On Tuesday, Statistics Canada reported that job vacancies have fallen to the lowest level recorded since it began collecting these figures two years ago. On Wednesday, the Bank of Canada projected growth of just 1.5% for this year. On Thursday, Statistics Canada reported that the number of Canadians receiving Employment Insurance (EI) benefits edged down in February. Meanwhile, the Labour Force […]
Read moreThey’ve haunted me. Incessantly. The ghosts of Reinhart and Rogoff. Their research here, there, everywhere. Bank of Canada speeches? Yes. Finance Department talking points? Check. House of Commons debates? Yup. Globe editorials? Ditto. Discussions with fellow progressives? Sadly, yes. Results? Arguments conjured in their name. Reason decapitated. Modern Monetary Theorists (MMT) banished to the netherworld of cranks. But we told […]
Read moreRegulations guiding the new Social Security Tribunal came into force April 1st, 2013, and are available online at the Canada Gazette. Â The SST combines the first and second level of client appeals for CPP, OAS, and EI into one tribunal. HRSDC expects that the changes will result in $25 million in annual savings, due to centralized administration and the magic […]
Read moreHere is my take from today’s Economy Lab in the Globe. To expand a bit on alternatives, my take is that the neo liberal turn at the end of the 1970s was one possible response to the stagflation crisis, which found mainstream Keynesian economics wanting. Left Keynesians such as Kalecki had long recognized that full employment capitalism with strong unions […]
Read moreAn oped based on my and Brock Ellis’ recent report, Canada’s Carbon Liabilities, was published in iPolitics (alas, behind a pay wall): Canada’s economic development model is on a collision course with the urgent need for global climate action. Worldwide, extreme weather events from drought to floods to powerful storms and record-breaking temperatures are making a powerful statement that climate […]
Read moreArmine and I have some comments in today’s Toronto Star article on Temporary Foreign Workers (page B1). Armine has been commenting extensively on this issue and my head talked for a few seconds on last night’s The National. Here is my online Globe and Mail op-ed: Reining In The Temporary Foreign Worker Program Reports of RBC outsourcing jobs to temporary foreign […]
Read moreThe following is based on a talk at the Bring Your Boomers election forum on April 3 at the Rio Theatre in Vancouver, the fourth in a series of intergenerational dialogues from Gen Why Media, and was co-sponsored by the CCPA, Get Your Vote On, LeadNow and Vancity credit union. I was asked to set the stage for a conversation on climate justice between three youth and five politicians […]
Read moreThe headline numbers are bad enough: “employment declined by 55,000 in March, all in full time. The unemployment rate rose 0.2 percentage points to 7.2%.†The underlying numbers are ugly. The employment decline would have been worse but for a large jump in self-reported self-employment. The number of employees with positions paid by an employer actually fell by 93,100 in […]
Read moreOn Monday, Andrew wrote that we need a Bay Street sunshine list. Today, we got something almost as good: a Fraser Institute sunshine list, courtesy of US tax filings and The Ottawa Citizen’s Glen McGregor. This piece is a great counterpoint to the Fraser Institute’s recent attack on public-sector salaries. I hope it is printed in the newspaper as well […]
Read moreLast week’s report from BC’s Auditor General dealt a huge blow to the credibility of carbon offsets and claims that BC had achieved a state of “carbon neutral government.” Coverage of the AG’s report was coloured by accusations from the Pacific Carbon Trust, the Crown corporation created to buy and sell BC offsets, and “experts” from the offset industry that the AG did […]
Read moreLast week’s publication of the so-called “sunshine†list of 88,412 Ontario public sector workers earning more than $100,000 per year elicited lots of howls of outrage in terms of on line commentary. It should not be forgotten that the whole point of the annual list – which dates back to the Harris days – is to yank on the […]
Read more2013 may be your lucky year! The details of this year’s PEF student essay contest are now online. Please note the May 3 deadline and put up this poster to promote the contest.
Read moreFor the 15th consecutive year, the Progressive Economics Forum (PEF) is sponsoring its own events at the Annual Conference of the Canadian Economics Association (CEA). This year’s Annual Conference of the CEA is taking place at HEC Montréal. PEF events will take place in the May 31 – June 2 period. All information pertaining to PEF events can be found […]
Read moreBelow is the summary for our latest Climate Justice Project report, Closing the Loop: Reducing Greenhouse Gas Emissions and Creating Green Jobs through Zero Waste in BC (I recommend checking the much prettier full paper, stand-alone summary, and awesome infographic by Sam Bradd on the website). Closing the Loop was a complex and challenging project that made my head spin, but in the end is one […]
Read moreDivestment from fossil fuels is an idea whose time has come. Sparked by Bill McKibben’s Rolling Stone article last summer, “Global Warming’s Terrifying New Math”, divestment campaigns are now up and running on over 300 university campuses in the US, with 4 early victories already notched. Students in Canada have declared tomorrow (March 27) Fossil Fools Day, a national day of action, with many campuses launching […]
Read moreThe Nova Scotia provincial government is set to introduce its promised balanced budget this year. The Nova Scotia Alternative Budget, released today, proposes some concrete choices rooted in Nova Scotia communities. Rather than pay down debt, the NS-APB prioritizes balancing the social debt threatening Nova Scotia. Can a budget really be considered balanced when unemployment is 9.3%, and 47,000 Nova […]
Read moreOne the most amazing things about this budget is that one of its three focuses will actually be the opposite of what it’s touting. You’ll likely hear that $14 billion will be spent on infrastructure over the next 10 years (actually you may hear much bigger numbers but they just re-announce existing programs like the gas tax transfer). What you […]
Read moreA letter appears in today’s Globe and Mail in response to recent direction given by Minister Flaherty to private mortgage lenders over mortgage rates. The letter was written by Steve Pomeroy, one of Canada’s leading housing policy experts. Here is the full text of the letter: – Glass-house mortgages Twice in recent weeks, the Minister of Finance has chastised Canada’s […]
Read moreIt’s hard to get excited about Thursday’s federal budget. All signs point to an “austerity” budget, even though that approach has failed so spectacularly wherever it has been tried. Austerity is one of those zombie ideas that cannot be killed, roaming rampantly across the pages and screens of the mainstream media. The 2012 federal budget already took a big step […]
Read moreThese are the remarks by David MacDonald and I prepared for the press conference marking the release of the AFB 2013 in Ottawa, March 12, 2013. Time flies and our Alternative Federal Budget is now in its 19th year. Year after year it has shown that we can have a Canada where we all do better together. This year the AFB is […]
Read moreAs we discuss Dutch disease and the staples trap, it is good to be reminded that these discussions can benefit by being put in the context of Albert Hirschman’s linkages from commodity/resource/staple export. It so happens that a recent monograph begins with Hirschman and then elaborates on his linkages, and applies them in case studies. The study, titled “One Thing […]
Read moreOn the occasion of International Women’s Day, we ask: Are more women making it to the top in Canada? And what does that mean for the 100 per cent? The 2013 edition, by the numbers. (All data are most recently available statistics.) 1 out of 5: 21 per cent of the people in the top 1 per cent of income […]
Read moreThe following guest post was written by Chris Watson, legislative liaison for CUPE Ontario based in Toronto: In stark contrast to the austerity budget strategy of Don Drummond, Dalton McGuinty and Dwight Duncan, a plan premised on Drummond’s core belief that strong economic growth in Ontario is not possible and should not be the goal of Ontario budget policy, the […]
Read moreIn the hyper-polarized context of Canadian energy policy debates, even suggesting that there might be a downside to the untrammeled energy boom centred in northern Alberta is enough to get you labelled a traitor or an economic illiterate — or both. Conservative political leaders in both Ottawa and Edmonton, backed by energy-friendly think-tanks and the Sun media chain, have tried […]
Read moreThe Globe and Mail (Feb 28) reports that “in the past few years…Canada’s resource plays have attracted international attention, and Canada has punched above its weight in generating fees for bankers and lawyers. Deals last year such as the takeovers of Nexen Inc. and Progess Energy made Canada the second-biggest source of deal fees in the world.”
Read moreA version of this article appeared today in the Globe and Mail’s Economy Lab. (This version includes references to the debate plus charts and graphs from data specially tabulated from Statistics Canada’s Labour Force Survey. The data don’t include the self-employed.) President Obama put the idea of raising the minimum wage on the radar in the U.S. It deserves to […]
Read moreSome colleagues at the US NGO Global Exchange tipped me off to some sneaky data doctoring done by the Fraser Institute on climate change. The source is Understanding Climate Change: Lesson Plans for the Classroom, a resource for high school teachers. The particular graph is on page 69 (first page if you click on Lesson 5), attributed to NASA’s Goddard Institute for […]
Read moreLate in the last calender year, the U.S. FCC (Federal Communications Commission) sent a letter to the FAA (U.S. Federal Aviation Administration) advising it to “enable greater use of tablets, e-readers, and other portable devices” during flights. “They empower people to stay informed and connected with friends and family, and they enable both large and small businesses to be more […]
Read moreIn a very long and fascinating speech which has been amplified by Martin Wolf in the FT, Lord Adair Turner seeks to break the taboo on discussion of the potential ability of central banks to monetize fiscal deficits. His argument boils down to a political economic one … Some monetization might be useful in certain circumstances such as in Japan […]
Read moreWhat not to say in an interview if you’re on EI, and other nightmares The latest detail to emerge about the recent changes to EI is from the Digest of Benefit Entitlement Principles. Â The Digest is a guide to enforcing Employment Insurance, with definitions of key terms, and elaborates on expectations of EI claimants and penalties for errors. In Chapter […]
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