Category Archives: monetary policy

Bank of Canada prematurely hikes interest rates underestimating potential damage to employment

The Bank of Canada announced a further 25 basis point increase in the bank rate despite the fact that unemployment is still above 6 % and there is absolutely no evidence of inflationary pressure in the economy. Whatever rise in … Continue reading

Posted in Canada, free trade and globalization, monetary policy, Uncategorized, unemployment | Tagged , , | Leave a comment

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

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

Obama leads with inspiring state of union speech;European central bank embraces QE

The President of the United States delivered an excellent inspiring progressive speech on the road forward. He proposed a number of progressive policy reforms aimed at diminishing inequality by modestly increasing capital gains taxation rates from 23 to 28 % … Continue reading

Posted in anti austerity, European debt crisis, Greek sovereign debt crisis, monetary policy | Tagged , , | Leave a comment

Economic stagnation persists in Europe: austerity policies are the cause

This week Stats Canada has announced it is recalculating its employment numbers because of a processing error in its July tabulation. It will be interesting to find out in what direction and way they erred in their earlier release. The … Continue reading

Posted in deficit hysteria, deficits and debt, European debt crisis, European unemployment, fiscal policy, France politics+economy, full employment, Greek sovereign debt crisis, monetary policy, Spain, treasury view, U.K. economy, unemployment | Leave a comment

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

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

Unemployment Rises in Canada, falls in U.S. but weak numbers in both countries suggest possible slow down

Statistics Canada and the U.S. bureau of labour statistics published their December unemployment numbers and there are signs of potential trouble in both sets of numbers. The unemployment rate rose in Canada to 7.2% and fell in the U.S. to … Continue reading

Posted in austerity, Canada, Federal Reserve, fiscal policy, full employment, government shut down+debt ceiling U.S., monetary policy, U.S., Uncategorized, unemployment | Tagged , , | Leave a comment