Category Archives: U.K. economy

The United Kingdom at the crossroads (I update this sometimes daily until the situation is clarified latest updates at the end of the post)

Posted on March 13, 2019 by haroldchorneyeconomist

The British writers and historians Anthony Beevor and Artemis Cooper in 1994 co-authored a richly detailed history and narrative of Paris after the liberation 1944-1949 (London: Penguin Books revised edition, 2004) In the preface to the book they make a haunting … Continue reading →

Posted in nationalism and trade, U.K. economy, unemployment | Tagged , | Leave a comment

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

Posted on September 9, 2016 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 , , | 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

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

Economic stagnation persists in Europe: austerity policies are the cause

Posted on August 13, 2014 by haroldchorneyeconomist

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

U.S. government Shutdown Irrationality & higher Unemployment in Europe:A very bad combination

Posted on October 1, 2013 by haroldchorneyeconomist

The long predicted but nevertheless very foolish self inflicted irrational Tea party Inspired shutdown of all but essential U.S. government services has occurred as of midnight last night, Washington time. It is difficult to predict how long it will last … Continue reading →

Posted in austerity, business cycles, European financial stability fund, European unemployment, fiscal policy, France politics+economy, government shut down+debt ceiling U.S., Spain, U.K. economy, U.S., Uncategorized, unemployment | Tagged , , , | Leave a comment

The long hot summer recovery continues

Posted on August 26, 2013 by haroldchorneyeconomist

I have been away from my blog and web site for  an extended period, last posting at the close of June. I will be resuming a more frequent schedule beginning next week. A heck of a lot has transpired both … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, fiscal policy, full employment, monetary policy, U.K. economy, Uncategorized, unemployment, urban culture | Tagged , , | Leave a comment

European obsession with austerity and inefficient job search repeats error of the 1930s

Posted on May 31, 2013 by haroldchorneyeconomist

There was discussion in the financial press today and yesterday about the fact that the EU has extended the deadline by which they expect countries like France, Spain and Italy to meet the 3% deficit to GDP targets which the … Continue reading →

Posted in austerity, classical economics, deficit hysteria, European unemployment, France politics+economy, full employment, Greek sovereign debt crisis, quantitative easing, Spain, U.K. economy, Uncategorized, unemployment | Tagged , , | Leave a comment

The end of an era ? Margaret Thatcher passes away A controversial but also creative force in British politics is gone.

Posted on April 9, 2013 by haroldchorneyeconomist

Margaret Thatcher, an elemental force of great magnetism but also great negative consequences, has passed away. She enters history as an extraordinary politician and certainly one of the great figures on the Tory side of British politics. From my liberal … Continue reading →

Posted in austerity, Hayek, J.M.Keynes, Keynesian welfare state, U.K. economy | Tagged , , | Leave a comment

Unemployment in Europe averages 12 % as of February 2013

Posted on April 2, 2013 by haroldchorneyeconomist

The bitter fruits of austerity are on display in the latest unemployment report from Eurostat. Overall there are 26 million people out of work in Europe. unemployment averages 12 %. It is 10.8 % in France,7.7 % in the U.K., … Continue reading →

Posted in austerity, business cycles, deficit hysteria, European debt crisis, European unemployment, fiscal policy, France politics+economy, monetary policy, Spain, U.K. economy, Uncategorized, unemployment | Tagged , , | Leave a comment

Sequester underway in U.S. Cracks appear in British austerity wall.

Posted on March 7, 2013 by haroldchorneyeconomist

We will soon be a full week into the foolish sequester experience in the U.S. So far it is way too soon to assess the damage to the growth rate and the slowdown in employment that cutting the first 100 … Continue reading →

Posted in austerity, deficit hysteria, monetary policy, treasury view, U.K. economy, Uncategorized | Tagged , , | Leave a comment