The Price of a Promise
Since money always enables a claim on real resources, it provides power in the real world. How it does so, however, is a complicated story mediated by legal and political institutions.
Monetary Policy
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Capping Prices and Profits in the Fight for Affordability with Angella MacEwen
“Corporations in sectors where there’s three or four major players have been able to take advantage of the moment and set their prices higher.”
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Is Canada’s Economy Facing a “Productivity” Crisis? with D.T. Cochrane
“This is serving the interests of the capitalists who have been the beneficiaries of the gains in productivity without the gains in worker purchasing power.”
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Bank of Canada Independence Vs. Accountability
The origin of the concept of central bank independence is a critique of social democratic ideas prevalent during the middle part of Friedman’s career.
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Housing and the Contradictions of Conventional Economics
Ordinary Canadians will certainly feel the heat from the price of housing when monetary policy adds fuel to the fire while their pay cheques freeze.
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Is inflation a threat?
We can hardly tackle obscene and rising levels of economic inequality if we are not prepared to see a sustained rise in wages at the expense of the capital share of national income, and a sustained period of wages growing at least in line with growing productivity.
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Canada needs to learn from U.S. Federal Reserve’s mistakes
The next financial crisis is coming, sooner more likely than later. And Canada has no reason to be complacent, given its own vulnerabilities.
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Challenging the economic dogma of a “natural” unemployment rate
While most economists accept that there is some trade-off between unemployment and inflation, no one really knows how low unemployment can fall before wages begin to rise at a faster pace.
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The global slump and the monetary taboo
Turner is clear that any move in this direction should be undertaken by central banks, not by governments seizing control of the printing press, and is certainly aware of the risk of inflation if directly financed deficits get out of hand.
