Growth After Financial Capitalism
A thoughtful short essay by Wolfgang Streeck, concluding with a reflection on how extreme inequality gets in the way of a needed de-emphasis on crude economic growth.
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US family net worth crushed by financial crisis
The US Federal Reserve today released its triennial examination of incomes and net worth of American households in the Survey of Consumer Finances. It shows the crushing effects on net worth of a housing and financial bust unparalleled since the great depression. The shocking results of this study overviewed in the New York Times are that ALL  real net wealth […]
Read moreCanada’s Self-Imposed Crisis in Post-Secondary Education
On June 7, I gave a keynote address to the Alberta Union of Provincial Employees Education Sector Conference. My PowerPoint presentation (with full references) can be found at this link. Points I raised in the address include the following: -Canada’s economy has been growing quite steadily over the past three decades, even when one adjusts for inflation, and even when […]
Read moreBudget Bill and the Federal Contractors Program
So many big changes are happening in Bill C-38 that some significant issues like the changes to the Federal Contractors Program (FCP) have escaped attention. Part 4 Division 42 of C-38 is very short. It merely says that subsection 42(2) of the Employment Equity Act is replaced by the following: “The Minister is responsible for the administration of the Federal […]
Read moreSeven reasons why you should support the Quebec students’ call for low tuition fees
Despite the remarkably poor media coverage of the early days of the protests (especially in English Canada), it seems that the Quebec student protestors have finally succeeded in sparking a broader public discussion about civil liberties and the right to protest (even in the Globe here, here and in the Celebrity Photo captions). Yet, media commentators have largely dismissed the […]
Read moreImplications of Inequality
I, Jason Clemens from the Macdonald-Laurier Institute and David Macdonald from the CCPA discussed the social and economic implications of growing income inequality on an ipolitics panel yesterday. Jason was a bit outgunned so I won’t go after him here, except to say that he took the usual neo liberal tack of shifting the debate to poverty so as to […]
Read morePoverty in Yukon
Last week I was in Whitehorse where I released a peer-reviewed policy report on poverty in Yukon. The report was part of the much larger Social Economy Research Network of Northern Canada project. Report findings include the following: -Ignoring poverty can be quite costly, as has been clearly demonstrated by research on the ‘costs of poverty’ done by economist Nathan […]
Read moreWhy Can’t We Afford What We Used to Have?
In this age of austerity, we are constantly told by governments that we have to tighten our belts. Tuition fees have to go up; public pensions, Unemployment Insurance and social assistance benefits have to be cut; universal public health care is no longer affordable, and so on ad nauseam. But, as my friend Peter Puxley recently reminded me, it is […]
Read moreMeilinomics II: Income from Within
The following is another excerpt from Dr. Ryan Meili’s new book, A Healthy Society: How a Focus on Health Can Revive Canadian Democracy, which fellow blogger Greg Fingas has been discussing. The road to Tevele is red sand and sloppy in the rainy season. The pick- up truck bounces in and out of ruts as we head thirty-some kilometres from […]
Read more“Differentiation:” The à -la-carte Way to Hire More Course Instructors
I’ve written before about attempts in Canada to create more separation between university teaching, on the one hand, and university research, on the other. In 2009, I wrote this opinion piece about an attempt by five university presidents to each acquire a larger share of university research dollars. And last year, I blogged here about a proposal for the Ontario […]
Read moreThe Big Banks’ Big Secret
The CCPA today released my report: “The Big Banks Big Secret†which provides the first public estimates of the emergency funds taken by Canadian banks. The report bases its estimates on publicly available data from CMHC, the Office of the Superintendent of Financial Institutions, US Federal Reserve, the Bank of Canada, as well as quarterly reports from the banks themselves.
Read morePBO Strikes Again
I wanted to tip my hat to the hard working folks at the PBO for a particularly revealing Economic and Fiscal Outlook that was published today. Â While the PBO has more than once eaten my lunch on various issue they’ve done a superb job of looking at Canada’s economic and fiscal position.
Read moreBC isn’t broke: putting teacher bargaining in perspective
Last Monday, BC teachers held a Day of Action in communities across the province to protest the BC government’s decision to legislate a contract and put an end to their collective bargaining process. I was invited to speak to teachers at the Surrey rally, where I had the opportunity to share some of my analysis of the BC Budget (which […]
Read moreThe Affordability of Post-Secondary Education
Carleton University’s Ted Jackson teaches a graduate seminar course on post-secondary education in Carleton’s School of Public Policy and Administration. Earlier this month, I was invited to give a guest presentation to Professor Jackson’s class. I focused the presentation on affordability challenges faced by students wanting to pursue post-secondary education. My slide presentation can be found here.
Read moreNew Generation of Thinkers Link Inequality, Innovation and Prosperity
(This guest blog was written by Mike Marin and Anouk Dey. It originally appeared in the Toronto Star on February 24. The authors are part of a team that produced the report Prospering Together (in English http://bit.ly/z4GQx5Â and in French http://bit.ly/yabiK2) What do the Occupy Movement and Canadian software giant OpenText have in common? Most people, including the campers and […]
Read moreWhy taxing food staples should not be considered a policy option in Canada
Here’s an excellent piece by Sam Boshra, about the recent proposal by Michael Smart and Jack Mintz to apply the GST to food, from Sam’s blog at Economic Justice: Low-income households can’t buy food today with a larger HST rebate they hope to get sometime in the future.  A key objective of the social safety net, welfare, disability, unemployment, child tax, […]
Read moreThe Political Roots of Inequality
 Last Thursday I was at an event on the issue of rising income inequality, sponsored by Canada 2020. It featured one of the authors of the recent OECD report on inequality, who highlighted the “skills biased technological change or SBT †hypothesis so favoured by mainstream economists who desperately avoid discussion of inequality as a political as well as economic […]
Read moreRising Inequality Spooking the 0.0001%
Contributors to this blog–and CCPA experts–have been warning about the negative economic and social consequences of rising inequality for decades.  Now the even the 0.0001% are getting concerned.  Experts polled for the Global Risks Report for this month’s meetings of the World Economic Forum in Davos –one of the most eleite gatherings of the powerful in the world — selected severe […]
Read moreOntario’s Poverty Reduction Strategy
December marked the three-year anniversary of Ontario’s Poverty Reduction Strategy. While I believe there is much to celebrate, much remains to be done. The Strategy surprised a lot of observers, especially in light of the fact that it was announced in December 2008, just as Ontario was entering a recession. Its focus was almost exclusively child poverty, and at full […]
Read moreEconomic Climate and Inequality
The December issue of the quarterly Economic Climate for Bargaining publication I produce is now on-line. Â This issue has a number of pieces on issues of inequality, including: Rising inequality is hurting our economy Labour rights, unions and the 99% Canadian economy bleeding jobs; public sector cuts to intensify Recession and cuts hit Aboriginal and racialized workers hardest It also […]
Read moreBattle of the Wages study dispels myths about public sector wages
A comprehensive study released today by CUPE shows there’s no evidence public sector workers are paid consistently more than those in similar jobs in the private sector. Instead, overall average pay in the public sector is remarkably similar when compared against similar jobs in the private sector: only 0.5 per cent higher. This public sector pay premium can be entirely […]
Read moreMind the OECD Credibility Gap
Further to Toby’s post, the OECD report on inequality is well worth a careful read. It bolsters, through careful empirical and cross country analysis, two key arguments long advanced by the labour movement and progressive economists: -Â key trends in the labour market – widening wage disparity between top earners and the rest, and the disproportionate growth of precarious jobs […]
Read moreOECD on Inequality
Following concern expressed by the IMF, the Conference Board and of course thousands of protesters around the world, the OECD has just released an extensive 400 page report on the problem of growing inequality: Divided We Stand: Why Inequality Keeps on Rising. I haven’t read through it yet, and it also has quite a lot of other information for downloading […]
Read moreThe New Politics Initiative: Ten Years After
Rabble.ca is running a series of reflections on the tenth anniversary of the New Politics Initiative, which sought to create a more democratic politics in Canada ideally as part of a revitalized NDP. The vision statement is here; my piece follows, and there are also contributions from Judy Rebick and Jim Stanford. Altogether these make for a timely reflection on directions for […]
Read moreUnequal = Indebted
The IMF find that rising inequality is a key driving force behind balance of payments problems and domestic instability in developed countries. “what unites the experiences of the main deficit countries is a steep increase in income inequality over recent decades, as measured by the share of income going to the richest 5 percent of the country’s income distribution. This […]
Read moreWho Occupies the Sky?
CCPA released a new report today by myself and Amanda Card that makes the links between inequality and carbon footprints. We look at the distribution of greenhouse gas emissions for Canada, building on an analysis of BC emissions. While it was not planned this way, the analysis is timely given the Occupy movement’s focus on surging inequality and movements for […]
Read moreFamilies, Time and Well-Being
Inequality of well-being among families with children is increasing at an even faster rate than income inequality, according to a new study by Peter Burton and Shelley Phipps, “Families, Time, and Well-Being in Canada”. They find that total family working hours have increased for most families, but not for those at the top of the income spectrum who have been […]
Read moreThe financial wealth of Canada’s top 1%
Following up on my post on wealth and income of the top 1%, Eric Pineault wrote to add some data on financial wealth distribution for Canada. He had a research assistant comb through microdata from Statcan’s Survey of Financial Security from 2005, and notes: “the 1% richest (all households are classed according to net worth rather then income) hold 22% of […]
Read moreWealth and Income in the Top 1%
One thing I really like about the Occupy movement is that it reclaiming mental space. I’m thinking of the overt focus on the riches gained by the top 1%, and of naming and shaming capitalism. Two are one and the same, of course. It is in the top 1% that we find the capitalists – those who own large chunks […]
Read moreCanada’s Billionaires
Just in time for the “Occupy Bay Street†protest this weekend, Canadian Business magazine has come out with its annual listing of the richest 100 people in Canada. So in honour of the protestors and their noble cause (demanding more attention to the 99%, instead of the 1%), let’s peruse together the sordid details of Canada’s ultra-rich.
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