Race and Earnings

Economists tend to be remarkably circumspect about racial discrimination in employment, and Statistics Canada is similarly loath to attribute differences in employment and earnings to racial status in other than the most nuanced way. Yet the evidence increasingly shows that racial discrimination is a matter of empirical fact in Canada, and not just a matter of perception on the part […]

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Low-Income Households Missing Alberta’s Boom

  Canadian Policy Research Networks have put out what looks like an interesting study. Their blurb follows. The study is at http://www.cprn.org/doc.cfm?doc=1757&l=en  Alberta is Canada’s hottest economy. Many Canadians are moving to Alberta drawn by its insatiable demand for skilled workers and professionals. Workers in Low-Income Households in Alberta, prepared for the Alberta Ministry of Employment, Immigration and Industry by […]

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More on the Myth of Big Government – Canada vs US

Erin’s recent post http://www.progressive-economics.ca/2007/09/12/government-size-canada-us/ prompted me to read Ferris and Winer’s interesting piece on the size of government in Canada and the US. The underlying data for the article have been usefully posted by the authors at http://http-server.carleton.ca/~winers/ (You’ll have to find the spread sheet posted at that site under author’s papers, and then look at the sheet for functional […]

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Meanwhile, at the Levy Institute

The Levy Institute, a Post-Keynesian think tank housed out of Bard College in NY state, has some new working papers up on its site that are worth a mention. The first two are from Randall Wray and the third from Dimitri Papadimitriou: The Continuing Legacy of John Maynard Keynes This working paper examines the legacy of Keynes’s General Theory of […]

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Financial Meltdown

As background to the “flight from risk” which underpins the growing financial crisis in the US and Europe, see the latest annual report from the Bank for International Settlements published in June, especially the chapter on financial markets in the advanced industrial countries. The BIS is a kind of central bank for central banks. http://www.bis.org/publ/annualreport.htm While cautiously stated, it’s not […]

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Foreign Ownership DOES Matter

I’ve pasted in below a letter to Ministers Bernier and Flaherty re the just-announced review of the Foreign Investment Act and foreign take-overs of large Canadian corporations. Links to the two research studies cited in the letter showing that foreign ownership of large internationally-oriented corporations does matter in terms of impacts on the Canadian economy can be found at the […]

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PEF at the CEA 2007

The Canadian Economics Association annual conference is just ten days away. Writers are furiously writing up their papers for presentation (or like me, are procrastinating until the pressure builds); discussants are plotting clever things to say in response to those papers; and others are just figuring out where they will be sleeping in Halifax. As in the past, the Progressive […]

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Wolfowitz Dead in the Water

Here’s a communique (posted about 9 pm) from Peter Bakvis of the Global Unions office in Washington who has been closely observing this fiasco. One wonders if Canada is caving along with the Bushies or will stand as the last defenders of this nepotistic ultra neo con.., (And you read it here first — was it a coincidence that Paul […]

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Shame on us re Wolfowitz

“Within the bank’s powerful executive board, support for Mr Wolfowitz has narrowed to just three countries – the US, Japan and Canada, although both the Japanese and Canadian governments have recently come under domestic pressure to withdraw their backing.”  From today’s Guardian story on the imminent demise of the nepotistic neo con. http://business.guardian.co.uk/story/0,,2074592,00.html 

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Central Nova by the Numbers

Stéphane Dion, who is not progressive, has allied with Elizabeth May, who is not progressive, ostensibly to prevent progressive vote-splitting. As Andrew Coyne notes in tomorrow’s National Post column, this maneuver is clearly directed against the federal NDP, which is progressive. It is worth recalling the 2006 election results in Central Nova, the riding where Dion has pledged to prevent […]

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Dion on the Economy

http://www.liberal.ca/news_e.aspx?type=speech&id=12324 No big surprises in today’s big speech to a business audience – the usual mainstream Finance/OECD stuff on enhancing competitiveness by building a knowledge based economy. Surprisingly little in the way of an attempt to link industrial and environmental policy, for all of that green rhetoric during the leadership campaign. Ditto re any linkage between social justice and economic […]

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Canada’s Lagging Productivity

http://www.statcan.ca/Daily/English/070223/d070223a.htm Philip Cross of Statscan has writen an interesting analysis of our very weak labour productivity performance in 2006. Output per hour growth has been very slow – a result of weak output growth combined with fairly strong job growth. The key factor highlighted here is declining productivity in the mining sector as production shifts to less accessible resources, and […]

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The Economics of Suicide Bombing

http://papers.nber.org/papers/W12910 An instructive – and admittedly interesting – example of the proclivity of economists to reduce almost everything to rationalist explanations. Attack Assignments in Terror Organizations and The Productivity of Suicide Bombers   Efraim Benmelech, Claude Berrebi NBER Working Paper No. 12910 Issued in February 2007 NBER Program(s):   LS    POL This paper studies the relation between human capital of suicide bombers […]

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One from the vault

Arun Dubois’ posts on copyright and intellectual property have me digging back a decade to my days as a bureaucrat at Industry Canada in the Information and Communications Technology branch. I remember reading this essay by John Perry Barlow, published in Wired back in 1996 or so, and finding it really compelling. Reading it again today, some of Barlow’s terminology […]

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The Economics of the Minimum Wage

The minimum wage debate is heating up once again, with the NDP and labour strongly pushing for a minimum wage of at least $10 per hour in Ontario and at the federal level (as recently recommended by the Arthurs Report.) Anti poverty groups and the Toronto Star now strongly endorse a decent minimum wage as part of an anti poverty […]

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RRSP Silly Season

I don’t entirely agree with Jim Stanford that RRSPs are a bad way to save for those not fortunate enough to be covered by a good pension plan, but I am struck by the absence of sober, independent analysis as we head into RRSP season. Today’s special Report on RRSPs in the Globe and Mail is, predictably, totally uncritical, and […]

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More Dion-omics

There have been a couple of important developments since I last posted about Stéphane Dion’s lack of progressive economic policy. A week ago, Murray Dobbin pointed out that Marcel Massé, Dion’s “principal secretary”, was a driving force behind the Chrétien government’s slash-and-burn approach to the Canadian state. Yesterday, Dion outlined his economic policy in a speech to the Economic Club […]

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The World Trade Organization We Could Have Had

The World Trade Organisation We Could Have Had Now is the time to rediscover John Maynard Keynes’s revolutionary ideas for an international trade organisation and adapt them to rebalance the world’s economies in the 21st century. Susan George THE Doha agenda, launched at the World Trade Organisation (WTO) ministerial meeting in the Qatari capital in 2001, has collapsed, and a […]

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Happy New Year

Best wishes to all for 2007. Thanks to all who stop by the RPE blog to read and add their comments to articles and stories we think are important. This blog began in June 2006 with me starting to post items of interest, but without really telling anyone about it. It gained strength over the Fall once more bloggers joined […]

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Dion-omics Redux

I would like to initiate some discussion about Stephane Dion. I do not see much reason for optimism about his economic policies, but am interested in reading alternative views. After observing that many progressive Canadians seem supportive of Dion, Murray Dobbin convincingly argues that a Liberal majority government would not be more progressive than the current government. However, even Dobbin […]

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Inequality DOES Matter

 http://www.guardian.co.uk/commentisfree/story/0,,1979785,00.html A return to the politics of envy could serve us well As inequality grows, the country becomes nastier. We should be seriously unrelaxed about the existence of the filthy rich Peter Wilby Friday December 29, 2006 The Guardian I hope the employees of Goldman Sachs and other City firms who netted a reported £9bn in end-of-year bonuses – with […]

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Morgan Stanley (Stephen Roach) Thinks Labour and Left are in for a Good Year

http://www.morganstanley.com/views/gef/index.html#anchor4105 Global: From Globalization to Localization Stephen Roach | New York On one level, there seems to be no stopping the powerful forces of globalization.  Not only has the world just completed four years of the strongest global growth since the early 1970s, but in 2006, cross-border trade as a share of world GDP pierced the 30% threshold for the […]

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Dion-omics

Was that ever an exciting Liberal leadership convention. It is rare for Canadian politics to get that interesting. Now the fun really begins. Dion would appear to be a good choice. Rae was too smear-able over his time as Ontario Premier; Ignatieff too much a political neophyte and would have had his foot in his mouth during a battle with […]

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