“The fact that the Clark government’s Frankenstein HST hybrid will significantly reduce provincial sales tax revenue at a time when public services are already under intense fiscal pressure is a powerful and principled reason to throw the whole package out in the referendum, and start the debate from scratch.†I may live in Ontario, but I know enough about B.C. […]
Read moreDoes anyone else find it odd that a free-market-worshipping government can happily leap into the fray to micro-manage a labour market outcome (deciding, for example, that postal workers must get 1.75%, not 1.9%, in the first year of their new contract), yet pleads powerlessness when it comes to interfering with market outcomes that are genuinely harming our economic trajectory? Here’s […]
Read moreRob Silver, a sharp guy I first met through university debate, has written a rather disappointing piece entitled, “Would NDP be neutral were it in power during a labour dispute?†This question is interesting and significant. On the one hand, the NDP’s political philosophy is strongly supportive of working people. Compared to Liberals and Conservatives, NDP provincial governments have consistently […]
Read moreStatistics Canada figures indicate that private non-financial corporations held $471 billion of cash in the first quarter of 2011 ($322 billion of Canadian currency plus $149 billion worth of foreign currency). Including short-term paper would bring this total to half a trillion dollars, enough to pay off the national debt (i.e. accumulated deficit). Cash hoarding is a critical point in […]
Read moreThe new issue of the International Journal of Labour Research (edited by Canada’s own Pierre la Liberte ) entitled “Crisis: Causes, Prospects and Alternatives” is now available. The issue takes a critical look at policies that led to the 2007-08 crisis and considers alternatives to orthodox policies both North and South. It features articles by Robert Wade, Eckhard Hein, and […]
Read moreMy copy of the Globe and Mail the other day included the July edition of the Report on Business magazine, featuring its annual ranking of the top 1000 publicly-traded corporations in Canada. The survey makes for fascinating reading. In honour of Canada Day, I would like to present a few statistical factoids about these huge institutions that determine the direction […]
Read moreStatscan have produced interesting and important new estimates of the upper bound size of the “underground” or “non observed” economy, putting it at a seemingly modest 2.2% of GDP in 2008. (Some of this is already included in GDP which is adjusted to take into account some hidden and unreported economic activity.) The 2.2% estimate shows that we are a […]
Read moreWith much of the talk on taxes in BC about the HST, we issued a new report today that looks at the bigger context for BC’s tax system (Vancouver Sun oped here, CTV News story here). Iglika Ivanova, Seth Klein and I compare and contrast BC’s tax system after a decade where tax cuts were touted as the solution to […]
Read moreAn important paper by Bruce Western and Jake Rosenfeld which is forthcoming in the American Journal of Sociology finds that the decline in private sector union density in the USÂ (from 34% to 8% for men, and from 16% to 6% for women) explains one fifth to one third of the increase in inequality of hourly earnings over the […]
Read moreManufacturing jobs have been declinining as a percentage of total jobs in most OECD countries for several decades, with Ontario being especially hard-hit as a jurisdiction. At the end of the Second World War, manufacturing jobs accounted for 26% of all Canadian jobs; by 2007, this figure had dropped to just 12%. And as I’ve written about elsewhere, the Harper […]
Read moreWith the Summer reading season at hand, here is a short list – in no particular order – of the best books I have read over the last couple of years on the roots and implications of the Great Recession – essential reading for all progressive economists. John Cassidy. How Markets Fail: The Logic of Economic Calamities. (Penguin, 2009.) An […]
Read moreBC Stats put out a release yesterday with the headline “Low Income Cut-Offs (LICOs) are a Poor Measure of Poverty” and author Dan Schrier gets in a dirty hit right in first paragraph: Despite protestations from Statistics Canada that LICOs are not meant to be used as a measure of poverty, there are many groups that insist on using them […]
Read moreStatscan have released an interesting paper, “The Income Management Strategies of Older Couples in Canada.” It looks at who controls the family finances in couples with one partner aged 45 and over. (They used the age cut off because a special question was added to the General Social Survey which is restricted to that age group.) This is important because […]
Read moreAfter at 2010 that was one of the warmest years on record, 2011 has shown us astonishing patterns of extreme weather worldwide. It would take a long time to make the full list, but you know what I mean: tornadoes, floods, drought, record cold in some parts, record heat in others, hailstorms (Al Gore does a pretty good summary of […]
Read moreAs is well-known, young people are still bearing the brunt of the recession. The employment rate for youth aged 15-24 last month was 55.6%, well down from 60.3% back before the recession in September, 2008 due to an increase in unemployment and an increase in those not looking for work. And the proportion of youth in part-time jobs has risen. […]
Read moreEven though labour relations is largely a provincial responsibility in Canada, we were worried about what would happen in this field under a Harper majority. And it didn’t take long to find out. In the disputes at both Air Canada and Canada Post, the government waded into the fray in a pre-emptive and utterly one-sided manner. With both the timing […]
Read more(The following was sent by ITUC Washington representative Peter Bakvis and deserves wider distribution. While this action by the World Bank might reduce food prices at the margin, it would be far preferable for them to push for regulation of speculation in food instead of joining in a destructive game.) In partnership with Wall Street investment bank JP Morgan, […]
Read moreI have an opinion piece in today’s Toronto Star regarding Toronto’s Mayor, Rob Ford, and the Toronto Community Housing Corporation (TCHC). Mr. Ford would like to see a considerable number of units from TCHC’s existing stock sold off. For background on the issue, please my blog post of April 13, which can be found here. In today’s piece, I argue that it is more […]
Read moreUniversity of Sherbrooke economist and fiscal specialist Luc Godbout with Suzie St-Cerny and Michaël Robert-Angers has just published a timely research paper evaluating the net fiscal impact on households of Québec’s income tax system.Timely because, as discussed here be Armine Yalnizyan recent data from stats can shows that though globally income inequality has risen during the last recession, they have […]
Read moreToday’s release of the annual Income in Canada report is Statistics Canada’s first word on the impact of the Great Recession on Canadians’ incomes. The report in The Daily was presented as a non-event, but the data reveal important stories about the winners and losers since the recession. What comes through loud and clear is the fractured nature of the […]
Read moreToday (June 15th) the Toronto Star broke news that the NDP was planning to drop the term “socialism†from its party’s platform. This was a mere formality of what had been in existence for decades: the party hasn’t been “socialist†in any shape or form for a very long time. On the very same day, new data emerged from the […]
Read moreToday’s Statscan release “Incomes of Canadians” provides data for 2009 and a partial reading on the impacts of the recession. (I say partial because the 2008 annual average data were impacted by the onset of the recession in the last quarter of the year, and since these impacts continued well into 2010.) The data give some sense of the devastating […]
Read moreHow coincidental that the current number of the Canadian Investment Review arrived in my in-box today, just hours after CAW members at Air Canada hit the bricks to reject the company’s demand to abolish the defined benefit pension plan for new hires (and impose major cuts in pensions for the existing workforce). The demand to eliminate DB plans is a […]
Read moreDon Drummond has an op-ed in today’s Toronto Star concluding: Federal and provincial governments and the Canadian business sector should [establish] monitoring mechanisms that will permit regular reports to Canadians on whether the Canadian corporate tax revolution is producing benefits for them. As an advocate of corporate tax cuts, he believes that such benefits exist. I am more skeptical and […]
Read moreThe Canadian Union of Public Employees has launched a great new blog, Imagine What We Could Do, about the things Saskatchewan should accomplish by raising resource royalties. It draws upon this blog’s analysis of how the province could collect more resource revenue and outlines public expenditure priorities for those funds.
Read moreCAW members at Air Canada are coming down to the wire in their bargaining with the company, with a strike deadline set for this Monday at midnight. It’s really the first “normal” round of bargaining the workers have been able to undertake since 2000. Since then, they’ve been through two rounds of CCAA court-supervised restructuring bargaining, one arbitrated wage settlement […]
Read moreThe ubiquitous Ish Theilheimer of the left-wing on-line news site Straight Goods has written a very generous profile of the Progressive Economics Forum. He hung out at last weekend’s CEA meetings at the University of Ottawa for a while, and caught a few PEF members (including myself, David Robinson, and Brendan Haley) on the way into various sessions. He filmed […]
Read moreAccording to an article in yesterday’s Toronto Star, the Ontario government will create room for 60,000 new students in its colleges and universities by 2015-2016, 10% of which will be for graduate students. (I assume this means that, by 2015-2016, there will be 60,000 more students enroled in Ontario’s post-secondary insitutions than is currently the case, and that 10% of these new spaces […]
Read moreThere is an excellent post by Scott Sinclair at the CCPA blog.
Read moreMachiavelli has nothing on these guys. Let’s deconstruct for a moment the central message of today’s 2011 Federal Budget, Take 2: “Storm clouds are gathering in the world economy. We must rush to get our fiscal house in order, lest we be struck by another tempest. We will advance our own ambitious timetable for balancing the budget by a full […]
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