Michal Rozworski: Elites debate boosting the economy, but for whom?

Elites and the talking heads in the media are arguing about how to respond to Canada’s soured economic outlook. Who should try to boost the economy, the federal government via fiscal stimulus or the Bank of Canada via monetary policy? But while elites argue amongst themselves, the overriding context is a transfer and concentration of ...

Political Eh-conomy: QE: Furthering the habit of privatizing gains and socializing losses

“Privatizing gains and socializing losses” could be the motto for the neoliberal era. Alongside this and “there is no alternative”, few slogans better capture the ideology that has been so successfully diffused throughout the world over the past several decades. Five years after latest financial crisis, this motto rings true as ever. To say that ...

Political Eh-conomy: Myths of central banking

The Bank of Canada has been in the news lately – or, more precisely, the news has been full of other well-placed people telling our central bankers what to do. In an interview on CTV this past weekend, Jim Flaherty made comments (later retracted) that Canada’s central bank will be pressured to raise interest rates ...

Dead Wild Roses: Quantitative Easing – Econospeak for “Frak-you”

     Acting responsibly with your money, saving it perhaps? You sir/madam are an idiot; at least according to the Bank of Canada. “Why are you not out there spending money and making the economy grow?”, asks our benevolent Central Bank.  The temerity you have displayed (despicable saver!!), acting responsibly and not going credit debt wild ...