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  • How to make NAFTA sustainable, equitable July 19, 2017
    Global Affairs Canada is consulting Canadians on their priorities for, and concerns about, the planned renegotiation of the North American Free Trade Agreement (NAFTA). In CCPA’s submission to this process, Scott Sinclair, Stuart Trew and Hadrian Mertins-Kirkwood point out how NAFTA has failed to live up to its promise with respect to job and productivity […]
    Canadian Centre for Policy Alternatives
  • What’s next for BC? July 4, 2017
    Five weeks ago the CCPA-BC began a letter to our supporters with this statement: “What an interesting and exciting moment in BC politics! For a bunch of policy nerds like us at the CCPA, it doesn’t get much better than this.” At the time, we were writing about the just-announced agreement between the BC NDP […]
    Canadian Centre for Policy Alternatives
  • Could skyrocketing private sector debt spell economic crisis? June 21, 2017
    Our latest report finds that Canada is racking up private sector debt faster than any other advanced economy in the world, putting the country at risk of serious economic consequences. The report, Addicted to Debt, reveals that Canada has added $1 trillion in private sector debt over the past five years, with the corporate sector […]
    Canadian Centre for Policy Alternatives
  • The energy industry’s insatiable thirst for water threatens First Nations’ treaty-protected rights June 21, 2017
    Our latest report looks at the growing concerns that First Nations in British Columbia have with the fossil fuel industry’s increasing need for large volumes of water for natural gas fracking operations. Titled Fracking, First Nations and Water: Respecting Indigenous rights and better protecting our shared resources, it describes what steps should be taken to […]
    Canadian Centre for Policy Alternatives
  • Betting on Bitumen: Alberta's energy policies from Lougheed to Klein June 8, 2017
    The role of government in Alberta, both involvement and funding, has been critical in ensuring that more than narrow corporate interests were served in the development of the province’s bitumen resources.  A new report contrasts the approaches taken by two former premiers during the industry’s early development and rapid expansion periods.  The Lougheed government invested […]
    Canadian Centre for Policy Alternatives
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Archive for 'capitalism'

Can Capitalists Afford a Trumped Recovery? Guest post by Jonathan Nitzan & Shimshon Bichler

This provocative guest post submitted by Jonathan Nitzan and Shimshon Bichler, was published earlier this year on their bnarchives website.  Nitzan, professor of political economy at York University, and Bichler, who teaches political economy in Israel, are authors of Capital as Power, a Study of Order and Creorder and numerous related articles. To quote from the […]

The Return of the Gilded Age: Consequences, Causes and Solutions

On April 8, I had the honour of delivering the Harry Kitchen Lecture in Public Policy at the invitation of the Department of Economics at Trent University. I took the opportunity to offer a broad reflection on economic inequality, arguing that while inequality is inherent in capitalism, too much inequality undermines economic as well as […]

THE EURO, THE DRACHMA AND GREECE: limited options in an impossible situation

Jean-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 […]

Grocery Wars: Lessons from Canada’s Changing Retail Landscape

As Target Canada tumbled into bankruptcy, Loblaw announced that its fourth-quarter profits more than doubled. What can be learned from this tale of two retailers? The main reason for Loblaw’s surge was its acquisition of Shoppers Drug Mart last March, which turned it into Canada’s largest grocer and pharmacy chain.  Shoppers contributed $3 billion to […]

Seccareccia on Greece, Austerity and the Eurozone

Over at the blog of the Institute for New Economic Thinking, Ottawa U professor Mario Seccareccia has given an interview titled “Greece Shows the Limits of Austerity in the Eurozone.  What Now?” The interview can be read here. Enjoy and share:

Responsibility for Housing

On Monday I gave a guest presentation to Craig Jones‘ graduate seminar class in Carleton University’s School of Social Work.  My presentation sought to answer two questions: 1. Why should government play a role in creating affordable housing? 2. Which level of government is responsible? With those questions as a backdrop, here are 10 things […]

Not Trickledown But Gush-Up

“Trickledown hadn’t worked. But Gush-Up certainly has. That’s why in a nation of 1.2 billion, India’s one hundred richest people own assets equivalent to one fourth of the GDP.” [Yesterday’s election results only promise to worsen that.] That’s how the extrordinary writer-and-activist Arundhati Roy, one of the world’s leading public intellectuals, describes contemporary capitalism in […]

Why France’s Economic Problems Matter

I’ve had the good fortune to live in France for the past 10 months on a year-long sabbatical and therefore been able to witness firsthand the travails of the Socialist government as it wrestles with the country’s economic woes. Indeed, the unpopularity of president Francois Hollande was exposed a couple of weeks ago after nation-wide […]

What Have we Learned From the Financial Crisis? Part 4: Bernard Vallageas

What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 4 of 5 sequential blog entries. – Bernard Vallageas Vice-président de l’Association pour le Développement des Etudes Keynésiennes […]

What Have we Learned From the Financial Crisis? Part 3: Mario Seccareccia

What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 3 of 5 sequential blog entries. – Mario Seccareccia Professor of Economics, University of Ottawa Editor, International […]

What Have we Learned From the Financial Crisis? Part 2: Louis-Philippe Rochon

What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 2 of 5 sequential blog entries. – Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Founding co-editor, […]

What Have we Learned From the Financial Crisis? Part 1: Marc Lavoie

What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. Parts 2, 3, 4 and 5 will follow in subsequent blog posts. – Marc Lavoie Professor of Economics, University of Ottawa […]

Why the Minimum Wage Debate Isn’t Going to Go Away

Yesterday I tweeted this: <blink> Gap will raise minimum hourly pay Walmart “looking” at support of min wage raise In honour of the momentum, I am posting the piece I wrote for Economy Lab a while back, and including the numbers that drive the chart that attracted quite a lot of attention. There is a […]

Capital Gains and the Incomes of the Wealthy

Yesterday’s release from Statistics Canada on the income share of the wealthy generated some interesting coverage and commentary.  It reported that the top 1%’s share of total income in Canada remained steady in 2011 in Canada, at 10.6 percent — but still significantly higher than in the 1980s. Most observers did not mention, however, that this oft-cited […]

The Blackberry mess and what Canada needs

Another year, another dead Canadian tech giant.  Blackberry was sold yesterday for scrap to the Toronto private equity firm Fairfax.  The purchase price of $4.7 billion is essentially valued at its cash of $2.6 billion and the value of its patents.  Blackberry’s active businesses are being valued at essentially nothing.  If Fairfax can stop the […]

The rise and fall (and rise?) of Blackberry – the story that just won’t quit

The rise and fall (and rise?) of Blackberry is a story that has gripped our attention, and not just because it affects so many Canadians. It’s because this tumultuous story has more plot twists than a thriller. Yesterday the company stole the spotlight yet again with news that its future might not be dashed after […]

Dead Money

Kudos to Bank of Canada Governor Mark Carney for raising the profile of the over $500 billion Canadian corporations are holding in excess cash surpluses and not investing in the economy, which garnered front page coverage (and kudos to the CAW for inviting him to speak.) It’s not the first time he’s raised this  concern. […]

Baskin-Robbins and the Walmartization of Ice Cream

It’s been an unusually hot summer, and soaring temperatures have boosted sales of that quintessential summer food, ice cream. But Baskin-Robbins has decided to shut its production facility in Peterborough, Ont., and lay off 80 workers because of…wait for it… increased demand! From the department of “wait, what?”, here’s the scoop behind this brain-freeze-inducing decision. […]

Labour Losing to Capital

The just-released OECD Employment Outlook – full text not available on line – has an interesting chapter on the sharp decline of labour’s share of national income in virtually all OECD countries over the past 30 years, and especially the last twenty years. The median labour share in the OECD fell from 66.1% in the […]

The Big Banks’ Big Secret

The CCPA today released my report: “The Big Banks Big Secret” which provides the first public estimates of the emergency funds taken by Canadian banks.  The report bases its estimates on publicly available data from CMHC, the Office of the Superintendent of Financial Institutions, US Federal Reserve, the Bank of Canada, as well as quarterly […]

In the Wake of the Crisis: Bully Capitalism

A shorter version of this article appears today at Economy Lab, the Globe and Mail’s on-line business feature.  Capitalism has entered an ugly new era, one that may work well for the shareholders of world, but not for the rest of us. I couldn’t help but notice that, on the very same day Caterpillar shuttered […]

Capitalism as a Matter of Faith and Twisted Logic

Larry Summers has contributed to a new Financial Times series on Capitalism in Crisis. It merits a read, as an example of tortured reasoning. Summers is the consummate insider neo liberal Democratic economist. A  leading academic,  he was chief economist of the World Bank, acolyte and then successor to Robert Rubin as the US Secretary […]

Other People’s Money

“Other People’s Money” by Justin Cartwright (Bloomsbury, 2011) is to the novel what the wonderful “Margin Call” is to film – a fictionalized but convincing account of high finance and the crisis of 2008. In this case, the central characters are the old money family owners of a private London investment bank which has incurred […]

Challenging capitalism: a 12-step program

Over a year ago, I posted “What are the Game Changers?“, an attempt at sparking some strategic thinking for the broader left. Now that we’ve had a month of Occupation, building on the original Occupy Wall Street action, I’ve been wanting to put these ideas back on the table, so below I recycle much of […]

The Privatization of Social Housing

Last weekend, I spoke on a panel at the Annual Conference of the Ontario Non-Profit Housing Association.  The panel was inspired in large part by the recent debate in Toronto over Mayor Rob Ford’s attempt to sell social housing units to private buyers.  The panel, entitled “To Privatize or Not to Privatize? That is the […]

First We Take Manhattan….. What Occupy Wall Street Could Mean

This is not the stuff of usual protests. Over the past month, a little idea from a Vancouver outfit has mushroomed into a cross-continent movement. Occupy Wall Street, kicked off by Adbusters in July and coming to Toronto this weekend, has already spread to 70 American cities and is going global as protestors challenge society […]

Occupy Wall Street

In search of some background on the  “Occupy Wall Street” movement, I recently caught up with Rick Wolff.  He is a progressive economist and rising alternative  media celeb in NYC  (you can hear  his entertaining weekly radio discussion of economic news at http://rdwolff.com/).  He (with others like Stiglitz) among other spoke to the Occupy Wall […]

Money Runners for Marx

On Bloomberg today is a piece by George Magnus, senior economic advisor at UBS, on the relevance of Marxian ideas. http://www.bloomberg.com/news/2011-08-29/give-marx-a-chance-to-save-the-world-economy-commentary-by-george-magnus.html Policy makers struggling to understand the barrage of financial panics, protests and other ills afflicting the world would do well to study the works of a long-dead economist: Karl Marx. The sooner they recognize […]

Is Capitalism Terminally Ill?

Today (June 15th) the Toronto Star broke news that the NDP was planning to drop the term “socialism” from its party’s platform. This was a mere formality of what had been in existence for decades: the party hasn’t been “socialist” in any shape or form for a very long time. On the very same day, […]

Does Capitalism Save Lives?

I was watching CNBC and happened to see this panel about how the number of Americans killed by natural disasters has declined over time. It was also noted that, in early 2010, fewer people died in Chile’s earthquake than in Haiti’s earthquake. The discussion quite reasonably outlined how improvements in emergency preparedness, building codes, and […]