Walden Bello, of Focus on the Global South, says yes: Globalization in Retreat Walden Bello When it first became part of the English vocabulary in the early 1990s, globalization was supposed to be the wave of the future. Fifteen years ago, the writings of globalist thinkers such as Kenichi Ohmae and Robert Reich celebrated the advent of the emergence of […]
Read moreI recently read somewhere a commentary that Venezuela’s Hugo Chavez was not really that radical, that his populist rhetoric was largely limited to expanding social programs for the poor, and that behind the scenes he was still playing nice with US businesses. Unfortunately, I seem to have lost the link to that article. Perhaps Chavez’s latest announcement will alter that […]
Read moreIn his presidential address to the American Economics Association, Nobel laureate George Akerlof points to a new agenda for macroeconomics, rooted in more realistic assumptions about human behaviour. Below is the abstract and introduction. The full paper is here. Economist’s View’s coverage also includes a New York Times article that interviews Akerlof about his views (here). The Missing Motivation in […]
Read moreStephen Gordon wonders whether eliminating the Canadian Wheat Board would be of benefit to consumers: The Canadian Wheat Board: Won’t anybody think of the consumers? The Canadian Wheat Board – a cartel for Canadian wheat producers – is experiencing the sort of troubles that all cartels have to deal with at some point or another: some of its members believe […]
Read moreEllen Gould has noted that the Conference Board’s report projects gains for industries that are explicitly exempted from TILMA: utilities, energy, mining, forestry, and fishing. The Conference Board’s analysis was based on a “draft negotiators’ text” (see page 39). However, the actual agreement wholly or partly exempts the industries listed above (see pages 19-20 and 22). These exempt industries could conceivably still benefit from lower […]
Read moreThe Conference Board estimates that TILMA will add $4.8 billion to British Columbia’s economy. Even if one accepts the Conference Board’s assumptions, this figure should be $2.4 billion (as explained below). However, some of these assumptions are highly questionable. The Conference Board argues, “The commercial services and wholesale and retail trade industries will benefit from [TILMA]. Increased trade liberalization will […]
Read moreNeil Reynolds is at it again in today’s Report on Business (not available on line), defining poverty out of existence by questioning the reliability of standard statistical measures. His main point in a somewhat confused argument is that poverty rates are over-stated by conventional income-based measures such as the LICO. Reynolds argues that the poor – according to consumption surveys […]
Read moreThe Government of British Columbia has finally released the Conference Board study projecting that TILMA will add $4.8 billion to the provincial economy. Seeing the study’s methodology (or lack thereof) makes this projection seem even sillier than Marc and I had suggested. The Conference Board “scored†eleven industries in seven regions on the following arbitrary scale of TILMA’s speculated impact […]
Read moreA useful piece on the ‘new’ Danish Economy and why it works by Jonathan Cohn, a senior editor at the (American) New Republic and a senior fellow at Demos, a US-based national, non-partisan public policy, research and advocacy organization. NEOLIBERAL UTOPIA AWAITS. Great Danes by Jonathan Cohn Post date: 01.03.07 Issue date: 01.15.07 If you want a lower standard […]
Read moreThe Dominion Institute has recruited twenty great Canadian thinkers to write about what the country might look like in 2020. The fourteen essays currently posted include Don Drummond’s neo-classical analysis of manufacturing and productivity and Jim Stanford’s excellent analysis of Canada’s reliance on natural resources. Jim’s main argument, that Canada’s unmanaged resource boom is damaging other industries and our natural environment, […]
Read moreI recently had occasion to re-read Jim Stanford’s contribution to an excellent CCPA book on Paul Martin’s Record (Hell and High Water), in which Jim pointed out that fiscal retrenchment in Canada under the Chretien government had been far, far more severe than the OECD norm. Few Canadians seem to perceive just how exceptional Canada has been compared to the […]
Read morehttp://www.campaign2000.ca/rc/index.html Campaign 2000 have released a new report card based mainly on some number crunching by the Canadian Council on Social Development. Among the more interesting findings: The child poverty rate has been essentially unchanged over the past three years (2001- 2004), (and indeed gradually rising by the most commonly used post tax LICO measure). It remains well above the […]
Read moreAndrew Brown says the dark side of Microsof’s new Vista operating system is a nasty digital rights management system. Oh the relentless greed of the movie industry. In cahoots with Microsoft they are seeking to guarantee their billions in profits and to ensure Tom Cruise can continue to make $20 million a movie. Making the upgrade I have no need […]
Read moreWhere I live in BC, the provincial government is doing its best to subtlely undermine public health care, rather than make the reforms countless commissions have recommended to make the system better. A full frontal assault is not possible due to the continuing popularity of a public model, but perhaps they think that if they mismanage the system enough and […]
Read moreBest 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 […]
Read moreWhen it comes to intellectual giants, it is hard to top Einstein. From this article in the Monthly Review in 1949, it looks like he would have made a pretty good economist had he not bothered with all of that “how the universe works” stuff. We know he’d be good at the math. Many economists came over to the dismal […]
Read moreThere is not much positive to write about either Saddam Hussein or the American invasion of Iraq. In his October 11 column, Andrew Coyne lamented North Korea’s nuclear test, but suggested that it would have been even worse had Saddam Hussein still been in power. On October 13, the National Post ran the following letter from yours truly under the […]
Read moreI 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 […]
Read moreOne wonders how much the Government of Canada could recover by offering an amnesty to tax evaders who come forward and pay up, followed by a serious effort to identify and prosecute those who do not. The Times December 30, 2006 Mystery billionaire pays $200m in back tax – and keeps a state afloat Chris Ayres in Los Angeles $200m […]
Read more 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 […]
Read moreA nice summary of the legacies of Galbraith and Friedman, with a strong plug for Galbraith and what the economics profession lacks due to his death. I should note that the Progressive Economics Forum will be creating a John Kenneth Galbraith Prize at this year’s Canadian Economics Association meetings. Jamie Galbraith has given his backing and will be in Halifax […]
Read moreCompare and contrast. First, the “soft landing” view, from Carlos Leitao, Chief Economist of The Laurentian Bank, as quoted in the Globe and Mail: [T]he Canadian economy is in the midst of â€a significant slowdown that we still think should be relatively short-lived. Nevertheless, the downside risks are important and far outweigh upside risks.†[T]he U.S. economy â€has proven to […]
Read moreAtlantica is the brain child of Brian Lee Crowley of the Atlantic Institute for Market Studies, and current senior advisor in the federal Department of Finance. I had thought that this was a case for some sort of deep integration between the Canadian Atlantic provinces and the US northeastern states – a case that would be hopelessly undermined by the […]
Read morehttp://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 […]
Read moreI have posted below a response by a senior Government of Caanda official to my earlier post on why the Canadian econmy is operating below capacity – the core subtance of which is to suggest that wages are too low to stimulate needed productvity gains. A somewhat usuual, out of mainstream response… > This was a nice note Andrew. I […]
Read moreThe Vancouver Sun story below should be filed under “we told you so”. The CCPA released a few papers on this very issue by Ross Klein, a Newfoundland-based cruise ship expert. The most recent was sixteen months ago, and focussed specifically on the BC industry. Here is what it said: BC also risks becoming the toilet of the Pacific Northwest, […]
Read moreLarry Elliott, writing in The Guardian’s Comment is Free area, on Thailand’s capital controls and its subsequent capitulation: A financial U-turn Thailand’s use of capital controls was intended to penalise short-term investors – but the market reaction was swift and brutal. December 20, 2006 07:04 PM It’s not often I feel sorry for military regimes, but I must confess to […]
Read moreThis is scary: The Concerns of Comptroller of the Currency About the Excesses in the Mortgage Market Nouriel Roubini | Dec 18, 2006 A colleague in the financial sector pointed to my attention a speech that the Comptroller of the Currency – John Duggan – has recently given where he expressed some serious concerns about the growth of exotic mortgages […]
Read moreFormer Vancouver city councillor Gordon Price coins a new term, the “Katrina moment”, of which Vancouver has had a few this Fall. The latest was a fiece windstorm that passed through early Friday morning. Almost everyone I’ve talked to was awakened around 3:30 am by the howling wind, which approached but just fell short of the all-time wind speed record […]
Read moreAnother over the top tirade in today’s Globe from Neil Reynolds for whom “equality is the stuff of gulags and guillotines.” (Dion Gets it Wrong on Real Freedom. Globe and Mail. December 15.)  Mr Reynolds appears to be entirely unfamiliar with the best comparative empirical resarch on the topic, generally available from from the Luxemburg Income Survey (ww.lis.org)  which specializes in comparative […]
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