Category Archives: Milton Friedman and NAIRU

The Passing of Abe Rotstein a Polanyi pioneer and leading member of the U of Toronto nationalist political economy school: Britain enters deflation

Posted on May 20, 2015 by haroldchorneyeconomist

Abe Rotstein one of Canada’s outstanding political economists and a leading founder of the Canadian nationalist school of political economy centred in Toronto  passed away last month at the age of 86. The Globe and Mail had a full page … Continue reading →

Posted in austerity, J.M.Keynes, Milton Friedman and NAIRU, monetary policy, quantitative easing and Keynes, quantity theory of money, U.K. economy | Tagged , , | Leave a comment

How long will inflation stay low ? Have we entered a new age of low inflation , slower growth and sluggish employment ?

Posted on January 20, 2014 by haroldchorneyeconomist

The question on many people’s minds in the financial and futures markets is all about judging the future inflation rate. Inflation has not been a problem for most of the past decade and certainly not a problem since the crash … Continue reading →

Posted in business cycles, Canada, European unemployment, fiscal policy, J.M.Keynes, Milton Friedman and NAIRU, monetary policy, U.S., Uncategorized, unemployment | Tagged , , , | 2 Comments

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

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

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

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