Rotstein’s Monumental Epitaph

The late Abraham/Abe Rotstein (1929-2015) was an economist of a leftist persuasion, literally a Left Liberal. He left behind an almost completed manuscript which he had been working on for more than three decades. It has now been published.  Its title Myth, Mind and Religion: The Apocalyptic Narrative is indicative of its extraordinary breadth. Problems, possibilities, catastrophes, which compel resolution […]

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Was Innis Wrong?

The question is taken from the title of an article by Nancy Olewiler of Simon Fraser University in the Canadian Journal of Economics (November 2017), which, as it happens, was delivered as the Innis Lecture at the meetings of the Canadian Economics Association in 2017: “Canada’s dependence on natural capital wealth: Was Innis wrong?”  Her answer: she writes “Literature and […]

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An Analysis of Financial Flows in the Canadian Economy

An essential but perhaps overlooked way of looking at the economy is a sector financial balance approach. Pioneered by the late UK economist Wynne Godley, this approach starts with National Accounts data (called Financial Flow Accounts) for four broad sectors of the economy: households, corporations, government and non-residents. Here’s how it works: in any given quarter or year each sector […]

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Carey Doberstein’s book on homelessness governance

I’ve just reviewed Professor Carey Doberstein’s book on homelessness governance (UBC Press). The book looks at the way decisions were made pertaining to funding for homelessness programs in Vancouver, Calgary and Toronto during the 1995-2015 period. Points raised in my review include the following: -Homelessness trends look quite different across the three cities. For example, it can be growing in […]

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Ontario Electricity Sector V – What they knew, and when they knew it…

Last month I published a full-length article in the “The Monitor” magazine providing a “how we got here” analysis of the Ontario electricity sector and some options for the next Government.  Since then, two things have changed: first on May 31 two investigative journalists, Carolyn Jarvis and Brian Hill, wrote an excellent story for Global News about how successive Liberal […]

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The Bank of Canada should target full employment: 61 economists

On May 28th, 61 Canadian economists (myself included) signed the following letter urging the federal government to instruct the Bank of Canada to consider full employment and not only inflation when conducting interest rate decisions.  It was through the great organization of Mario Seccareccia that this was made possible and has received reviews by several media commentators, notably Barrie McKenna and Neil […]

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Ontario Election: Inequality Impacts of Fiscal Plans

In the context of Ontario’s upcoming June 7 election, I just finalized an article on the CCPA’s “Behind the Numbers” blog, exploring the fiscal plans of the three major political parties from a historical and comparative context. I concluded that while the Ontario election offers voters three distinct fiscal visions, it is also true that all three would maintain Ontario’s […]

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NDP Math Error will Help the Party, Not Hurt It

The number-cruncher in me cringed in sympathy for the anonymous research nerds who made the now-famous math error in the Ontario NDP’s fiscal platform. They wrongly added a $700 million contingency reserve to net revenue, instead of to expenses.  The result is an underestimation of the planned deficit (if we include that reserve – more on that below) by $1.4 billion in […]

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Rethinking the economics of extreme events

Review of Worst-Case Economics: Extreme Events in Climate and Finance by Frank Ackerman *** Long ago economics was termed “the dismal science,” but in recent years that title has arguably been passed on to climate science, with its regular and dire warnings that humanity needs to rapidly transition off of its use of fossil fuels for energy. In the face […]

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Winner of the 2018 Galbraith Prize in Economics: Jim Stanford

The Progressive Economics Forum is pleased to announce Jim Stanford as the winner of the 2018 Galbraith Prize in Economics. The selection committee included Fletcher Baragar (Manitoba), Hassan Bougrine (Laurentian), Toby Sanger (Canadian Union of Public Employees), Christine Saulnier (CCPA-NS) and Kevin Young (University of Massachusetts at Amherst), and was chaired by David Pringle (PEF). Jim has accepted the Prize […]

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Saskatchewan budget misses opportunity on rental housing assistance

I recently wrote a ‘top 10’ overview blog post about the 2018 Saskatchewan budget. Following on the heels of that, I’ve now written an opinion piece about the budget’s announcement of a phase out a rental assistance program for low-income households. Points raised in the opinion piece include the following: -Across Saskatchewan, rental vacancy rates are unusually high right now, […]

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Ten things to know about the 2018 Saskatchewan budget

I’ve written a ‘top 10’ blog post about the recently-tabled Saskatchewan budget. Points raised in the blog post include the following: -This year’s budget was quite status quo. -Last year’s budget, by contrast, included a series of cuts to social spending. Last year’s budget also announced cuts to both personal and corporate income taxes that were subsequently reversed. -Saskatchewan has […]

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The Contemporary Relevance of Karl Polanyi

The political economist Karl Polanyi, author of the 1944 volume The Great Transformation: The Political and Economic Origins of Our Time, is arguably better known today than during his lifetime. The time has come for a major biography of Polanyi, Karl Polanyi: A Life on the Left by Gareth Dale. It is thoroughly excellent and provides the occasion to ponder […]

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Newly-signed FPT housing framework agreement

I’ve just written a blog post about the newly-signed federal-provincial-territorial housing framework agreement. This agreement builds on (and helps move forward) Canada’s National Housing Strategy, which was released last fall. One of the points made in the blog post is that the federal government’s stated objective of removing approximately half-a-million households from core housing need is very ambitious, in light […]

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2018 PEF Student Essay Contest is Open!

The 2018 PEF Student Essay Contest is  open! The deadline for submitting essays is quickly approaching: April 30, 2018. Please use this  submission form  (fiche d’inscription concours).  You can download a poster (English ,  Francais) here — please help us out and post one in your department. 2018 PEF ESSAY CONTEST RULES ELIGIBILE ENTRANTS ? Open to all Canadian students, […]

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A Tale of Two Books

Just published is Volume I of an exhaustive – occasionally exhausting – biography of Paul Samuelson. It’s titled Founder of Modern Economics: Paul A Samuelson Vol I: Becoming Samuelson, 1915-1948 and authored by Roger E Backhouse. The two books of my blog title are Foundations of Economic Analysis, published in 1947, a revision of Samuelson’s Harvard doctoral dissertation, in which he unearthed the mathematical scaffolding […]

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Ten proposals from the 2018 Alberta Alternative Budget

The 2018 Alberta Alternative Budget (AAB) was released yesterday—it can be downloaded here. An opinion piece I wrote about the AAB appeared yesterday in both the Calgary Herald and the Edmonton Journal. Inspired by the Alternative Federal Budget exercise, this year’s AAB was drafted by a working group consisting of individuals from the non-profit sector, labour movement and advocacy sectors. […]

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Media release: Alberta needs a provincial sales tax

(March 20, 2018-Edmonton) Today, a coalition of researchers, economists, and members of civil society released an alternative budget to boost Alberta’s economic growth while reducing income inequality. “Alberta is on the road to recovery after a deep recession,” said economist Nick Falvo, “now is not the time to reverse the course.” The document, High Stakes, Clear Choices, sets a progressive […]

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Inequality-redistribution in Canada update

Two years ago I posted my first guest blog focused on income inequality, specifically how changes in Canada’s redistribution over the last three decades have increased after-tax income inequality, and how these changes compared to OECD trends. The figures and analysis in this post update the earlier blog, based on the most recent OECD data to 2015. I also look […]

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Homelessness and employment: The case of Calgary

I’ve just written a blog post about homelessness and employment, with a focus on Calgary (where I live and work). Points raised in the blog post include the following: -Persons experiencing homelessness usually have poor health outcomes, making it especially challenging to find and sustain employment. -There are several non-profits in Calgary that assist persons experiencing homelessness to find and […]

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Budget Fails to Crack Down on Private Corp Tax Shelter

The federal Budget changed the rules a bit re the taxation of passive investment income in private corporations, but falls well short of what was promised in terms of extra revenues and more tax fairness. The “small business” lobby helped the wealthy big time. http://www.broadbentinstitute.ca/andrew_ajackson/wealthy_get_off_lightly_from_budget_2018_changes_to_the_private_corporation_rules    

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Five Things to Know About the 2018 Federal Budget

I’ve written a blog post about the 2018 federal budget. Points made in the blog post include the following: -Important new housing investments were made for First Nations, Inuit and Métis people. -The Working Income Tax Benefit was expanded, made automatic and rebranded (i.e., renamed). -Canada’s official unemployment is now the lowest it’s been in decades. -Canada’s federal debt-to-GDP ratio is […]

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“Nationalism versus Continentalism: Clarksonian Perspectives”

   Greg Inwood This is a contribution from Greg Inwood for the series commemorating the work of Stephen Clarkson who died in 2016. Greg Inwood is a Profesor in the Department of Politics and Public Administration, and a member of the Yeates School of Graduate Studies at Ryerson University.  He is the author of Understanding Canadian Public Administration and The Politics and […]

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