Category Archives: Uncategorized

Larry Summers is correct about the needed stimulus and accurate about making it clear that in terms of the low interest rate that the Fed and other national western central banks have posted there is no reason to worry about the deficit or debt and its impact upon the exchange rate of the US dollar nor inflation.

Former American treasury secretary and former Harvard University PresidentLarry Summers has reached some very progressive conclusions about American stimulus and how to finance it. He appeared this Sunday on MSNBC‘s Fareed Zakaria and clearly and forcefully explained what economists like … Continue reading

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Deficit and debt worries exaggerated by parliamentary budget officer

Once again we can see private sector and some public sector economists over estimating or historically exaggerating the risk factor in the large debts growing out of the covid-19 crisis. The Government very wisely and the Bank of Canada with … Continue reading

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Poli 204 course outline fall 2020

Poli 204 2 BB/ 2020 Concordia universityIntroduction to Canadian PoliticsProfessor Harold Chorney Course outline including essay topics list (under construction please ignore the numbers along the left margin they are a computer glitch of formatting clash between word and word press) … Continue reading

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Poli 610 course outline fall 2020

Macro economic policy after Keynes and covid Professor Harold Chorney Harold.chorney@concordia.ca Concordia university, Montreal This course introduces students to the relevance and work of John Maynard Keynes to the solution of macroeconomic policy problems in the age of covid. Covid … Continue reading

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Protectionism and the rise of Donald Trump; Erin O‘Toole wins Tory leadership with the support of social conservatives, Quebec nationalists and Alberta energy sector

One of the books on my shelves of economics literature in my hallway is Protectionism by Jagdish Bhagwati who has taught at Colombia University for many years. It was published in 1989 by MIT press but most of it is … Continue reading

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The Demand for Money and the issue of liquidity preference

The demand for money and the issue of excessive liquidity preference. Keynes developed his notion of liquidity preference as outlined in the GT (1936) building on ideas he may have developed in part through his earlier supervision of Fredrick Lavington … Continue reading

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Keynes on Marx versus his own approach

Keynes wrote very little on Marx although at one point he dismisses the labour theory of value as ‘‘out of date controverialising‘‘ and at another refers to Marx as a lesser figure than Sylvio Gessell, the German revolutionary Minister of … Continue reading

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Keynes A monetary theory of production

One of the major mistakes of some Keynesian interpreters and followers has been to underestimate the extent to which Keynes believed that monetary policy along side fiscal policy was and remains important. It is a necessary but not sufficient mechanism … Continue reading

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Deficit hysteria continues at the Globe and Mail

I don‘t like to dwell on this topic since I would have thought that after the massive deficits. following the last financial crisis, the amount of quantitative easing which is what I called greater monetization of the debt by the … Continue reading

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Conservatives respond to Federal government‘s act to supplement and improve further Covid 19 support measures

The Conservative party in the Canadian  House of Commons debate on Bill C 20 has raised some constructive suggestions about how to fine tune the wage subsidy and income support measures in Bill C20. But unfortunately some of their speakers … Continue reading

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