Main menu:

History of RPE Thought

Posts by Tag

RSS New from the CCPA

  • Towards Justice: Tackling Indigenous Child Poverty in Canada July 9, 2019
    CCPA senior economist David Macdonald co-authored a new report, Towards Justice: Tackling Indigenous Child Poverty in Canada­—released by Upstream Institute in partnership with the Assembly of First Nations (AFN) and the Canadian Centre for Policy Alternatives (CCPA)—tracks child poverty rates using Census 2006, the 2011 National Household Survey and Census 2016. The report is available for […]
    Canadian Centre for Policy Alternatives
  • Fossil-Power Top 50 launched July 3, 2019
    What do Suncor, Encana, the Royal Bank of Canada, the Fraser Institute and 46 other companies and organizations have in common? They are among the entities that make up the most influential fossil fuel industry players in Canada. Today, the Corporate Mapping Project (CMP) is drawing attention to these powerful corporations and organizations with the […]
    Canadian Centre for Policy Alternatives
  • Tickets available for Errol Black Chair Fundraising Brunch 2019 June 26, 2019
    You are invited to CCPA-MB’s annual fundraising brunch in support of the Errol Black Chair in Labour Issues.  Please join us to honour: Honoured Guest: John Loxley is Professor of Economics at the University of Manitoba and a Fellow of the Royal Society of Canada. Guest Speaker:  Jim Stanford is Economist and Director of the Centre […]
    Canadian Centre for Policy Alternatives
  • The fight against ISDS in Romania June 24, 2019
    CCPA is proud to co-sponsor this terrific video from our colleagues at Corporate Europe Observatory. It chronicles grassroots resistance to efforts by Canadian mining company Gabriel Resources to build Europe’s largest open-pit gold mine in a culturally rich and environmentally sensitive region of Romania. After this unimaginably destructive project was refused by the Romanian public and courts, the […]
    Canadian Centre for Policy Alternatives
  • A critical look at BC’s new tax breaks and subsidies for LNG May 7, 2019
    The BC government has offered much more to the LNG industry than the previous government. Read the report by senior economist Marc Lee.  
    Canadian Centre for Policy Alternatives
Progressive Bloggers


Recent Blog Posts

Posts by Author

Recent Blog Comments

The Progressive Economics Forum

Worker Bargaining Power and the Crisis

Here is a keeper – an IMF study that argues that loss of working class bargaining power is an underlying cause of financial crises, and that retoration thereof is key to reducing debt.

The abstract –

“The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial and real crisis. The paper presents a theoretical model where these features arise endogenously as a result of a shift in bargaining powers over incomes. A financial crisis can reduce leverage if it is very large and not accompanied by a real contraction. But restoration of the lower income group’s bargaining power is more effective.”


Comment from duncan cameron
Time: December 1, 2010, 7:02 am

This should be useful in talking to the opposition finance critics on the Hill who are constantly bombarded with arguments for public sector austerity and corporate tax breaks at a time when debt deflation prevails (as partially evidenced by the GDP numbers yesterday).
I wonder if they author(s) could be invited to Ottawa to do a presentation at a venue similar to the breakfast on the Hill series at the old Press Club. It would be nice if Barrie McKenna, and other reporters could hear about this first hand.

Comment from Travis Fast
Time: December 1, 2010, 9:55 am

Funny I argued something like that back at a conference in 2007 and a colleague accused me of presenting the good ol religion. Shame that a pretty standard “Keynesian” interpretation of neoliberalism should have seemed as though it were radical. But that is how far things got away from reality in 2007. As the US shows they are still far away from reality so I imagine a single IMF paper is not going to change much of the discourse; particularly given that is the exact opposite of what they (the IMF) are DOING in Ireland.

Comment from Sunszer
Time: December 1, 2010, 10:16 am

As revealing (though to most of us, unsurprising) as this report may be, we should not expect our government or business leaders to feel any sympathy with its findings. It is even more improbable that our they would find reason to enact any sort of progressive reform based on the reports conclusions.

Much more likely it is, that economic failures will continue to be attributed to the usual scapegoats: high taxes, execessive regulation, greedy unions, a lazy and undisciplined workforce, wasteful social spending and so-on. Same old mantra, same denial of responsibility, same mistakes, same unpleasant results.

There is ample historical precedent to suggest that the core of wealthy and powerful elite are simply incapable of learning from their past errors. They are ideologues, deeply entrenched in the economic superstition of the “free market”. Whithin the orthodoxy of the ruling class, to think or speak critically of their belief system is to become a heretic.
Economic policy is not a means but an end unto itself. The end is a simple one: the on-going concentration of wealth into the hands of the oligarchy. As such it is thus an unasailble “good”, not to be questioned or challenged by those who do not stand to benefit. Befittingly, the means chosen to achieve such an end must not be corrupted by considerations which do not conform to the pursuit of the divine vision…

Unfortunatley, denial of their own responsibility and the apportioning of blame to others will continue for as exactly as long as no-one holds them to account for the greed and poor decisions that bring about negative economic outcomes.

Comment from Travis Fast
Time: December 1, 2010, 12:07 pm

I should add however that the IMF has been pushing for a very different type of bailout for Ireland but that are not getting traction in the face of European and and German intransigence according to Eichengreen.

Comment from Purple Library Guy
Time: December 1, 2010, 1:55 pm

Nothing new there. Both the IMF and the World Bank often publish surprisingly enlightened/fact based studies which they inevitably blithely ignore at the policy-setting level, where class war from above remains the main objective.

Write a comment

Related articles