Category Archives: Uncategorized

President Obama’s Job Plan: a step in the right direction

Posted on September 9, 2011 by haroldchorneyeconomist

The above table  originates with The Economic Policy Institute in a piece by John Irons.(http://www.epi.org/blog/quick-job-impact-president’s-proposals/) It is an informed statistical  attempt to estimate the employment impact of the new initiatives announced by President Obama in his special address to the … Continue reading →

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The misguided recrudescence of classical economic orthodoxy and the ” Treasury view “

Posted on August 31, 2011 by haroldchorneyeconomist

Much is being made of the supposed benefits of medium term deficit reduction through austerity as a reassurance to the private sector to enable them to feel confident enough to spend their several trillion dollar hoard on investing and creating … Continue reading →

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

Poli 610 Fall term 2011

Posted on August 25, 2011 by haroldchorneyeconomist

Poli 610 2011 fall term Pol. 610  Macro-economic policy-making after Keynes Concordia University fall, 2011 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 … Continue reading →

Posted in austerity, business cycles, Canada, deficits and debt, fiscal policy, J.M.Keynes, U.S., Uncategorized, unemployment | Tagged | Leave a comment

Japan’s rate of unemployment lower than conventional wisdom

Posted on August 20, 2011 by haroldchorneyeconomist

Much is being made these days of the possibility that Europe and the U.S. are going the way of Japan in terms of the risks of deflation and the freezing up of the financial sector complete with zombie banks. But … Continue reading →

Posted in deficits and debt, fiscal policy, Japanese unemployment, U.S., Uncategorized, unemployment | Leave a comment

Stock market roller coaster continues:panic selling on gloomy headlines and iffy logic

Posted on August 19, 2011 by haroldchorneyeconomist

The Dow-Jones industrial average fell by just under 420 points reversing gains made over the past few days of trading apparently driven by negative headlines in the U.S. and Europe about unexpected weakness in the monthly manufacturing survey conducted by … Continue reading →

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Dubious downgrade has consequences: Balance sheet recession requires fiscal stimulus and monetary accomodation

Posted on August 8, 2011 by haroldchorneyeconomist

Crises always teach participants important lessons. The key lesson from this avoidable crisis in the stock market is the urgent need to reform the rating agencies to ensure they actually understand something about the modern global economy and the history … Continue reading →

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Krugman is right, job creation top priority.

Posted on August 6, 2011 by haroldchorneyeconomist

Paul Krugman had an excellent piece in the New York Times the other day(The Wrong worries, Aug.4,2011) to which I  along with more than 500 other readers responded with a comment. I am reproducing the comment below because I think … Continue reading →

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117,000 new jobs added in July unemployment drops to 9.1 %

Posted on August 5, 2011 by haroldchorneyeconomist

The U.S. Bureau of Labour Statistics has released data that shows that the U.S. economy added a net 117,000 jobs last month and that unemployment has dropped to 9.1 %. This is not a spectacular improvement but it does beat … Continue reading →

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Historical data from the bureau of labour statistics employment survey key information

Posted on August 5, 2011 by haroldchorneyeconomist

When tomorrow’s employment survey numbers are published they will be closely examined by market traders for signs of continued economic weakness or of economic recovery taking root. To better understand them it is useful to put the monthly survey numbers … Continue reading →

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Austan Goolsbee evades answering excellent question about why the Obama administration switched from a stimulus policy that worked to a cutting strategy that won’ t @ TheDailyShow #austangoolsbee

Posted on August 4, 2011 by haroldchorneyeconomist

Jon Stewart the comedian asked a devastating question of Austan Goolsbee President Obama’s chief economic advisor who is leaving office about how come if the administration had argued correctly over and over again that the stimulus had worked to create … Continue reading →

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