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BTL 4

Andrew Jackson

  • The fiscal deficit, modern monetary theory and progressive economic policy

    If we want much more public investment, we will have to give less priority to private consumption, especially the luxury consumption of the rich. If we want greater control of our economy, we must confront the power of private financial interests. MMT, based on the theoretical legacy of Keynesian economics, offers us a way forward, but it does not free us from the very real constraints of capitalism.

  • Mel Watkins: A life well lived

    Mel Watkins, who passed on April 2, was a wonderful human being, a friend and mentor, the leading left economist of his or indeed any generation in Canada, and, not least, a committed democratic socialist and political activist. He will be greatly missed. But his life leaves behind an inspiring legacy.

  • Between Dystopia and Democratic Socialism

    After the fall of the Berlin Wall, there was a widespread sense that liberal capitalism had triumphed in the battle of ideas, and that socialism as a plausible alternative was pretty much dead. But the many crises of contemporary capitalism – obscene levels of economic inequality, looming ecological disaster, the rise of the racist and anti-democratic populist right – threaten dystopia, an unbearable future. In response, the idea of socialism has been re-discovered by a layer of activists struggling for radical change, especially young people.

  • Is ‘postcapitalism’ on the horizon?

    Together with many left economists, Mason envisages a dismal future of secular stagnation, ever more extreme income inequality, massive job losses due to technological change, unsustainably high levels of public and private debt, and chronic global trade imbalances. He argues that capitalism faces an acute impasse due to catastrophic climate change and pending massive defaults on debt.

  • A Tale of Two Economies

    While the overall unemployment rate in Canada is low and the media paint a reassuring picture of broad-based prosperity, the reality is that disturbing new divisions of sector and region are being overlaid upon already deepening class differences. The past 25 years saw remarkably little progress for most Canadian workers. While real (inflation-adjusted) GDP per person has risen by about 50 per cent since the early 1980s, driven mainly by increased productivity, workers’ hourly wages have been remarkably stagnant.

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