Category Archives: Uncategorized

The American Presidential Election:Hayek versus Keynes Revisited

Posted on March 22, 2013 by haroldchorneyeconomist

Prof. Harold Chorney, Concordia university Montreal, Québec Hayek Versus Keynes Revisited :Macroeconomic Policy and the American 2012 Presidential election    paper to be presented to MPSA meeting, Chicago. 2013    Provisional copy The recent American presidential election revealed that little … Continue reading →

Posted in Uncategorized | 1 Comment

Cyprus Parliament Rejects Deal: May Turn to Russia Instead

Posted on March 19, 2013 by haroldchorneyeconomist

The Cypriot Parliament has rejected the bailout deal on offer even after account holders with accounts under the 20,000€ threshold were exempted from the proposed tax of 6.75 %. The tax proposed for account holders above 100,000€ was 9.9 %. … Continue reading →

Posted in Uncategorized | Leave a comment

Cyprus taxes bank deposits in exchange for Euro zone bailout

Posted on March 16, 2013 by haroldchorneyeconomist

Cyprus which has a reputation for being a centre for money laundering from Eastern Europe, Russia in particular and other places as well has had a financial services sector and banking centre far greater than the size of its economy, … Continue reading →

Posted in austerity, Greek sovereign debt crisis, Uncategorized | Tagged , , | Leave a comment

Canadian unemployment stable at 7.0% 50,700 gain in employment

Posted on March 8, 2013 by haroldchorneyeconomist

The Canadian unemployment rate for February remained stable at 7.0 % with 50,700 new jobs reported according to Statistics Canada. The participation rate increased to 66.7 %. youth unemployment for those aged 15 to 24 remained elevated at 13.6 %. … Continue reading →

Posted in Uncategorized | Leave a comment

U.S. unemployment drops to 7.7 % 236,000 jobs created in February

Posted on March 8, 2013 by haroldchorneyeconomist

There was some good news on the unemployment front in the U.S. The Bureau of Labour statistics has released the report for February and it shows that the unemployment rate has fallen to 7.7 % which is positive news. Total … Continue reading →

Posted in Uncategorized | 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

Italian electorate rejects austerity by overwhelming margin

Posted on February 26, 2013 by haroldchorneyeconomist

The Italian electorate has overwhelmingly rejected the austerity which its technocratic government led by Mario Monti with the backing of Germany had imposed on the country. Mr. Monti’s party according to La Repubblicca received a mere 10.5 % of the … Continue reading →

Posted in austerity, business cycles, classical economics, deficit hysteria, deficits and debt, European debt crisis, European unemployment, fiscal policy, Italian debt crisis, J.M.Keynes, monetary policy, treasury view, Uncategorized, unemployment | Tagged , , | Leave a comment

Oscars reflect and influence changing American culture

Posted on February 25, 2013 by haroldchorneyeconomist

I have watched the Oscars for many years, not just because like hundreds of millions I love the movies but also because I think they are a cultural artifact which can help us understand the direction American and our own … Continue reading →

Posted in cinema, Uncategorized | 3 Comments

Canadian inflation falls to 0.5% in January compared to January 2012. Further evidence of slowdown ?

Posted on February 23, 2013 by haroldchorneyeconomist

The latest inflation data for Canada adds further evidence that the Canadian economy is slowing and perhaps even teetering on the edge of deflation.The trend in inflation has been persistently in a downward direction over the past year. Year to … Continue reading →

Posted in Uncategorized | 1 Comment

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

Posted on February 20, 2013 by haroldchorneyeconomist

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