#neoliberalism Under Flaherty the #cdnecon since 2006 has been a debt-fuelled financialized one only with little real production, productivity, or significantly increased employment to drive demand. Credit card debt has gone from $35.6 billion in February 2006 to $77.4 in February 2012, a staggering 117% increase. Mortgage debt has gone from $672.5
Continue readingTag: neoliberalism
Politics and Entertainment: Inform your "fiscally conservative" friends please of this astounding failure
#neoliberalism Under Flaherty the #cdnecon since 2006 has been a debt-fuelled financialized one only with little real production, productivity, or significantly increased employment to drive demand. Credit card debt has gone from $35.6 billion in February 2006 to $77.4 in February 2012, a staggering 117% increase. Mortgage debt has gone from
Continue readingPolitics and Entertainment: Inform your “fiscally conservative” friends please of this astounding failure
#neoliberalism Under Flaherty the #cdnecon since 2006 has been a debt-fuelled financialized one only with little real production, productivity, or significantly increased employment to drive demand. Credit card debt has gone from $35.6 billion in …
Continue readingPolitics and Entertainment: To begin the process of democratizing the economy step 1 is to restore the banks to their status as public utilities
More at The Real News This is Part 2 of a three part discussion with James K. Galbraith and Leo Panitch on whether any sort of New Deal is now possible in America. This segment crystallizes for me the difference between Keynesian reformers like Galbraith and Krugman, say, and revolutionaries like Panitch. Galbraith continues to have faith in
Continue readingPolitics and Entertainment: To begin the process of democratizing the economy step 1 is to restore the banks to their status as public utilities
More at The Real News This is Part 2 of a three part discussion with James K. Galbraith and Leo Panitch on whether any sort of New Deal is now possible in America. This segment crystallizes for me the difference between Keynesian reformers like Galbraith and Krugman, say, and revolutionaries like Panitch. Galbraith continues to have faith in
Continue readingPolitics and Entertainment: To begin the process of democratizing the economy step 1 is to restore the banks to their status as public utilities
This is Part 2 of a three part discussion with James K. Galbraith and Leo Panitch on whether any sort of New Deal is now possible in America. This segment crystallizes for me the difference between Keynesian reformers like Galbraith and Krugman, say, and revolutionaries like Panitch. Galbraith continues to have faith in regulation and the government institutions that are capable of controlling economic and financial policies, claiming in effect it’s just a question of reform, of having the right personnel in those institutions and a reasonable government in power. Panitch recognizes that the problem isn’t a mere issue of personnel or government. It’s a structural problem because these institutions are embedded in Wall Street, maintaining the financialization of the economy and undermining thereby a real industrial economy based on supply and demand. These institutions in fact serve Wall Street.
What we need, Panitch argues – and I could’t agree more – is to begin the process of aggressively democratizing the economy. The first step would be to restore banks to their status as public utilities, for it is the oligarchical control of banking corporations with their destructive neoliberal policies that is the root cause of all our social and economic malaise.
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Politics and Entertainment: A 516.7 billion increase in personal debt and 140 billion in federal debt since Flaherty took over
#cdnecon An Appalling Performance from a Finance Minister. » Whatever economic movement we’ve had has been fuelled by essentially personal debt, an astonishing 516.7 billion increase since 2006, at a staggering 165% debt to disposable income ratio. Only #banksters and the investor class benefit from such a financialization of the economy. And we’re 140 billion deeper
Continue readingPolitics and Entertainment: A 516.7 billion increase in personal debt and 140 billion in federal debt since Flaherty took over
#cdnecon An Appalling Performance from a Finance Minister. » Whatever economic movement we’ve had has been fuelled by essentially personal debt, an astonishing 516.7 billion increase since 2006, at a staggering 165% debt to disposable income ratio. Only #banksters and the investor class benefit from such a financialization of the economy. And we’re 140 billion deeper
Continue readingPolitics and Entertainment: A 516.7 billion increase in personal debt and 140 billion in federal debt since Flaherty took over
Whatever economic movement we’ve had has been fuelled by essentially personal debt, an astonishing 516.7 billion increase since 2006, at a staggering 165% debt to disposable income ratio. Only #banksters and the investor class benefit from such a financialization of the economy. And we’re 140 billion deeper in federal financial debt since Flaherty took over with a net debt balance of 650 billion and a stagnating global economy – the effects of which will be hard to escape since, lacking a diversified domestic economy, all our economic growth eggs are in export markets and in particular commodities – namely oil and mining. The classic neoliberal agenda has failed miserably. Time for Drummond, Hyder, O’Leary and Co. to wake up from the dream.
Where is the $14-billion from the GST rate cut now? #cdnpolisoa.li/MOQwOlB
— barrie mckenna (@barriemckenna) March 25, 2013
Shorter Waldmann on Yglesias and monteraism
The long version is here. Apparently Mr.. Waldmann was tricked into reading Matt Yglesias on monetary policy. Waldmann’s observation goes something like this in short from: Hey Matt you have been consistently wrong in your predictions on the power of monetary policy, if fact your predictions have been so wrong
Continue readingAlex's Blog: The Trouble With Austerity: Economics as Ideology
A somewhat abridged version of this post first appeared in The Toronto Star here Governments here and elsewhere are increasingly preoccupied with cutting even as evidence piles up of its harmful consequences on people and the economy. Austerity is not even delivering the balanced budgets its advocates promise. Even the
Continue readingAlex's Blog: The Trouble With Austerity: Economics as Ideology
A somewhat abridged version of this post first appeared in The Toronto Star here Governments here and elsewhere are increasingly preoccupied with cutting even as evidence piles up of its harmful consequences on people and the economy. Austerity is not even delivering the balanced budgets its advocates promise. Even the
Continue readingIs Heterodox Economic Pedagogy Flawed?
I won’t bury the lead. Yes I think heterodox pedagogy is critically flawed at least at the popular and undergraduate levels. Yesterday I had the fortune of bearing witness to a exchange between a sociologist and an economist. Both are well published and respected within their respective fields. Predictably,
Continue readingHow absurd has multinational corporate practice gotten? According to the OECD ridiculous
It is really hard being an honest analyst. You spend most of your time being ridiculed by your on-the-take (in one form or another) adversaries. But sometimes the data speaks so loud, and the right political climate evolves, that the stars align and the glaringly obvious dare speak its name.
Continue readingThe Bad Taste and Big Waste of Public Private Partnerships
This is a guest post written by Eric Newstadt, the GM of the Ryerson Student Centre. This post highlights why P3s are a preordained and preplanned market failure. —————- For some years now, Ryerson University has been pouring millions of dollars into its food services program so as to support
Continue readingOPSEU Diablogue: Required reading: Monbiot on the failure of NeoLiberalism
You’ve got to love George Monbiot, the UK author, journalist and activist. His engaging BLOG is high on our list of regular must-reads. This is how George describes his role: “Here are some of the things I try to fight: undemocratic … Continue reading →
Continue readingPutting lipstick on the PIIGS: the health of modern macroeconomics
Ok, so some of the best economists, trained at elite institutions, working for the pinnacle of the of the financial world got it wrong, very wrong. How wrong? Just go ask a Greek citizen. But, of course, we all knew that just by reading the headlines coming out of Greece
Continue readingPolitics and Entertainment: Premiers Goal to Increase CPP both Pragmatic and Desirable
“Flaherty said Friday the federal government is concerned about increasing CPP contributions at the current time because it would slap an additional financial burden on employers during fragile economic times, potentially threatening their ability to hire workers. The federal government can’t unilaterally change the CPP; amending it requires the backing
Continue readingPolitics and Entertainment: Premiers Goal to Increase CPP both Pragmatic and Desirable
“Flaherty said Friday the federal government is concerned about increasing CPP contributions at the current time because it would slap an additional financial burden on employers during fragile economic times, potentially threatening their ability to hire workers. The federal government can’t unilaterally change the CPP; amending it requires the backing
Continue readingPolitics and Entertainment: Premiers Goal to Increase CPP both Pragmatic and Desirable
“Flaherty said Friday the federal government is concerned about increasing CPP contributions at the current time because it would slap an additional financial burden on employers during fragile economic times, potentially threatening their ability to hire workers. The federal government can’t unilaterally change the CPP; amending it requires the backing of two-thirds of the provinces representing two-thirds of the population. “This is not the time to put another burden on employers and dampen employment prospects for Canadians. That’s my view. Not everyone agrees with that view,” Flaherty told reporters Friday in Ottawa.
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