop this concept. … Continue reading

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