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  • True, Lasting Reconciliation November 21, 2018
    For the first time, a report outlines what implementation of the United Nations Declaration on the Rights of Indigenous Peoples could and should look like at the provincial level. This report focuses on implementation in BC law, policy and practices. Fundamental to the UN Declaration is an understanding that government must move from a “duty […]
    Canadian Centre for Policy Alternatives
  • Boom, Bust and Consolidation November 9, 2018
    The five largest bitumen-extractive corporations in Canada?control 79.3 per cent of Canada’s productive capacity of bitumen. The Big Five—Suncor Energy, Canadian Natural Resources Limited (CNRL), Cenovus Energy, Imperial Oil and Husky Energy—collectively control 90 per cent of existing bitumen upgrading capacity and are positioned to dominate Canada’s future oil sands development. In a sense they […]
    Canadian Centre for Policy Alternatives
  • A new Director for CCPA's BC Office: Message from Mary Childs, Board Chair October 24, 2018
    The CCPA-BC Board of Directors is delighted to share the news that Shannon Daub will be the next BC Director of the Canadian Centre for Policy Alternatives. Last spring, Seth Klein announced that, after 22 years, he would be stepping down as founding Director of the CCPA-BC at the end of 2018. The CCPA-BC’s board […]
    Canadian Centre for Policy Alternatives
  • Who Owns Canada’s Fossil-Fuel Sector? October 15, 2018
    The major investors in Canada’s fossil-fuel sector have high stakes in maintaining business as usual rather than addressing the industry’s serious climate issues, says a new Corporate Mapping Project study.? And as alarms ring over our continued dependence on natural gas, coal and oil, these investors have both an interest in the continued growth of […]
    Canadian Centre for Policy Alternatives
  • Pharmacare consensus principles released today September 24, 2018
    A diverse coalition representing health care providers, non-profit organizations, workers, seniors, patients and academics has come together to issue a statement of consensus principles for the establishment of National Pharmacare in Canada. Our coalition believes that National Pharmacare should be a seamless extension of the existing universal health care system in Canada, which covers medically […]
    Canadian Centre for Policy Alternatives
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Archive for 'Balanced budgets'

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 it works: in any given […]

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 post include the following: -The […]

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 Poverty Reduction Strategy. -Total public […]

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 projections were. ?They estimate that nominal GDP will be about $20B lower through 2020 ($30B lower in 2016), which also means […]

Election 2015: Trudeau’s Court of Economic Advisors

a€?I dona€?t read newspapers, I dona€?t watch the news.?? I figure, if something important happens, someone will tell me.a€? Justin Trudeau’s surprising confession in a 2001 Globe and Mail essay (“Something I’m Passionate About”, Feb.3) raises three questions: 1) ??does he read newspapers and watch the news now?; 2) if yes, does he read the??Report […]

Election 2015: An Escape Hatch for the NDP?

In an earlier post, I sought to explain (not necessarily defend) the Mulcair teama€?s decision to run balanced budgets as an election campaign tactic to counter being branded by the Conservatives (and potentially the Liberals)as a profligate manager of the public purse. ??Whether or not this tactic is successful will ultimately reflect in the October […]

Missing in (debate) action: macroeconomic lessons from the Great Depression

This is a guest blog post from Mario Seccareccia, Professor of Economics, University of Ottawa. ——- Since the October 2008 federal election, Canadian politicians have been struggling to come to terms with what to all accounts has turned out to be a a€?litea€? version of the 1930s, whose major difference is that today we have […]

Election 2015: The Political Economy of Balanced Budgets

First, disclosure. ??I wear several hats. ??In addition to being a progressive economist, I am ??a member of the NDP. ??I have been since 1988. ??I will be voting for the NDP candidate in my riding and I just donated $100 to the party,with more to follow. The recent promise of four years of balanced […]

The Austerity Trap

Louis-Philippe Rochon is associate professor of economics at Laurentian University and co-editor of the Review of Keynesian Economics. Originally published by CBC.?? See here. In its April budget, the federal government announced it had succeeded in balancing the budget. Such an achievement, however, will prove to be at best a Pyrrhic victory. History shows austerity […]

My “Top Five” Most Outrageous Things About This Budget

With a document whose very timing, let alone content, was so transparently politicized and manipulative, it’s hard to even know where to start.?? Among the many galling, short-sighted, and ultimately destructive components of this federal budget, here are 5 that stand out in my view: Enjoy and share:

ROCHON on 2015 budget: Conservatives making a mockery of working Canadians

CONSERVATIVES MAKING A MOCKERY OF WORKING CANADIANS Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Co-Editor, Review of Keynesian Economics   Today, with great fanfare, Minister of Finance, Joe Oliver, tabled his much-delayed budget in the House of Commons. Despite the governmenta€?s best effort to confuse Canadians with tales of terrorism, the economy and job […]

ROCHON on balanced budgets

Balanced budget legislation will be disastrous for Canada Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Co-Editor, Review of Keynesian Economics Twitter @LPROCHON   Finance Minister Joe Olivera€?s latest muses about introducing balanced budget legislation is the worst policy for Canada, and will doom us to European-style crises and rob future generations of prosperity. While […]