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Archive for 'inequality'

Is r>g in Canada?

Here is a little bit of rainy day economic doodling that may be of interest. Piketty famously argues that there is a tendency for r – the rate of return on capital- to exceed g- the rate of growth of income. If r>g, wealth and income inequality will grow inexorably since ownership of capital and […]

Alex Usher is Wrong on Tuition Fees

Earlier today, over at the Academic Matters web site, I addressed the issue of whether Canada’s current system of high tuition fees and means-tested student aid is in fact “progressive.”  My post was a response to a Alex Usher‘s May 9 blog post.  My blog post can be found here.

Review of Capital in the Twenty-First Century by Thomas Piketty

Capital in the Twenty-First Century by Thomas Piketty (Belknap Press, 2014) is the economics publishing sensation of our times, especially in the United States. Currently the number one seller on the US Amazon web site and widely debated in the “blogosphere”, this long book is being favourably compared to the seminal works of Adam Smith, […]

Pikkety on Capital in the 21st Century (Tom Palley)

I have just finished Piketty’s magnum opus which is clearly one of the most important economic books of our time. I am still trying to digest the theoretical argument. Below I provide a link and intro to an important commentary by Tom Palley who argues that Pikkety is too close to the neo classical paradigm […]

Flaherty’s Legacy: Ideological, reckless and just plain lucky

This piece was originally published at the Globe and Mail’s online Report on Business feature, EconomyLab.   There are two reasons why it is difficult to comment on the legacy of a finance minister. 1) It is a tremendously challenging job, anywhere, any time. Stewarding one of the largest economies in the world through a […]

IWD 2014: The “girl effect” reduces inequality, but Canada can’t coast on that much longer

Every year when International Women’s Day rolls by, I can’t help but reflect on power, how it’s shared, and how women use the power they have. This year, I am struck by women’s power to reduce inequality, and not just to help ourselves. Women are key to reducing income inequality. It’s been dubbed the girl effect, […]

The labour share and income inequality

All the recent talk about the Canada’s shrinking middle class and rising income inequality got me thinking that it might be a good time to take a fresh look at a somewhat neglected economic concept: the labour share of income. The labour share of income hopes to measure the portion of the economic pie going […]

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 […]

Income Splitting Déjà Vu

This blog’s unofficial slogan has been “Tomorrow’s conventional wisdom, today.” After this week’s Conservative backpedaling on income splitting, we may need to change it to “Today’s conventional wisdom, seven years ago.” Or we could just stick with “You read it here first.” My first-ever blog post, Income Splitting Redux, argued that this tax policy “would benefit […]

Collective Bargaining and Poverty Reduction: OECD Data

My union Unifor is currently undertaking an important “Rights at Work” campaign, which involves a national tour of meetings with our officers and local leaders and stewards, followed by a membership canvass and community outreach effort, all aimed at beating back the current attack on fundamental labour rights coming from conservatives at all levels in […]

Do High Tuition Fees Make for Good Public Policy?

This afternoon I gave a presentation to Professor Ted Jackson’s graduate seminar course on higher education, taught in Carleton University’s School of Public Policy and Administration.  The link to my slide deck, titled “The Political Economy of Post-Secondary Education in Canada,” can be found here. Points I raised in the presentation include the following: -Tuition […]

Canada’s Luxury Index is through the roof

Numbers season is over but good inequality data is still missing. January sees us regularly bombarded with a whole range of economic statistics about the previous year. GDP growth: likely 1.7%, low but looking brighter for next year. Unemployment: 7.2%, low but lots of workers leaving the job market altogether as the employment rate stagnates. […]

The relentlessly hypocritical Gwyn Morgan

Another column by Gwyn Morgan in the Globe and Mail and another case of a 0.1 percenter telling the rest of us to “Do as I say, not as I do.” This time, it’s Gwyn recycling trash from the CFIB and Fraser Institute to claim defined benefit pensions for public sector workers are too generous […]

Trickle Down Would Work If It Weren’t For The Sponges At The Top

This piece was first published in the Globe and Mail’s Economy Lab. Five years after a global economic crisis unleashed chaos on markets everywhere, income inequality has become an inescapable political and economic issue, in Canada as elsewhere. That’s because of mounting evidence that the increasingly skewed distribution of gains from economic growth slows future growth potential, […]

When Good Data Goes Bad: The NHS2011

This piece was  published today in the Globe and Mail’s Economy Lab.  Two findings stand out in the National Household Survey (NHS) data released Wednesday, both critical in this post-recession era of uncertainty: 1) A quarter of Canadian households spent 30 per cent or more of their pre-tax income on shelter, the official measure of housing affordability. […]

Funding Cuts to Alberta’s PSE Sector: There Are Alternatives

It has recently been reported that the University of Alberta wants to “reopen two-year collective agreements” with faculty and staff “to help the university balance its budget…” This appears to be in direct response to Alberta’s provincial government announcing in its March budget that there would be a “7% cut to operating grants to universities, […]

Linda McQuaig for Toronto Centre

For the “You Read It Here First” file, I wrote on Friday: Toronto Centre needs a candidate with a track record of advancing more substantive and more progressive positions on economic issues. Specifically, the NDP should nominate someone who can take on Freeland regarding inequality and what to do about it. Today, Linda McQuaig announced […]

Is Chrystia Freeland Progressive?

Chrystia Freeland, The Globe and Mail’s candidate in Toronto Centre, recently wrote a book about inequality (which I have not yet read) and is supposed to “bring fresh thinking to the Liberal Party’s economic team.” She has already attracted a few jabs from right-wingers Terence Corcoran and William Watson. But is she progressive? The Globe […]

Women On Top, By the Numbers

On the occasion of International Women’s Day, we ask: Are more women making it to the top in Canada? And what does that mean for the 100 per cent? The 2013 edition, by the numbers. (All data are most recently available statistics.) 1 out of 5: 21 per cent of the people in the top […]

Fairness by design: a framework for tax reform in Canada

A new CCPA (National) report by Marc Lee and myself argues that Canada’s tax system needs a “fairness” overhaul and presents a framework for progressive tax reform. Those of you who have been following our tax work so far will find this study a great complement to the BC Tax Options Paper. Tax policy is […]

Tax and the Top 1%

Further to Toby’s comments, Miles Corak has posted an excellent commentary on the new numbers on high incomes, together with a spread sheet showing average effective tax rates by income group from the 1980s. The big story is that the average effective tax rate for the very affluent has been stable since the early 1980s […]

Canada’s bloated 1 per cent

Statistics Canada’s release on the escalating incomes of the top 1 per cent gained a lot of media coverage — and also provoked some very defensive reactions by major organs of the Canadian media. This included an almost rabid column by Financial Post editor Terence Corcoran accusing Statistics Canada of engaging in class warfare and, in […]

Wealth Inequality and Neo Liberalism

I have a commentary posted on the Broadbent Institute web site, arguing that inequality of wealth fundamentally undermines the argument that market rewards are “fair.” http://www.broadbentinstitute.ca/en/blog/andrew-jackson-distribution-wealth-implications-neo-liberal-justification-economic-inequality

Why The Income Inequality Deniers Are Wrong

This article was published in an abridged form today in the National Post. http://fullcomment.nationalpost.com/2012/12/21/armine-yalnizyan-sorry-andrew-coyne-but-income-inequality-is-a-real-problem/   I like this opening better so I posted it here. You couldn’t have made it through 2012 without running into a story about income inequality.  Chances are, it made you think about how you fit into the story.  That’s “entirely constructive”, […]

Coyne on Inequality

Letter to the Editor Ottawa Citizen, December 18  Andrew Coyne (December 14) leaps on a study by TD Economics to claim that “income inequality in Canada has remained more or less flat since the mid 1990s” and that the big surge in the rising income share of the top 1% took place before 1998.  As […]

The Limits of Demography

Here is a piece I wrote for today’s Globe Economy Lab re the Department of Finance report on the costs of an aging society. The key point is that the mainstream doom and gloom projections of the costs of falling labour force growth  ignore the positive impacts which can be expected as and when we […]

Time to Rethink The Way We Fund Higher Education

This September, like every year, a new group of high school graduates headed to college or university to pursue higher education. But today’s generation of students is in for a very different experience from the ones their parents had. On campuses across the country shiny new buildings are popping up, bearing corporate logos or the […]

Income Inequality & twitter

Armine Yalnizyan had a great twitter debate with Andrew Coyne on poverty and inequality that Trish Hennessey storified here: http://bit.ly/QwHGJB I think it bears repeating that GDP growth has far outpaced any growth in median and average incomes for Canadians, as you can see in the graph below. (2010 dollars, average and median income in $’s, […]

Back of the Line Buddy

Posted below is my column from today’s Globe & Mail regarding this nefarious practice of providing “priority lanes” for higher-income customers — even (in the case of airport security screening) for a PUBLIC service that we all pay the same for!  And if you wonder why you get so pissed off when the high-flyer jumps […]

To address health inequalities, look beyond the role of individual responsibility

A new report by the Canadian Medical Association provides a timely reminder that money buys better health, even in a country with a universal public healthcare system. A poll commissioned by the CMA found a large and increasing gap between the health status of  Canadians in lower income groups (household income less than $30,000) and […]