How about those productivity numbers that StatsCan released last week? Wow: another nail in the coffin of Jim Flaherty’s claim that Canada’s economic fundamentals are in “great shape.â€Â There’s not much more fundamental in economics than how efficiently people produce stuff (except, of course, for what we do with what we produce – that’s even more fundamental). And by that […]
Read moreWas it just me or did others get a nagging feeling about the intent behind Air Canada’s surprise announcement of 2,000 layoffs yesterday? The media coverage played along the lines of their press release, with a strong focus on the rising cost of fuel. This is certainly an issue, together with the impact of the higher Canadian dollar and the […]
Read moreThe 2008 OECD Economic Review of Canada http://www.oecd.org/document/3/0,3343,fr_2649_201185_40732867_1_1_1_1,00.html contains most of the standard neo liberal policy prescriptions we have come to expect – including a proposed shift to a consumption based tax system. However, they do have the good grace to devote two pages (84-85) to “equity considerations” and even concede that ” efficiency considerations come at a cost – […]
Read moreWith the Conservatives’ “Born in the USA” Copyright Act now tabled, the fur is flying. A year after leaping to the defence of the oil and gas industry, Terrance Corcoran has got Big US Media’s back (does Terry ever stand up for anyone but the wealthy and powerful?). As always, Michael Giest, who knows way more about copyright than yours […]
Read moreIt is with considerable disgust that we watch the Conservatives introduce the US entertainment industry’s wet dream of legislation to amend copyright laws in its favour. Without any evidence that the super-profits being reaped by Big Media have been adversely affected by file sharing. Without any consultation with Canadians. Without any demonstrable benefit to Canadians as consumers, artists or content […]
Read moreIt’s not often that I get my hopes up about a potential volte-face in the way we talk and think about economics at the policy and political level but this is by far the best news I’ve heard in a long long time. It seems that our very own Jamie Galbraith, scion of John Kenneth Galbraith and keynote speaker for […]
Read moreAt the recent PEF annual general meeting, we announced the winners of the 2008 PEF student essay contest. Thanks to Brenda Spotton Visano for coordinating this year’s contest. Graduate winner ($1,000 prize): “Healing a Crisis of Overaccumulation: How Canada’s Public Health Care System is Being Undermined through Accumulation by Disposession” by Heather Whiteside (Simon Fraser University) Honourable Mention : “Swedish […]
Read moreIt is disappointing that the Bank of Canada left the Bank Rate unchanged today at 3%. Many economists had expected a quarter point interest rate cut today, on top of the half point cut announced on April 22nd. The job market has clearly continued to weaken over the past two months because of the high Canadian dollar and the manufacturing […]
Read moreToday at the Canadian Economics Association meetings, the PEF officially awarded the first John Kenneth Galbraith Prize in Economics to co-winners Mel Watkins and Kari Polanyi Levitt. We had a packed room for the event, which featured opening remarks by Jamie Galbraith, and a historical retrospective of their works by Jim Stanford. Below is the text of Mel Watkins’ Lecture. […]
Read moreCCPA submitted a brief to Vancouver City Council about the city’s EcoDensity Initiative, by myself and co-authors, Erick Villagomez, Penny Gurstein, David Eby and Elvin Wyly. We have been working on a bigger climate justice paper looking at affordable housing and EcoDensity, but a short window came up for written submissions on the revised and updated EcoDensity Charter, so we […]
Read moreHaving travelled north of 60 as part of the Yukon Federation of Labour’s campaign against TILMA, I appreciate the territorial government’s decision to not join the deal. I will again be travelling around Canada’s newest TILMA-free zone and not contributing to this blog during the next couple of weeks.
Read moreThrough the following op-ed in Thursday’s Toronto Star, the United Steelworkers’ Canadian Director makes the case for a carbon tariff. It is now widely accepted that the struggle against global warming will involve placing a price on carbon emissions.  An equivalent tariff would prevent corporations from evading this price by relocating their carbon-intensive activities to countries that choose not to price […]
Read moreThe CCPA have posted to their web site Armine Yalnizyan’s excellent presentation to last week’s CLC Convention: http://www.policyalternatives.ca/Reports/2008/06/ReportsStudies1900/index.cfm
Read moreAs highlighted in the most recent version of the OECD Jobs Study, Denmark has recently managed to combine a very egalitarian distribution of wages and incomes with excellent employment and economic performance. The Danish “flexicurity†model gives the great majority of workers decent wages and working conditions, achieved though very high levels of unionization, very high unemployment benefits as a […]
Read moreDenial with a capital “D”. That’s the only way to describe the reaction to Friday’s stunner from Statistics Canada: real GDP shrank 0.3% (at annualized rates) in the first quarter, and hence Canada is likely already in the recession that our fearless government leaders have been saying can’t happen here. For months economists have been wondering if Canada could escape […]
Read moreI have been critical of the Globe‘s business reporting practices in the past (especially its tendency to quote Bank economists as “objective” observers of economic events) but on Saturday, it ran one of the best business pieces I’ve read in a long time. The article, titled “Who is responsible for the global food crisis?” is a solid and thorough piece […]
Read moreEver wonder what the Bank of Canada might do in the event of staflation (high/rising inflation & high /rising unemployment)? Wonder no more. In an interview with LaPresse, our new Governor Mark Carney states, in no uncertain terms, that the Bank’s objective would remain the same as it has been since the early 1990s, namely keeping inflation on target at […]
Read moreWe now have the official schedule for the CEA meetings. Please note that in addition to the sessions below, the PEF annual general meeting is on Saturday June 7 at noon. All paid-up members are welcome to attend. Also, the John Kenneth Galbraith Prize will be awarded on Sunday June 8, 10:30 am. The 2008 co-winners, Mel Watkins and Kari […]
Read moreIf you have visited this blog before you probably know that Erin Weir and I have it in for bogus arguments about alleged but unproven interprovincial trade barriers. Give us some examples, we say, but the rhetoric of trade barriers always seems to trump any actual evidence. And I’m not even talking about empirical evidence with a high degree of […]
Read moreGas prices are way up and look to continue that way looking forward. So what does this mean in terms of behavioural change? Todd Litman does a major review of all kinds of transportation elasticities. An excerpt: As it is usually measured, automobile travel is inelastic, meaning that a percentage price change causes a proportionally smaller change in vehicle mileage. […]
Read moreMurray Campbell’s excellent column in today’s Globe and Mail (excerpted below) accurately portrays the current state of play on the interprovincial trade front, including Steven Shrybman’s constitutional challenge of TILMA in Alberta and BC, Saskatchewan’s continued rejection of TILMA, the Quebec-Ontario negotiations and corporate Canada’s unrelenting push for new powers. One can only hope that the Globe editorial board reads […]
Read moreSummer is coming and so is my favourite band, the Drive-By Truckers. A rare Vancouver appearance at a small venue, the Biltmore Caberet, walking distance from my house. Heck, last year I drove to Portland to see what turned out to be one of the best live shows of my life. I would make the case that DBT are currently […]
Read moreA fine editorial from Marjorie Cohen in today’s Vancouver Sun on the close link between labour policies and wage inequality. http://www.canada.com/vancouversun/news/editorial/story.html?id=4952dab6-b337-42b9-b872-5b338ef3f212&k=85286&p=2
Read moreWell. Finally. Some clarity. Sort of. Earlier this month, Bank of Canada governor Mark Carney made appearances before the House of Commons Finance Committee and the Senate Banking, Trade and Commerce committee to discuss the Bank’s latest monetary policy report . Transcripts are now available and with a little reading-between-the-lines, they tell us a lot, I think, about the true […]
Read moreLast Tuesday’s episode of Politics featured Barb Byers on changes to (Un)Employment Insurance and Michael Ignatieff on the humanitarian crisis in Burma. I naturally agree with Byers, but get nervous whenever Ignatieff starts talking tough about the Responsibility to ProtectTM, the doctrine that he invoked to promote the invasion of Iraq. Ignatieff did not really answer Don Newman’s question about what […]
Read moreJim’s recent mini-study emphasized that profits now occupy gargantuan shares of GDP in the oil-rich provinces. He and The Jurist have noted the total disconnect between corporate profits and personal income in two of those provinces: Saskatchewan and Newfoundland. To explore this issue further, I have pulled some figures out of the recently-released 2007 Provincial and Territorial Economic Accounts (in […]
Read moreAlong with John Edwards, the United Steelwokers union has endorsed Barack Obama for the US Presidency. Those paying attention may recall that, a month ago, the Steelworker President indicated that it would be inappropriate for super (ex-officio) delegates to vote against pledged (elected) delegates in selecting the Democratic nominee. This position rejected Hillary Clinton’s strategy of asking super delegates to […]
Read moreJeffrey Simpson is right to lament that “there is no realistic, sensible debate†about health care in BC. Unfortunately, his May 13th Globe & Mail column “Even the redoubtable Premier Campbell struggles with health care†does not help. Simpson’s main point in the column is that health care spending in BC is rising out of control, defeating Campbell’s efforts to […]
Read moreAn interesting paper: Controversies about the Rise of American Inequality: A Survey by Robert J. Gordon and Ian Dew-Becker. http://www.people.fas.harvard.edu/~idew/papers/BPEA_final_ineq.pdf Abstract This paper provides a comprehensive survey on six aspects of rising inequality: changes in laborÂfs share, inequality at the bottom, inequality at the top, labor mobility, inequality in consumption as contrasted to inequality of income, and international differences in […]
Read morehttp://canadianlabour.ca/index.php/policy_papers I commend to your attention the policy papers which will be presented for discussion and debate at the CLC Convention, which convenes the week after next in Toronto. Progressive economists Mike McCracken and Armine Yalnizyan will help kick-off discussion on the Good Jobs and Growing Gap papers respectively. Though neither they nor the progressive economics community had a direct […]
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