This is a guest blog post from Mario Seccareccia, Professor of Economics, University of Ottawa. ——- Since the October 2008 federal election, Canadian politicians have been struggling to come to terms with what to all accounts has turned out to be a “lite” version of the 1930s, whose major difference is that today we have a much larger government sector […]
Read moreFirst, disclosure.  I wear several hats.  In addition to being a progressive economist, I am  a member of the NDP.  I have been since 1988.  I will be voting for the NDP candidate in my riding and I just donated $100 to the party,with more to follow. The recent promise of four years of balanced budgets by the Mulcair-led NDP […]
Read moreThis afternoon I gave a presentation at Raising the Roof’s Child & Family Homelessness Stakeholder Summit in Toronto. My slide deck can be downloaded here. To accompany the presentation, I’ve prepared the following list of “Ten Things to Know About Homelessness in Canada.†1.Efforts to enumerate persons experiencing homeless have generally been spotty, but it is reasonable to assert that […]
Read moreCet après-midi, j’ai fait une présentation au Child & Family Homelessness Stakeholder Summit, organisé par Chez Toit, à Toronto. Ma presentation, illustrée de diapositives, peut être téléchargée ici. Pour accompagner la présentation, je vous ai préparé la liste suivante: « Dix choses à savoir sur l’itinérance au Canada. » 1. Les tentatives de dénombrer les personnes en situation d’itinérance ont […]
Read moreThis week Stephen Harper’s Conservatives are trumpeting the announcement of a small surplus ($1.9 billion) for fiscal 2014-15. The political symbolism of this “good news” is a welcome change for them from a string of negative economic reports (most importantly, news that Canada slipped into recession in the first half of 2015) that has damaged their traditional claim to be […]
Read moreA five-year $50-billion public infrastructure spending initiative would generate a return on investment to Canadians over the long term as high as $3.83 per dollar spent, trigger significant private sector investment and stimulate wage increases, according to a new study by an independent economic modelling firm. The Economic Benefits of Public Infrastructure Spending in Canada, authored by the Centre for […]
Read moreby: Kaylie Tiessen & David Macdonald Small business taxes made the news last week when, during a CBC interview, federal Liberal leader Justin Trudeau suggested many business owners are using the small business tax rate as a de facto in-country tax shelter. Responding to the interview, Conservative leader Stephen Harper accused Trudeau of taking aim at the backbone of the […]
Read moreAfter a generation of comparatively high corporate income tax (CIT) rates, in the late 1980s Canadian governments at the federal and provincial levels began a series of corporate income tax reforms. According to many mainstream (“neoclassical”) economists, reducing CIT rates was a wise public policy. A reduced CIT rate means a reduction in the cost of capital, thus inducing a […]
Read moreThere were surely more people (myself included) watching Statistics Canada’s GDP release at 8:30 am Tuesday, than any other release in recent history! This reflected the political significance of the possibility that an official recession would be confirmed by the numbers, right smack in the middle of an election campaign — all the more so given the Conservatives’ self-congratulatory rhetoric […]
Read moreOpinions on deficit budgeting have become a short-hand litmus test in Canadian politics. Deficits are left-wing and balanced budgets are right-wing austerity.  Economists know that there is virtually no difference between a small surplus and a small deficit, but politicians and voters are a different story. I have spent the past three and half years railing against premature Conservative budgetary tightening, […]
Read moreLouis-Philippe Rochon Associate Professor, Laurentian University Co-editor, Review of Keynesian Economics Follow him on Twitter @Lprochon First, it was his enthusiastic support and admiration of Margaret Thatcher; now it is his overzealous support of balanced budgets. What’s next? What is Mr. Mulcair ready to do to get the keys to 24 Sussex? How close is he willing to get […]
Read moreAt the big Unifor Canadian Council meeting in Montreal last weekend there was a surprise appearance by a new musical group, called “Stephen Harper and the Senators”, featuring Stephen Harper on guitar and vocals, Patrick Brazeau on drums, Pamela Wallin on bass, and Mike Duffy on lead guitar and general spiritual advising. They played a short but lively set, consisting […]
Read moreWas there any concrete economic reason for Stephen Harper to call Stephen Poloz yesterday, as global stock markets continued their gyrations? And then to have his office subsequently issue a cryptic and rather foreboding statement about the conversation?
Read moreCongratulations to Statscan on the occasion of the first release from the National Job Vacancy and Wage Survey, with data for the first quarter of this year. The survey received funding from HRSDC to put some hard numbers on job vacancies, and the first tranche of data are impressively granular, providing detail on vacancies at a detailed occupational level and […]
Read moreCanadian recession will go beyond first half of 2015 Louis-Philippe Rochon Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics With news of economic turmoil in China and other emerging economies, repercussions for Canada will be quite “atrociousâ€. Expect the recession to continue beyond the second quarter of 2015. This raises questions about the supposed recovery in the second half […]
Read moreOver the past two weeks, Stephen Harper has made three new housing-related promises on the campaign trail. However, they won’t help the crisis of affordability. The pattern is familiar: make things worse and prepare to blame others. First, there’s the promise to allow first-time home buyers with RRSPs to take an extra $10,000 out of their retirement savings for a down-payment. […]
Read moreChild care will be a major issue in this federal election campaign. The NDP has pledged to create 370,000 new $15-per-day spaces through joint federal-provincial initiatives by 2017-18, at an estimated cost of around $2 billion per year (growing that to 1 million spaces by 2023). The Liberals have not yet announced their child care platform, but have indicated it […]
Read moreLouis-Philippe Rochon Associate professor of Economics – Laurentian University Founding co-Editor – Review of Keynesian Economics Follow him on Twitter – @Lprochon This story from the CBC on August 14, 2015. See story here. With the NDP riding high in a number of national polls at the moment, there is an increasingly real possibility the New Democrats will form […]
Read moreOn the campaign trail, Prime Minister Harper repeated assertions that relaxing pot laws will lead to terrible, horrible things: ““When you go down that route, marijuana becomes more readily available to children, more people become addicted to it and the health outcomes become worse.” The Conservative response is to escalate the “war on drugs,” even though this moral crusade has […]
Read moreHere is the link to buy a new book, Canada After Harper, edited by Ed Finn and with an introduction by Ralph Nader, just published by Lorimer. Most Canadians know that Stephen Harper has had a tremendous impact on the country since becoming prime minister in 2006. But few have the in-depth knowledge of how far his transformation has gone […]
Read moreLouis-Philippe Rochon Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics Follow him on Twitter @Lprochon Mr. Harper and the Conservatives never miss an opportunity of reminding Canadians that we should vote for them in October in order to ensure economic prosperity in the future. At the heart of this argument is the belief that they are the best […]
Read moreThe first major election promise from the federal Conservatives: a permanent home renovation tax credit. On the surface this looks like an astute manoeuvre, given that home renovation has been booming in recent years. Canadian Press called the proposed credit a “big budget campaign promise,” but on closer inspection it is pretty underwhelming. Estimated at $1.5 billion per year, Canadians won’t see […]
Read moreHarper’s economics and geocentrism Louis-Philippe Rochon Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics What a month it’s been. While the first half of 2015 has not been kind to Canadians and the economy, July has proven to be worse. On the economic front, we have had a tumultuous month capping a tumultuous first half of the year. When […]
Read moreThe Bank of Canada cut its benchmark interest rate two weeks ago to nearly record lows, now just 0.5%. In the face of an oil shock and other weakness, monetary policy is expected to do the heavy lifting of beating an economic funk. Today’s move reflects a poverty of economic policy from the ruling Conservatives and much of the political class. […]
Read moreSpeculation is intense that the unofficial election campaign we have already been experiencing for several months, is about to become official: Ottawa is awash in rumours the writ may be dropped as early as this weekend, setting the stage for months of promises, accusations, and photo-ops. As always the economy will be the top issue. But with recent bad news, […]
Read moreHarper-economics lead to a Harper-recession and now to a Harper-deficit Louis-Philippe Rochon Associate Professor, Laurentian University Co-Editor, Review of Keynesian Economics Confirmation federal government finances have fallen back into deficit raises more questions about Harper’s image, now more myth than reality, as a sound economic manager. A deficit of course was inevitable once you accept Canada has fallen into a […]
Read moreMr. Harper’s recession Louis-Philippe Rochon Associate professor of economics, Laurentian University Co-Editor, Review of Keynesian Economics Short of a miracle, Canada is officially in recession, which I predicted back in January. But this recession was wholly avoidable had Mr. Harper and his government abandoned their wicked policies of austerity in favour of a growth-oriented fiscal expansionary policy. Bottom line: […]
Read moreThis is a guest blog post from Doug Chaudron: – British journalist Johann Hari recently gave a TED talk, provocatively titled “Everything you think you know about addiction is wrong.†See the 15-minute talk, and find Hari’s biography, at http://tinyurl.com/o5kp779. Some key points made by Mr. Hari in his talk include these: Current approaches to treatment don’t seem to work […]
Read moreGreece and the death of economics, and democracy, and civility, and so much more Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Co-editor, Review of Keynesian Economics Irrespective of whether it was total capitulation, there are already a multitude of analyses trying to decipher what (and how) exactly happened in Greece and whether it could have been avoided. Countless opinions […]
Read moreEvidence continues to mount regarding Canada’s lousy economic trajectory, and there is now a pretty broad consensus among Canadian economists that the economy was likely in recession in the first half of the year. That’s not a sure thing, of course: we won’t know until September 1 if second quarter GDP grew or shrank.
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