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 Co-Editor, European Journal of Economics […]

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More on Secular Stagnation

Tom Palley has an interesting piece on his blog re differing approaches to the theme of secular stagnation, drawing a distinction between Marxist and structural Keynesian perspectives. As he notes, neo liberals such as Summers  have got on the bandwagon without really exploring in depth the roots of the problem.

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The Staple Theory @ 50: Mel Watkins

We now present the final installment in our autumn-long series of special commentaries marking the 50th anniversary of the publication of “A Staple Theory of Economic Development,” the classic article by Mel Watkins published in the Canadian Journal of Economics and Political Science in 1963.  We have invited Mel himself to provide a rejoinder to the series, reflecting on the […]

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The Staple Theory @ 50: Jim Stanford

Winter is now officially upon us, and so it is time to conclude our autumn-long series of special commentaries marking the 50th anniversary of Mel Watkins’ classic article, “A Staple Theory of Economic Development.” To wrap up the series, I would like to throw my own views into the brew.  I argue here that Watkins’ identification of the importance of […]

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The Staple Theory @ 50: Gerry Helleiner

One remarkable and gratifying aspect of our special series of commentaries marking the 50th Anniversary of Mel Watkins’ classic 1963 article on staple theory, is the interest and input it has generated from researchers and scholars who have applied Mel’s work in various capacities, in Canada and internationally.  One such contributor is Gerry Helleiner, a globally-recognized development economist and professor […]

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The Staple Theory @ 50: Duncan Cameron

We are nearing the end of our series of special commentaries celebrating the 50th anniversay of the 1963 publication of Mel Watkins’ classic article, “A Staple Theory of Economic Growth.”  Here is a fascinating historical retrospective on the influence of Innis and Watkins on Canadian political-economy by Duncan Cameron, President of rabble.ca, former President of the Canadian Centre for Policy […]

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Secular Stagnation

I have written a couple of pieces for Economy Lab in the Globe and Mail recently on the issue of secular stagnation. (Links below) The term was coined by the pioneering American Keynesian Alvin Hansen who argued that the US economy of the late 1930s faced a long period of stagnation due to a chronic, structural gap  between aggregate supply […]

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The Staple Theory @ 50: Marjorie Griffin Cohen

The latest entry in our continuing series of commentaries marking the 50th anniversary of the publication of Mel Watkins’ classic article, “A Staple Theory of Economic Growth,” we present the following contribution by Mel’s long-time collaborator, Marjorie Griffin Cohen.  Marjorie considers the gender dimensions of staple analysis. Staples Theory: Its Gendered Nature Marjorie Griffin Cohen Feminism was the unlikely route […]

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The Staple Theory @ 50: Alberto Gago

Here is an entry from the Global South in our continuing series of commentaries marking the 50th anniversary of Mel Watkins’ classic article, “A Staple Theory of Economic Growth.”  Dr. Alberto Daniel Gago teaches political economy at the National Universities of San Juan and Cuyo-Argentina.  He is a long-time collaborator of Mel’s, and has written extensively about the challenges of development […]

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The Staple Theory @ 50: Daniel Poon

We continue our special series of commentaries marking the 50th anniversary of the publication of Mel Watkins’ classic article, “A Staple Theory of Economic Growth,” with the following contribution from Daniel Poon.  Daniel is one of Canada’s leading experts on the theory and practice of industrial policy, and the successfull industrialization experience of East Asia. He is an economic affairs officer with […]

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The Staple Theory @ 50: Thomas Gunton

Here is the latest installment in our continuing series of commentaries celebrating the 50th anniversary of the publication of Mel Watkins’ classic article, “A Staple Theory of Economic Growth.”  This commentary is from Mel’s long-time collaborator Thomas Gunton, Director of the Resource and Environmental planning Program at Simon Fraser University.  Gunton’s submission, supplemented by an extensive bibliography, applies staples analysis […]

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Staple Theory @ 50: Daniel Drache

As part of our continuing series of commentaries marking the 50th Anniversary of the publication of Mel Watkins’ classic article “A Staple Theory of Economic Development,” we present the following submission by Daniel Drache, Professor Emeritus of Political Science at York University, and prolific writer on the nature of Canadian political-economic development.  Here Daniel considers whether the so-called “Northern model” […]

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The Staple Theory @ 50: Hugh Grant

As part of our continuing series of special commentaries marking the 50th anniversary of the publication of Mel Watkins’ classic article, “A Staple Theory of Economic Development,” we present the following contribution by Hugh Grant from the Economics Dept. at the University of Winnipeg.  Grant is a former student of Mel’s, and an important chronicler of the history of Canadian economic […]

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The Staple Theory @ 50: Marc Lee

As part of our continuing series of commentaries celebrating the 50th anniversary of Mel Watkins’ classic article, “A Staple Theory of Economic Growth,” we present the following commentary by Marc Lee, economist with the B.C. office of the Canadian Centre for Policy Alternatives.  Marc considers the implications — both economic and environmental — of the current infatuation with export LNG in […]

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The Staple Theory @ 50: Brendan Haley

As part of our continuing special series celebrating the 50th anniversary of the publication of Mel Watkins’ classic article, “A Staple Theory of Economic Development,” we present here an innovative and provocative commentary by Brendna Haley, Ph.D. candidate at Carleton University and author of several recent works on green industrial policy.  Haley argues there is an intersection between the “staples […]

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The Staple Theory @ 50: Dan Ciuriak

As part of our special series celebrating the 50th anniversary of the publication of Mel Watkins’ classic article, “A Staple Theory of Economic Development,” we present the following commentary by Dan Ciuriak.  Dan was the co-author of a provocative IRPP paper earlier this year on the need for a modern, revitalized industrial policy capacity in Canada.  Here he imagines how […]

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The Staple Theory @ 50: Gord Laxer

The next installment in our special series of commentaries celebrating the 50th anniversary of Mel Watkins’ classic article on staple theory, focuses our attention on the latest staple boom to remake Canada’s economy: the bitumen sands of northern Alberta.  The author is Gordon Laxer, founding Director of the Parkland Institute at the University of Alberta.

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The Staple Theory @ 50: Hugh Grant and David Wolfe

For the next installment in our special series of commentaries marking the 50th anniversary of Mel Watkins’ classic article, “A Staple Theory of Economic Development,” we provide excerpts from the preface to an edited collection of Mel’s writings assembled by Hugh Grant and David Wolfe, which provides some great personal perspective on Mel’s personality and passion. Mel Watkins as Teacher, Scholar […]

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The Staple Theory @ 50: Abe Rotstein

Here is the first contribution to our special series of commentaries marking the 50th Anniversary of the publication of “A Staple Theory of Economic Growth,” by Mel Watkins, in the Canadian Journal of Economics and Political Science.   The author, Abe Rotstein, was a colleague with Mel at the University of Toronto, and a founder of the Committee for an Independent […]

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The Staple Theory @ 50: Introduction to a Special Blog Series

In my job as economist for Unifor (and before that the CAW), I have had a long-time interest in more sustainable and sensible policies for managing Canada’s resource wealth. The challenge, given the lucrative but fleeting nature of resource booms, is to leverage Canada’s resource wealth in a manner that stimulates a more diversified, inclusive, and sustainable economy. Market-driven approaches, […]

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Wordly Philosopher

This is the title of a recently published biography of Albert Hirschmam by Jeremy Adelman, a Canadian who teaches history at Princeton University. Hirschman’s life as an economist – which spanned so much of the 20th century – is worth learning about for it makes us think hard about what has happened to economics over those years and what it […]

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Margaret Thatcher’s Economic Legacy

Here is my take from today’s Economy Lab in the Globe. To expand a bit on alternatives, my take is that the neo liberal turn at the end of the 1970s was one possible response to the stagflation crisis, which found mainstream Keynesian economics wanting. Left Keynesians such as Kalecki had long recognized that full employment capitalism with strong unions […]

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PEF Events at Annual Conference of the CEA

For the 15th consecutive year, the Progressive Economics Forum (PEF) is sponsoring its own events at the Annual Conference of the Canadian Economics Association (CEA).  This year’s Annual Conference of the CEA is taking place at HEC Montréal. PEF events will take place in the May 31 – June 2 period.  All information pertaining to PEF events can be found […]

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Albert Hirschman 1915-2012

Albert Hirschman died in December of last year at the grand old age of 97. I never had the pleasure of meeting him but I was an avid reader of his writings and much influenced by them. In the 1950s and 1960s, as the field of economic development emerged within economics, there was a debate between the advocates of balanced […]

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Best Books of 2012

Here are, in no particular order, my picks for the four best books of 2012 from a progressive economics perspective. Leo Panitch and Sam Gindin. The Making of Global Capitalism: The Political Economy of American Empire. (Verso). I suspect this book will become a classic. It is a rich and highly detailed  account of how states, and above all the […]

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Hayek and Contemporary Neo Liberalism

In the spirit of “know thy enemy”, I  recently read Hayek’s The Road to Serfdom. (Note to the anxious – I survived the experience, and remain a convinced left Keynesian democratic socialist.) Hayek is, of course, the totemic figure of neo liberalism who fought Keynes and Keynesian economics in the 1930s and is the intellectual figurehead of today’s “austerians”; the […]

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