The Progressive Economics Forum

I am enjoying Tom Palley’s new book – and would post an enthusiastic review except for the fact that I have been unable to find the time to finish it. Certainly a very clear-headed take on the fundamental economic – and political – transformations that will have to take place if we are to escape [...]

In the context of student protests over Quebec tuition fees, my friend Luan Ngo has just written a very informative blog post on Quebec’s fiscal situation. While I encourage readers to read his full post, I do want to use the present space to make mention of three important points he makes: -On a per [...]

Take a look at the picture below. Take it in.  Now scan your eyes to the far right…there, in faded blue you’ll see the initials MMT.  Now zoom out.  Take it in again.  Notice: a few hundred people.  Spending their time learning about an economic theory called Modern Monetary Theory or MMT and its application [...]

Empires vary: of conquest, of settlement, of trade; contiguous and maritime. Empires abound: a long list, longer even than many books on empire admit to. Wikipedia lists over 200 empires from the Akkadian Empire of Sargon the Great in the 24th century BCE to today’s American Empire. In terms of territory the largest are the [...]

There is a special, free on line, issue of the Cambridge Journal of Economics with what look to be very interesting contributions from the progressive side of the spectrum.

Here is the first newsletter of what promises to be a very worthwhile initiative.

Starting today I will be on a regular weekly biz panel for the Lang and O’Leary show, every Thursday night. The panel will take on two six minute segments to discuss the big economic stories of the day. Today’s proposed topics – the Eurozone mess, whither Canada’s GDP, is Occupy a media invention/will it hold [...]

Below is the text of the obituary for Gideon Rosenbluth, a renowned progressive economist and inspiration to us at the PEF, and a past president of the Canadian Economics Association. **** Gideon Rosenbluth January 23, 1921 ­ August 8, 2011 Gideon Rosenbluth died suddenly in Vancouver while swimming with a friend on a sunny day. [...]

Last week, Travis noted Terry Corcoran’s strained argument that over-regulation of banks is what ails the global economy. Terry’s next column went even further off the deep end, endorsing the hard-money libertarianism of gold bugs like Eric Sprott. Today’s column is a full-blown defence of the US Tea Party. I have the following response to [...]

For those of you out there who have not seen it, I recommend Social Europe Journal.  There is a lot of good progressive economic commentary by leading European economists and policy types of a social democratic persuasion, as well as frequent commentary from Stiglitz, Reich and other US economists. Some good recent columns and blog [...]

The ubiquitous Ish Theilheimer of the left-wing on-line news site Straight Goods has written a very generous profile of the Progressive Economics Forum. He hung out at last weekend’s CEA meetings at the University of Ottawa for a while, and caught a few PEF members (including myself, David Robinson, and Brendan Haley) on the way [...]

“Exiting from the Crisis: Towards a Model of More Equitable and Sustainable Growth” is a new book (over 270 pages) now available on line. This volume of essays from global trade union leaders and economists is the product of the Global Unions Taskforce on a New Growth Model, a joint project of the Trade Union [...]

Today marks the launch of a new global organization committed to plurality and ethics in the economics profession, the World Economics Association.

The Public Policy Forum is a centrist NGO based in Ottawa whose mandate is to promote dialogue and engagement among the major policy stakeholders in Canada. Its current President is David Mitchell, former leader of the B.C. Liberals, who is a very decent, sincere, bridge-building person. Every year the PPF hosts a big dinner in [...]

The following is the press release of a new initiative to examine the future of monetary policy, based on the core sentiment that growth is not enough. “Dynamic, stable and sustainable” is the goal, for the economy… and monetary policy. Full employment is featured as a key – and largely ignored – objective of central [...]

The following appeared in the National Post today. We’re in the last week of a federal election campaign, and every party wants you to believe they’re there for the hardworking families of a middle class under enormous pressure. That’s you, right? The idea of the middle class resonates, because it is a notion we all [...]

It took me a long time to write my first blog. It was here, and it was in response to the global economic collapse as it was occurring in real time, in late September 2008. For economists, the blogosphere is a rapid response world, and speed can kill. I worried about getting caught undone in [...]

No politician is talking about it, but there is a growing debate about corporate tax cuts, and it’s not about whether they should go up or down 1.5 percentage points. It’s about getting rid of them. Zero corporate income taxes. It is fast becoming the legendary goal for tax reform in some opinion-makers’ minds, and [...]

Book Review of Humanizing the Economy: Cooperatives in the Age of Capital, by John Restakis, New Society Publishers, 2010. The economy is about business, right? Sure, we have a dynamic mixed economy, and most people support decent social programs and government intervention to protect the environment or to improve living conditions for the poorest. In [...]

Jack Layton unveiled the NDP’s policy platform today.  Among other things, it promises to eliminate the deficit (i.e. balance the federal budget) within four years.  I’m not sure it should. Several years back, I had the opportunity to take a directed reading course from John Smithin.  In addition to being a long-time member of the [...]

Iglika reported to me that Kevin Milligan made the argument in favour of the HST that its presence was economically beneficial because it induces additional investment on the margin, as projects that previously did not meet a certain profit threshold would become real investments. This is a net gain (forget about who benefits from those [...]

The “science” of economics has for most of its history relied on theory more than experimentation, which is quite literally the testing grounds of all “real” science. The birth of behavioural economics in the 1970s permitted economists to start testing theory rigorously, by borrowing empirical methods from psychology and other social sciences to lift the [...]

I do a lot of reading and writing as part of my job. But though I work for a research policy institute, I find I have little need for academic journals, and if anything, academic journals have made themselves less and less relevant over time. It used to be the case that academic journals represented [...]

Most people reading this blog already get it that neoclassical economics is deeply flawed. But I’m still amazed at its persistence in the classroom and in the blogosphere. My blood boils when I see the standard neoclassical workhorse brought out of the stable when really it ought to be put to pasture. In a nutshell, [...]

There is a new economics blog in town.  http://www.3dpolicy.ca It is put together by former Finance Deputy Minister Scott Clark and former Director of Fiscal Policy, Peter Devries.  I disagree with their fiscally very cautious line, but this is highly informed commentary on the numbers – with a major piece on the recent Economic and [...]

Here’s a new take on bringing economic theory to the masses — a rap battle between Keynes and Hayek. What’s amazing about it is the amount of solid (if not plain nerdy) content this video packs into such a short time. It’s fun to watch for sure (very high production values), but you get that [...]

At the end of May in Quebec City at the annual Canadian Economics Association conference, the PEF awarded the second John Kenneth Galbraith Prize in Economics to John Loxley. Below is the full text of John’s Galbraith Lecture (pdf version with proper footnotes and formatting here). Congrats again to John for a lifetime of amazing [...]

The Canadian Council for International Cooperation (CCIC) – the leading national voice of civil society international development and anti poverty organizations – appear to have lost the two-thirds of their funding which came from CIDA. This is yet another example of the Harper government refusing to fund independent research and advocacy. Over the last while, [...]

I am highly recommending Nancy Folbre’s new book, Greed, Lust & Gender: A History of Economic Ideas. It has a slightly racy title (at least for an economics book) and my initial reaction was that the ‘lust’ focus was a bit forced and seemed to be pandering to the need to sell. Greed and gender [...]

Progressive economists everywhere should say a thank you this week to Wynne Godley, who passed away May 13.  He started out his career as an economist working for the U.K. Treasury, then got to know Nicholas Kaldor and moved over to Cambridge to help establish the Department of Applied Economics there (from which he retied in [...]