I’ve just written a ‘top 10’ overview of the recent Alberta budget. Points raised in the post include the following: -The budget lays out a four-year strategy of spending cuts, letting population growth and inflation do much of the heavy lifting. -After one accounts for both population growth and inflation, annual provincial spending in Alberta by 2022 is projected to […]
Read moreBook Review Adam Tooze. Crashed: How a Decade of Financial Crises Changed the World. Viking. New York. 2018 The global economic crisis is now more than a decade old, and is far from definitively behind us. Indeed, many fear, with good reason, that the recent, uneven and lethargic global recovery may soon come to an end, and that the next […]
Read moreI’ve just written a blog post about social assistance in Canada. Points raised in the blog post include the following: -Social assistance has two contradictory objectives: 1) to give people enough money to live on; and 2) to not give people enough money to live on. -Very few immigrants receive social assistance (relative to the general population). -Several Canadian provinces […]
Read moreAllan Moscovitch and I have co-authored a blog post that looks at the history of child benefits in Canada. Points made in the blog post include the following: -Child benefits can reduce both poverty and homelessness. -When child benefits began in Canada after World War II, one major motivating factor for the federal government was to avoid recession. Another was […]
Read moreI have an opinion piece on Saskatchewan’s recent budget in the Regina Leader-Post. Points raised in the opinion piece include the following: -Reductions in personal and corporate income taxes help the rich more than the poor (and this budget cut both personal and corporate income taxes). -Increases in sales tax hurt the poor more than the rich (and this budget […]
Read moreThis year’s Alternative Federal Budget (AFB) was released on March 9. I was proud to be the primary author of its housing chapter (that chapter is available in English here and in French here). The first AFB exercise began in 1994, with the first AFB being published in 1995. That involved a joint effort between the Canadian Centre for Policy […]
Read moreThis fall, Canada’s Parliament will debate a proposal to expand the Canada Pension Plan (CPP). And over at the Behind the Numbers web site, I’m co-author of a blog post titled “Ten things to know about the CPP debate.” The blog post’s other co-authors are Allan Moscovitch and Richard Lochead. Points raised in the blog post include the following: -CPP […]
Read more“I don’t read newspapers, I don’t watch the news. I figure, if something important happens, someone will tell me.” Justin Trudeau’s surprising confession in a 2001 Globe and Mail essay (“Something I’m Passionate About”, Feb.3) raises three questions: 1) does he read newspapers and watch the news now?; 2) if yes, does he read the Report on Business, Wall Street […]
Read moreThis is a guest blog post from Mario Seccareccia, Professor of Economics, University of Ottawa. ——- Since the October 2008 federal election, Canadian politicians have been struggling to come to terms with what to all accounts has turned out to be a “lite” version of the 1930s, whose major difference is that today we have a much larger government sector […]
Read moreLouis-Philippe Rochon Associate Professor, Laurentian University Co-editor, Review of Keynesian Economics Follow him on Twitter @Lprochon First, it was his enthusiastic support and admiration of Margaret Thatcher; now it is his overzealous support of balanced budgets. What’s next? What is Mr. Mulcair ready to do to get the keys to 24 Sussex? How close is he willing to get […]
Read moreLouis-Philippe Rochon Associate professor of Economics – Laurentian University Founding co-Editor – Review of Keynesian Economics Follow him on Twitter – @Lprochon This story from the CBC on August 14, 2015. See story here. With the NDP riding high in a number of national polls at the moment, there is an increasingly real possibility the New Democrats will form […]
Read moreLouis-Philippe Rochon Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics Follow him on Twitter @Lprochon Mr. Harper and the Conservatives never miss an opportunity of reminding Canadians that we should vote for them in October in order to ensure economic prosperity in the future. At the heart of this argument is the belief that they are the best […]
Read moreHarper’s economics and geocentrism Louis-Philippe Rochon Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics What a month it’s been. While the first half of 2015 has not been kind to Canadians and the economy, July has proven to be worse. On the economic front, we have had a tumultuous month capping a tumultuous first half of the year. When […]
Read moreMr. Harper’s recession Louis-Philippe Rochon Associate professor of economics, Laurentian University Co-Editor, Review of Keynesian Economics Short of a miracle, Canada is officially in recession, which I predicted back in January. But this recession was wholly avoidable had Mr. Harper and his government abandoned their wicked policies of austerity in favour of a growth-oriented fiscal expansionary policy. Bottom line: […]
Read moreLouis-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 economic growth. This advice was […]
Read moreIs another recession on its way? Louis-Philippe Rochon Associate Professor, Laurentian University Co-editor, Review of Keynesian Economics Canada’s economy shrank in the first quarter by a whopping 0.6%. Is this the beginning of a new recession? Recessions of course are defined as two consecutive quarters of negative growth. Now we learn today that Canada’s economy shrank between January and […]
Read moreLouis-Philippe Rochon is associate professor of economics at Laurentian University and co-editor of the Review of Keynesian Economics. Originally published by CBC. See here. In its April budget, the federal government announced it had succeeded in balancing the budget. Such an achievement, however, will prove to be at best a Pyrrhic victory. History shows austerity and balanced budgets never work […]
Read moreLouis-Philippe Rochon Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics With the tabling of a new federal budget on April 21, the Conservatives are trying to reinvent themselves as good economic managers, stalwart of sound finance. But after almost nine years in office, the data simply does not confirm this story. Mr. Harper’s more recent optimistic façade is […]
Read moreCross-posted from my blog. I’ve been banging the drum of “slow-motion austerity” for a while and little in the 2015 federal budget suggests any change from the pattern of death by a thousand cuts. This budget is another is a series of unspectacular austerity budgets. Taken together, however, the cuts rapidly add up and budgets become more remarkable for the […]
Read moreCONSERVATIVES MAKING A MOCKERY OF WORKING CANADIANS Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Co-Editor, Review of Keynesian Economics Today, with great fanfare, Minister of Finance, Joe Oliver, tabled his much-delayed budget in the House of Commons. Despite the government’s best effort to confuse Canadians with tales of terrorism, the economy and job creation remains by far the […]
Read moreLABOUR MARKET DEREGULATIONS NOT WORKING: IMF See original CBC column here. Recent — and potentially watershed — International Monetary Fund (IMF) documents have cast doubt on the merits of labour market deregulation of the last three decades, with important consequences for Canada. But will anyone listen? The last 30 years have not been kind to economic growth and wealth creation. The economic “successes” of the neo-liberal era, from […]
Read moreBalanced budget legislation will be disastrous for Canada Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Co-Editor, Review of Keynesian Economics Twitter @LPROCHON Finance Minister Joe Oliver’s latest muses about introducing balanced budget legislation is the worst policy for Canada, and will doom us to European-style crises and rob future generations of prosperity. While the details of the specific […]
Read moreTHE FEDERAL BUDGET AND CANADA’S ANNUS HORRIBILIS See Original post here for the CBC. Canada’s Finance Minister Joe Oliver announced a new – and long overdue – federal budget for April 21. With the Canadian economy doing so badly, this budget will be crucial. Will the minister do the right thing and give Canadians a budget that will stimulate the […]
Read moreLouis-Philippe ROCHON Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics Follow him on Twitter @Lprochon With data on the performance of Canada’s labour market released today, many economists and pundits on both sides of the 49th parallel are arguing that what seems to be emerging is two very clear and different paths for the US and Canadian economies. […]
Read moreThe Fredericton Daily Gleaner published an op-ed I wrote about how the province doesn’t have a structural deficit, despite the government claiming it does. The commentary piece is behind a pay wall so I’ve copied it below. Last month, CUPE New Brunswick also published a paper I wrote on this issue, Deficit Déjà Voodoo: is New Brunswick really headed off the […]
Read moreJean-Francois Ponsot Associate Professor of Economics, Université de Grenoble (France) and Louis-Philippe Rochon Associate Professor of Economics, Laurentian University (Canada) Co-Editor, Review of Keynesian Economics ___________________ The final agreement between Greece and the Eurogroup is a disappointment for anyone who held high hopes that Greece would have taken away more than a mere extension to the existing deal. In the […]
Read moreLOUIS-PHILIPPE ROCHON Associate Professor, Laurentian University Co-editor, Review of Keynesian Economics Follow him on Twitter @Lprochon ________________________ As I have said before (see here) and will say again: any solution to Greek’s tragedy, which involves keeping the Euro as a currency is a second-best solution, unless the appropriate institutional changes are adopted. Anything short of this will simply maintain the […]
Read morePosted earlier as an opinion piece for CBC. See original post here (this post slightly modified from original) By Louis-Philippe Rochon Follow him on Twitter @Lprochon Much was at stake earlier this week when finance ministers from G20 countries met in Istanbul to discuss Greece and the state of the world economy in light of recent downgrades in world growth expectations. […]
Read moreThis is a guest blog post from Louis-Philippe Rochon. Follow him on Twitter @Lprochon. — What a tumultuous few weeks we witnessed in Greece. Though the victory of Syriza was ill-received in particular in Germany and the European Central Bank, it was nonetheless a resounding victory for democracy. This victory may now spill into other countries and give much credence […]
Read moreIt’s a bit of a headscratcher. First, Ontario Conservative leader Tim Hudak builds his whole campaign around a promise to create one million new jobs in Ontario over eight years, then one of his first campaign commitments threats  is to reduce the number of Ontario government employees by 100,000, together with a wage freeze for every government workers and lower spending […]
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