Over at the Behind The Numbers website, I’ve written a blog post titled “Ten considerations for the next Alberta budget.” The blog post is a summary of a recent workshop organized by the Alberta Alternative Budget Working Group. The link to the blog post is here.
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The Progressive Economics Forum: An Analysis of Financial Flows in the Canadian Economy
An essential but perhaps overlooked way of looking at the economy is a sector financial balance approach. Pioneered by the late UK economist Wynne Godley, this approach starts with National Accounts data (called Financial Flow Accounts) for four broad sectors of the economy: households, corporations, government and non-residents. Here’s how
Continue readingMichal Rozworski: The Ontario election isn’t about deficits—and that’s a good thing
How big is your deficit? This Ontario election, no one seems to care—and that’s a decisive positive to emerge from a campaign that’s too often been submerged in the politics of personality. There is more and more light sneaking through the widening cracks in Canada’s austerity consensus. Hopefully, it will
Continue readingThe Progressive Economics Forum: Ten things to know about the 2018 Saskatchewan budget
I’ve written a ‘top 10’ blog post about the recently-tabled Saskatchewan budget. Points raised in the blog post include the following: -This year’s budget was quite status quo. -Last year’s budget, by contrast, included a series of cuts to social spending. Last year’s budget also announced cuts to both personal
Continue readingThe Progressive Economics Forum: Five things to know about the 2018 Alberta budget
On March 22, the NDP government of Rachel Notley tabled the 2018 Alberta budget. I’ve written a blog post discussing some of the major ‘take aways’ from the standpoint of Calgary’s homeless-serving sector (where I work). Points made in the blog post include the following: this was very much a
Continue readingThe Cracked Crystal Ball II: On Government Finances and Debt
In Alberta Views this month, we have a debate column pair about government debt written by economist Trevor Tombe, and former PC finance minister Ted Morton. There are a number of respects in which I find Morton's arguments are profoundly flawed, and I would like to take some time to
Continue readingThe Progressive Economics Forum: Ten proposals from the 2018 Alternative Federal Budget
I’ve written a blog post about this year’s Alternative Federal Budget (AFB). Points raised in the blog post include the following: -This year’s AFB would create 470,000 (full-time equivalent) jobs in its first year alone. By year 2 of the plan, 600,000 new (full-time equivalent) jobs will exist. -This year’s
Continue readingThe Progressive Economics Forum: Panel discussion at federal NDP policy convention
Yesterday I spoke on a panel discussion on economic inequality, along with Andrew Jackson and Armine Yalnizyan. We were guests at the federal NDP’s policy convention in Ottawa. The panel was moderated by Guy Caron. Topics covered included the minimum wage, basic income, affordable housing, the future of jobs, gender
Continue readingThe Progressive Economics Forum: Fiscal situation of Canada’s ‘oil rich’ provinces
I’ve just written a blog post about the fiscal situation of Canada’s ‘oil rich’ provinces (i.e., Alberta, Saskatchewan and Newfoundland and Labrador). It consists of a summary of key points raised at a PEF-sponsored panel at this year’s Annual Conference of the Canadian Economics Association. Points raised in the blog
Continue readingThe Progressive Economics Forum: A Response to the 2017 Saskatchewan Budget
I have an opinion piece on Saskatchewan’s recent budget in the Regina Leader-Post. Points raised in the opinion piece include the following: -Reductions in personal and corporate income taxes help the rich more than the poor (and this budget cut both personal and corporate income taxes). -Increases in sales tax
Continue readingThe Progressive Economics Forum: Ten Things To Know About The 2017 Federal Budget
I’ve just written a blog post in which I review the recent federal budget. Points raised in the blog post include the following: -The federal government is projecting deficits in the $20B-$30B range for roughly the next five years. -This was likely the most important federal budget for housing since
Continue readingThe Progressive Economics Forum: The Alternative Federal Budget 2017
This year’s Alternative Federal Budget (AFB) was released on March 9. I was proud to be the primary author of its housing chapter (that chapter is available in English here and in French here). The first AFB exercise began in 1994, with the first AFB being published in 1995. That
Continue readingThe Cracked Crystal Ball II: On Budgets and Deficits In Alberta
Today was budget day in Alberta. More or less, the NDP government brought in the budget that had been expected. Continued spending on big ticket items that have been put off for years, if not decades. Predictably both the PC and WildRose opposition parties are crying foul. The argument is
Continue readingThe Progressive Economics Forum: Foundations for an Alberta Alternative Budget
An Alberta-based volunteer working group, of which I’m a part, recently released a document titled Foundations for an Alberta Alternative Budget (for media coverage, see this Metro article). Working group members include staff from Alberta’s non-profit sector, labour movement and advocacy sector. While our long-term goal is to emulate the
Continue readingThe Progressive Economics Forum: Lessons from the Reagan Era on Managing Twin Deficits
Below is a guest post from Norman Mogil and Arthur Donner. Lessons from the Reagan Era on Managing Twin Deficits Many in the U.S. are harking back to the Reagan era for guidance on how to implement the pro-growth policies advocated by President Donald Trump and the Republican Congress. When Ronald
Continue readingThe Progressive Economics Forum: The Federal Role in Poverty Reduction
Over at the web site of the Calgary Homeless Foundation, I’m co-author of a blog post titled “The Federal Role in Poverty Reduction.” Points raised in the blog post include the following: -Canada’s Minister of Families, Children and Social Development has been tasked to lead the development of a Canada
Continue readingAlberta Politics: ‘Oh, there you go Bradsplaining again!’ Like it or not, Brads from Saskatchewan just can’t control their Bradsplaining
PHOTOS: Federal Conservative leadership candidate and Bradsplainer Brad Trost shows he’s hip to the jive with this newfangled technology stuff. (Photo from BradTrost.ca.) Below: Brad Wall, another well-known Bradsplainer, Bradsplaining, and blogger word-coiner Dave Cournoyer, kitted out to observe one of Rebel Media’s rallies. Uh-oh! We’re about to be “Bradsplained”!
Continue readingThe Progressive Economics Forum: February Labour Force Woes
The unemployment rate is up again this month, to 7.3%, with 1.4 million workers looking for jobs in February. A loss of full-time work was partly replaced by part time positions. A disproportionate percentage of last year’s growth came from precarious self-employment. Remember those heady days when we could say that at least Canada’s unemployment rate […]
Continue readingIn This Corner: Stuff Still Happens, week 8: Deficits, drugs and death
The big issue of the week in Canada, where we worry about these things for some reason, was deficits. The new Liberal government, which promised to run a $10 billion deficit to boost the economy, is instead going to be about $30 billion in the hole. Here in the People’s Republic of Alberta, the provincial […]
The Progressive Economics Forum: Who’s Afraid of Deficits?
We all knew that Budget 2015 was optimistic about medium term growth and rebounding oil prices, but the good people at the PBO have given us an indication of just how far off those projection were. They estimate that nominal GDP will be about $20B lower through 2020 ($30B lower
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