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The second edition of Economics for Everyone: A Short Guide to the Economics of Capitalism was co-published by Pluto Books, the Canadian Centre for Policy Alternatives, and Fernwood Publishing this summer. With the federal election now safely behind us, I am pleased to announce a series of book launch events in 4 cities. Details are […]
I am not a member of a political party. I recognize the importance of elections, participate in election campaigns (including canvassing and raising money for good candidates), and engage heavily in election-related debates (like the detailed critique of the Harper government’s economic record I co-authored, with Jordan Brennan, for Unifor). But I am skeptical of […]
As this marathon election campaign enters its final days, it is interesting to look back on the evolution of the economic debate during the past 11 weeks on the hustings. The Harper Conservatives once again tried to play the “economic card,” claiming their policies are essential to Canada’s future growth and prosperity. But this time, […]
Statistics Canada is reporting a 0.3% increase in monthly GDP for July, on top of a (downward revised) 0.4% increase in June. This will no doubt spark Conservative politicians, and many economists, to declare that the shallow recession which Canada experienced in the first half of 2015 is already over. As recently as last week, […]
For years, trade and justice activists have proposed renegotiating the North American Free Trade Agreement to address some of the deal’s most damaging features: for example, by removing the anti-democratic investor-state dispute settlement provisions of Chapter 11, linking trade benefits to genuine protections for human and labour rights (all the more important given the deteriorating […]
This week Stephen Harper’s Conservatives are trumpeting the announcement of a small surplus ($1.9 billion) for fiscal 2014-15. The political symbolism of this “good news” is a welcome change for them from a string of negative economic reports (most importantly, news that Canada slipped into recession in the first half of 2015) that has damaged […]
There were surely more people (myself included) watching Statistics Canada’s GDP release at 8:30 am Tuesday, than any other release in recent history! This reflected the political significance of the possibility that an official recession would be confirmed by the numbers, right smack in the middle of an election campaign — all the more so […]
At the big Unifor Canadian Council meeting in Montreal last weekend there was a surprise appearance by a new musical group, called “Stephen Harper and the Senators”, featuring Stephen Harper on guitar and vocals, Patrick Brazeau on drums, Pamela Wallin on bass, and Mike Duffy on lead guitar and general spiritual advising. They played a […]
Was there any concrete economic reason for Stephen Harper to call Stephen Poloz yesterday, as global stock markets continued their gyrations? And then to have his office subsequently issue a cryptic and rather foreboding statement about the conversation?
Child care will be a major issue in this federal election campaign. The NDP has pledged to create 370,000 new $15-per-day spaces through joint federal-provincial initiatives by 2017-18, at an estimated cost of around $2 billion per year (growing that to 1 million spaces by 2023). The Liberals have not yet announced their child care […]
Speculation is intense that the unofficial election campaign we have already been experiencing for several months, is about to become official: Ottawa is awash in rumours the writ may be dropped as early as this weekend, setting the stage for months of promises, accusations, and photo-ops. As always the economy will be the top issue. […]
Evidence continues to mount regarding Canada’s lousy economic trajectory, and there is now a pretty broad consensus among Canadian economists that the economy was likely in recession in the first half of the year. That’s not a sure thing, of course: we won’t know until September 1 if second quarter GDP grew or shrank.
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 […]
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, […]
We are pleased to present this guest commentary from Kim Pollock, a former union researcher based in B.C. and Saskatchewan. Now retired, Kim is investigating various aspects of Canada’s economic performance. A longer version of this paper will be presented by him at the upcoming Society for Socialist Studies meetings in Ottawa, and can be obtained […]
With a document whose very timing, let alone content, was so transparently politicized and manipulative, it’s hard to even know where to start. Among the many galling, short-sighted, and ultimately destructive components of this federal budget, here are 5 that stand out in my view:
In light of the latest NAFTA Chapter 11 decision to go against Canada, I was asked to put together some background notes for our Unifor leadership on this bizarre quasi-judicial kangaroo courtsystem. Here they are, in case they are useful for anyone else getting up to speed on the whole investor-state dispute system. Some very […]
Canada’s economic and fiscal debates in recent months have been dominated by the possible impacts of the sudden fall in oil prices since last autumn on growth, employment, and fiscal balances. Finance Minister Joe Oliver delayed the budget, the Bank of Canada shocked markets with a rate cut, and Alberta Premier Jim Prentice is now […]
The banner headline across the top of the front page of the national Globe and Mail edition caught my eye Saturday morning: “How B.C. became a ‘have’ province.” Wow, I thought to myself, that is quite something (and without a single LNG plant yet visible on the horizon!). So I prepared to sit down with […]
Acres of newsprint have been devoted in recent weeks to the possibility that lower oil prices might push the federal budget back into a deficit position. As I argue in my column in today’s Globe and Mail, this drama is mostly political theatre — and progressives should be cautious about accidentally accepting the Conservative frame […]
Every year has its ups and downs, of course. But there’s something about New Year’s that makes one naturally want to emphasize the positive. So here is my personal list of 5 positive economic developments from the year past — both globally and right here at home — that warmed this particular economist’s left-wing heart in […]
Paul Pugh is a long-time progressive activist, trade unionist, and city councillor from Thuunder Bay, Ont., who has guest-written previous posts for us on economic policies in Uruguay. Here is a short report from Paul on the outcome of recent crucial elections in Latin America. Thank you Paul, and congratulations on your own re-election this […]
Last week my Unifor colleague Jordan Brennan and I published a study through the CCPA Ontario office examining the historical empirical evidence regarding the link between changes in minimum wages and employment outcomes. We find there is no robust evidence in Canadian historical data that increases in real minimum wages cause either lower employment or higher […]
There are many motivations to explain the Harper government’s rush to sign free trade deals. Since coming to power, the Conservatives have implemented 6 FTAs, have “concluded” 2 more (with Korea and, purportedly, with the EU), and have fully 14 other FTA negotiations on the go.
What a rough week it’s been over at Statistics Canada. It’s a world-renowned statistical agency — though its lustre has been tarnished in recent years by budget cuts, cancelled data programs and series, and the nonsense of the Harper government’s libertarian crusade against the long form census. The problems this week around its Labour Force […]
In my many years documenting and critiquing the overblown claims of free trade proponents about the supposedly self-regulating efficiency-promoting mutually-benefiting effects of globalization, I’ve encountered some real doozies.
The controversy regarding the mathematical errors in the Ontario PCs’ “million jobs plan” went viral last week, after a critical mass of economists weighed in to confirm that the party had indeed badly misinterpreted the findings (by as much as 8 times over) of their own consultants’ studies. This sparked a firestorm of media coverage, […]
Further to my post yesterday about how the Ontario PCs have vastly overstated their own consultants’ estimates of the number of jobs produced by their various policy proposals (including lower corporate taxes, lower electricity prices, interprovincial free trade, and regulatory reduction), some have asked me about precisesly how the Conference Board report simulated the corporate tax […]
When Ontario PC leader Tim Hudak kicked off the current election campaign with a plan to “create a million new jobs” in Ontario, he tried to dress up the platform launch with a certain scientific respectability. The party released a “technical backgrounder” showing the precise composition of the million new jobs, along with two commissioned consultants’ […]
When he announced the sudden moratorium on new Temporary Foreign Workers (TFW) in the restaurant industry, Employment and Social Development Minister Jason Kenney tried to reconcile this dramatic about-face with his government’s long-standing support for the whole idea of migrant guest-workers. So while strongly criticizing a few particular restaurants for their high-profile “abuses” of the program […]