Neil Reynolds has discovered that a fraction can be increased by reducing its denominator. Because labour productivity equals output divided by employment, he claims that “In manufacturing, you measure success by the number of jobs you eliminate.” By definition, a given volume of manufacturing output produced by fewer workers implies higher manufacturing productivity. However, it does not follow that lost […]
Read moreAs I mentioned below, I am home in Saskatchewan this week. As a result, I have seen the latest “Parliamentary Update†from my former Member of Parliament (MP), Ralph Goodale. It is, of course, normal that MPs of all stripes deploy these publicly funded “householders†to present themselves and their activities in a positive light. When the Liberals were in […]
Read moreOn March 30, I attended the federal government’s conference on “Internal Trade: Opportunities and Challenges,†which was hosted by Human Resources and Skills Development Canada and by Industry Canada. Other attendees included academics, federal and provincial civil servants, and representatives of business and professional organizations. The academic and policy people all agreed that the material costs of alleged inter-provincial barriers […]
Read moreThe New York Times reports on the inequities generated by global warming below. The April edition of The Atlantic also featured a story on the same theme, but it was really poorly done. While the article makes a few interesting observations of what might happen in different parts of the world, Gregg Easterbrook, from Brookings, was more inclined to treat […]
Read moreLance Freeman of Columbia University argues against congestion pricing: The Equity Considerations of Congestion Pricing Getting stuck in traffic is fast becoming one of those necessary evils that everyone complains about but seldom does anything about it. Or at least anything that seems terribly effective. Neither additional road building nor public transit seemed to have had a major impact on […]
Read moreLast week, the Sierra Legal Defence Fund published a legal analysis on the environment and TILMA. Below is an excerpt from the press release, and the full document is here. This is an important analysis as BC’s point man on the file, Colin Hansen, has been claiming that the environment has been set aside as a “legitimate objective”. April Fools’ […]
Read moreOver at Wired, Leander Kahney comments on this week’s deal between Apple and EMI to sell EMI’s catalogue free of digital rights management (DRM): How Steve Jobs Calls the Tunes Steve Jobs’ new partnership with EMI to sell music without copy protection is a lesson in how to wield power in the digital age. Carefully and strategically, Jobs set up […]
Read moreThe authors of this paper address the relationship between (overly rigid) intellectual property laws, in copyright and patents, and externalities (spillovers), with a rethink of the assumptions driving the economics. Spillovers MARK A. LEMLEY Stanford Law School BRETT M. FRISCHMANN Loyola University of Chicago – Law School Stanford Law and Economics Olin Working Paper No. 321 Columbia Law Review, Vol. […]
Read moreThis week, I am back home in Saskatchewan, where debate on TILMA is really heating up. (My location and time zone also explain why Andrew filled in for me on today’s Labour Force Survey.) Brad Wall leads the Saskatchewan Party (the renamed Conservatives) and hence the Official Opposition. While some TILMA proponents have withdrawn from the deeply flawed Conference Board […]
Read moreToday’s job numbers are good news in that they strongly suggest the economy is growing rather than slowing. Employment is up by a strong 55,000 jobs, the national unemployment rate remains at a relatively low 6.1%, and real wages are modestly rising. The overall jobs picture is a bit stronger than expected, and women are doing particularly well. (A record […]
Read moreROB columnist Eric Reguly is off to Europe. I’ve always enjoyed his rather iconoclastic business commentary, and will miss it (far too rare in the Globe.) Today’s parting shot identifies the culture of corporate Canada rather than public policy as the source of our poor performance in terms of global business leadership. What ails Canada: My parting shot It is […]
Read moreAn unstated, and almost certainly correct, assumption underlying the speculation about a spring campaign is that the Harper government’s defeat on a confidence vote would result in an election. However, as Andrew Coyne correctly points out, the Governor General could instead call upon someone other than Harper to form a government able to command the House’s confidence. Harper would want […]
Read more This paper from Beaudry and Green seems highly relevant to the currently hot issue of community economic impacts from manufacturing job losses. Manufacturing jobs generally pay above average wages, and recent research suggests displaced industrial workers experience average wage losses in the range of 25%. http://papers.nber.org/papers/W13006  NBER Working Paper No. 13006 Issued in April 2007 NBER Program(s):   LS Does […]
Read moreThomas Palley credibly suggests that the Bush White House has been driving up oil prices by expanding this reserve, but then lowering them during American elections by depleting the reserve. I have also heard suggestions that the Clinton White House depleted the reserve at election time, but am not sure whether it expanded the reserve outside of elections. Manipulating the Reserve by Thomas […]
Read moreThe presentations from the Ottawa Economics Association’s 2007 Policy Conference are now available online. They include a fascinating exposition on China’s manufacturing sector, a business perspective on Canadian manufacturing, Buzz Hargrove on the Canadian economy, and the Fraser Institute’s take on global warming.
Read moreThere has not been nearly enough Canadian discussion of this hot issue, especially given the spate of activity in Canada. Here’s info from a recent critical UK report (with thanks to Joel Harden). On 26 March the UK-based Work Foundation released a report on the social impact of private equity investment in the UK: “Inside the dark box: shedding light […]
Read morePatrick Grady, a former senior Finance official and leading mainstream economist, has weighed in on the Conference Board’s estimate of TILMA’s economic benefits. He cites the paper that Marc and I wrote and reiterates the points first made on this blog. He also notes that the Conference Board’s own forecast of BC’s economic-growth rate does not seem to reflect its […]
Read moreAir travel is a beast for the climate change file, one that is going to be difficult to tackle as we move ahead. For consumers, it is deeply entrenched as a means of getting around the globe, and may be particularly hard to reduce because it would require strong international collaboration. In Monbiot’s book Heat, he argues we need to […]
Read moreThe “uh oh” file is growing, as the next IPCC report comes out this Friday. In it are more graphic descriptions about what warming could mean for the planet and by region. Scary stuff that will hopefully take our governments to the next level beyond recognition and half-measures to something more meaningful. Below are some previews from the Toronto Star […]
Read moreA jury is supposed to be comprised of one’s peers, but Conrad Black’s “Peers” are in the House of Lords and among the global elite. Naomi Klein reports on the class dimensions of jury selection at the Black trial (hat tip here): Class War in Conrad’s Court by Naomi Klein During the jury selection process at the Conrad Black fraud […]
Read moreThe following note, including tables, is available on the Canadian Labour Congress website: Free trade was promoted to Canadians on the famous promise of “jobs, jobs, and more jobs†and is widely defended on the basis that Canada’s large trade surplus with the US contributes to Canadian employment. Meanwhile, American commentators are concerned that the US trade deficit displaces American […]
Read moreJoseph Stiglitz compares Europe and America in his latest column. Message to Canada: like the EU we should not be lulled by conservatives’ obsession with GDP per capita differentials. Europe’s success points the way to better world IN some quarters, pessimism dominated the recent celebrations marking the European Union’s 50th birthday. Unease about the EU’s future is, of course, understandable, […]
Read moreA rather strange – not to say bizzarre – hypothesis on the Conservative decision to restrict income trusts was put forward today (March 31) by Green Party Leader and ostensible progressive, Elizabeth May. Speaking to the Council of Canadians Integrate this! conference on the “deep integration” Security and Prosperity Partnership with the US, May said she found allegations of revenue […]
Read moreAs the National Union of Public and General Employees reports, the Ottawa and District Labour Council played a key role in initiating this investigation: OPP investigation launched, thanks to Ottawa labour council The question remains – why was it left to an outside group like the labour council to take the initiative?Ottawa (28 March 2007) – Thanks to the Ottawa […]
Read moreThe Saskatchewan Urban Municipalities Association has rejected TILMA. P. S. – The paper that Marc and I wrote on TILMA is now available in French.
Read moreKen Georgetti and leaders of major manufacturing unions just finished meeting with the Prime Minister about Canada’s ongoing manufacturing crisis. The Canadian Labour Congress briefing note quoted by The Globe and Mail online follows: The Manufacturing Crisis Overview Canada’s manufacturing sector is in crisis. High energy prices, a high dollar, and worsening trade deficits with Asia have caused many Canadian […]
Read moreThe expert panel on older workers appointed by the Minister of Human Resources and Social Development has released a short discussion paper. http://www.ow-ta-sec.org/en/consultation/discussion_paper.shtml The background to this panel (promised in the 2006 Budget) was a political push in 2005 for an income support program for displaced older workers – a particularly hot topic in Quebec and, increasingly, in Ontario given […]
Read moreOf more than passing interest given Harper’s ramped up subsidies to ethanol – more of a farm support program than a genuine climate change solution it would seem (though perhaps we should be more supportive of the newer biotechnologies which can convert wood and agricultural wastes to ethanol.) http://www.guardian.co.uk/commentisfree/story/0,,2043724,00.html If we want to save the planet, we need a five-year […]
Read moreFrom the Toronto Star March 23, 2007, p. A21. Working poor get little relief from Flaherty Upon closer inspection, the Conservative finance minister’s Working Income Tax Benefit falls way short of the original proposal first floated by his Liberal predecessor Ralph Goodale, notes John Stapleton March 23, 2007 There was much anticipation that the latest federal budget would […]
Read moreRiddle: When is a Liberal budget, not really a Liberal budget? Answer: When big business loves it! There’s a fascinating sidebar to Jim Flaherty’s big-spending vote-buying budget last week, in the strongly favourable reaction which it received from the business community. All the pundits’ complaints about the budget being “more Liberal than the Liberals” are actually welcomed by the Tories, […]
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