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Archive for June, 2015

Economics for Everyone: Second Edition

This week marks the official publication release of the second edition of Economics for Everyone: A Short Guide to the Economics of Capitalism.  In this blog I explain my motivations in writing the book, and promoting critical economic literacy more generally; the commentary was originally published by Pluto Books (the international publisher).  The book is […]

Energy and climate in the Harper decade

The costs of climate change are piling up, and can no longer be ignored. 2015 is poised to be a landmark year, with a new global treaty on climate to be signed in Paris. In contrast, the Harper decade succeeded in stalling any meaningful climate action. The PM’s record is not just of neglect, but […]

Wages: Up, Down, or Sideways?

We’re coming up to a Federal Election, and one where “The Economy” will likely be a central battlefield. As such, we’re going to hear many claims and counter-claims that support the view that Stephen Harper is either the Greatest or Worst Prime Minister ever. One point of contention is wages. Part of the problem are the […]

Inequality, the Financial Crisis and Stagnation: Competing Stories and Why They Matter

Inequality, the Financial Crisis and Stagnation: Competing Stories and Why They Matter Thomas Palley There exists several mainstream explanations of the financial crisis and stagnation, each explaianing the role they respectively attribute to income inequality. Those explanations contrast deeply with a structural Keynesian explanation of the crisis. The role of income inequality also differs substantially, […]

The slow transformation of the IMF

Louis-Philippe Rochon Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics In its recent report released in early June, the International Monetary Fund (IMF) has made some startling policy announcements: given the general depressed economic condition in the world economy, now is not the time to pay down the national debt if that implies sacrificing […]

Judging the Odds for an “Election Recession”

Canada’s first-quarter GDP report was not just “atrocious,” as predicted by Stephen Poloz.  It was downright negative: total real GDP shrank at an annualized rate of 0.6% (fastest pace of decline since the 2008-09 recession).  Nominal GDP fell faster (annualized rate of 3%), as deflation took hold across the broader production economy (led, of course, […]

Climate Justice and the Good Life, for Everyone

In our Climate Justice Project, our research has stressed structural changes and collective action to lower carbon footprints rather than individual behavioural change. The ability of many actors to respond to incentives like a carbon tax is constrained by their circumstances. Suburban households often have no realistic option but to keep driving. Renters have little agency over […]