Additional Readings

Lecture 1 – The market system and the public sector

· On productivity, the ‘invisible hand’ lacks visible success (click)

· State capitalism vs. free market: Which performs better? (click)

· The moral limits of markets (click)

· Half a century of progressive economics on the hoof (click)

· Ethics and agriculture (click)

· Growth versus redistribution (click)

· The Sen-Bhagwati “debate” on economic policy in India (click)

· Did capitalism fail? (click)

· Bumps in the road for electric cars (click)

· The rich country trap (click)

· The rationality debate (click)

· In praise of foxy scholars (click)

· Reforming China’s state-market balance (click)

· Rudi Dornbusch and the salvation of international macroeconomics (click)

· Phosphorous and freedoms – The Libertarian fantasy (click)

· New bank, new paradigm (click)

· Let’s nationalize more companies, starting with Bell and Rogers (click)

· Nationalizing telecom industry wouldn’t work. Just look at Canada Post (click)

· The looming death of Homo Economicus (click)

· Nobel prize winner: Bubbles don’t exist (click)

· The creative state (click)

· What’s wrong with finance (click)

· Inspiring economic growth (click)

· Why value investors have the edge in the short term (click)

· Economists vs. Economics (click)

· Jeremy Corbyn’s necessary agenda (click)

· Nobel laureate is attaching age-old economics rule (click)

· Celebrating the irrational (click)

· The closed marketplace of economic ideas (click)

· Time for taxpayers to get a bigger share of the wealth (click)

· The false promise of cost-benefit analysis (click)

· A new course for economic liberalism (click)

· A “macroeconomic” revolution? (click)

· Economics with a humanities face (click)

· The case against free-market capitalism (click)

· Richard Thaler’s work demonstrates why economics is hard (click)

· China vs. the Washington Consensus (click)

· The limits of carbon pricing (click)

· Are universities’ economics departments getting left behind? (click)

· Why there is no “Beijing consensus” (click)

Lecture 2 – The theory of money

· Bank of England endorses Post-Keynesian endogenous money theory (click)

· The broad money supply is ALWAYS endogenous (click)

· How money is made (click)

· An unconventional truth (click)

· Why the Fed buried monetarism (click)

· The trouble with financial bubbles (click)

· Uncertainty over future interest rates should shape policy today (click)

· Measuring the natural rate of interest redux (click)

· The trouble with interest rates (click)

· Western mistakes, remade in China (click)

· The promise of fiscal money (click)

Lecture 3 – The determinants of consumption and saving

· Are Canadians mistaking home equity with wealth? (click)

· Consumer confidence slips for second straight month (click)

· The rising costs of US income inequality (click)

· Five reasons for slow growth (click)

· Anxiety and interest rates: How uncertainty is weighing on us (click)

· Japan’s recovery is complicated by a decline in household savings (click)

· A third of Canadians won’t take advantage of new TFSA limits (click)

· The bias against savings (click)

· Japan to raise minimum wage by 3% to boost consumption (click)

· China’s macro disconnect (click)

· The trouble with interest rates (click)

· Increased pension contributions only partly offset by lower RRSP savings (click)

Lecture 4 – The determinants of investment

· Free up ‘dead money,’ Carney exhorts corporate Canada (click)

· ‘Dead’ cash to blame for Ontario’s stagnant growth (click)

· Dead money (click)

· Companies hit back at Bank of Canada Governor Carney (click)

· Carney pushes tax incentives to boost spending (click)

· Profit-loving markets may be in for a rude awakening (click)

· Why value investors have the edge in the short term (click)

· Automation, productivity, and growth (click)

· Fallacies of immaculate causation (click)

· U.S. central bankers eye public spending to plug $1-trillion investment gap (click)

· We stopped Pfizer’s tax dodge, now let’s end the buybacks (click)

· Fixing fixed-investment incentives (click)

· Labour is right – Karl Marx has a lot to teach today’s politicians (click)

· Big pharma spends on share buybacks, but R&D? Not so much (click)

· How “shareholder value” is killing innovation (click)

· Why economic recovery requires rethinking capitalism (click)

· More public spending, not tax cuts, for sustainable, inclusive growth (click)

· Growth without industrialization? (click)

· Dutch aggression (click)

· What Trump’s tax cut really means for the US economy (click)

· Rational irrational exuberance? (click)

· Stock buybacks hurt workers and the economy (click)

Lecture 5 – Is trade liberalization good or bad for the economy?

· Did this historic trade deal help Canada? No (click)

· The specialization myth (click)

· Free trade and costly love (click)

· Robots and robber barons (click)

· GM Oshawa job cuts show real economy hurting under Stephen Harper (click)

· The lure of China — yet Canada hesitates on free trade (click)

· The free-trade charade (click)

· How beer explains 20 years of NAFTA’s devastating effects on Mexico (click)

· Twenty years since NAFTA (click)

· US opposition to ambitious Indian program a ‘direct attack of on the right to food’ (click)

· The trade delusion (click)

· Exporting financial instability (click)

· The Trans-Pacific globalization pact Ottawa doesn’t want to talk about (click)

· New and improved trade agreements? (click)

· The secret corporate takeover (click)

· Trade and trust (click)

· The muddle case for trade agreements (click)

· Obama urges Democrats to back him on trade bills (click)

· Calling a halt to the pseudo “trade deals” (click)

· Safeguarding financial stability in the TPP (click)

· Smooth transition needed for carbon pricing and free trade (click)

· The Trans-Pacific free-trade charade (click)

· TTP is about many things, but free trade? Not so much (click)

· Editorial: Read the entire TPP text? No way. That’s Parliament’s job (click)

· The new geo-economics (click)

· The Trans-Pacific shell game (click)

· For Canadian innovators, will TPP mean protection – or colonialism? (click)

· Trade and tribulation (click)

· Globalization and its new discontent (click)

· Free trade’s diminishing returns (click)

· What if trade agreements are doing us more harm than good? (click)

· It’s time trade-tycoons address the dark reality of globalization (click)

· The third wave (click)

· Changing determinants of global income inequality (click)

· Donald Trump shows globalization can be challenged (click)

· Don’t cry over dead trade agreements (click)

· Trump claims victory as Ford shelves plans for Mexican plant (click)

· U.S. comes first, Trump official says about Canadian auto industry (click)

· Mexicans are the Nafta winners? It’s news to them (click)

· America’s dangerous neo-protectionism (click)

· Adapting to the new globalization (click)

· Trade error: Globalization versus internationalization (click)

· The end of globalization? (click)

· Too late to compensate free trade’s losers (click)

· In the age of Trump, it’s time to change the global trade game (click)

· Canada-China trade agreement no deal for middle class, blue collar Canadians (click)

· What will Trump deliver on trade? (click)

· Think tank leads corporate-funded campaign to sway Canadians on Chinese trade (click)

· How the OECD wants to make globalisation work for all (click)

· Fighting populism and protectionism with workers’ rights (click)

· What would happen if the U.S. withdrew from Nafta (click)

· No more NAFTA: How Canada could thrive without the trade pact (click)

· Intellectual property for the twenty-first-century economy (click)

· Why the trade deficit matters, and what Trump can do about it (click)

· Resurrecting creditor adjustment (click)

· Editorial: The breakdown of Canada-China talks is a blessing in disguise (click)

· The globalization of our discontent (click)

· The trouble with Canada’s ‘progressive’ trade strategy (click)

· Why “free trade” agreements serve corporations first (click)

· Has global trade liberalization left Canadians behind? (click)

· Seeing off extreme right populism with ‘progressive protectionism’ (click)

· Do trade restrictions work? Lessons from trade with Japan in the 1980s (click)

Lecture 6 – Should financial flows be regulated?

· IMF accepts temporary capital controls (click)

· The IMF’s half step (click)

· The Federal Reserve and the currency war (click)

· Is a currency war brewing? (click)

· China’s Yi warns on currency wars as yuan in ‘equilibrium’ (click)

· The temptation of China’s capital account (click)

· Is global finance really shrinking? (click)

· Three new lessons of the euro crisis (click)

· Financial globalization in reverse? (click)

· The blurry frontiers of economic policy (click)

· Death by finance (click)

· In praise of fragmentation (click)

· Turkey’s hot-money problem (click)

· Self-insurance or self-destruction? (click)

· Three expensive milliseconds (click)

· China’s financial floodgates (click)

· Exporting financial instability (click)

· Global capital heads for the frontier (click)

· Will Fed tightening choke emerging markets? (click)

· Safeguarding financial stability in the TPP (click)

· How countries can avoid the financial resource curse (click)

· Dilemma not trilemma (click)

· The world’s reluctant central bank (click)

· Loonie breaks from oil as bears shift focus to economic woes (click)

· Japan vs. the currency speculators (click)

· With U.S. bond yields set to rise, prepare for loonie fall (click)

· China, seeking to stop weakening of currency, issues restrictions (click)

· President Trump’s necessary German lessons (click)

· Capital keeps flowing into Latin America (click)

· The deficit tango (click)

· How China is managing capital flows – and why (click)

· How China won the battle of the yuan (click)

· The globalization backlash paradox (click)

Lecture 7 – Should countries float, fix or dollarized?

· Why the “end of cheap China” might be good (click)

· Renminbi rising (click)

· A new low for China bashing (click)

· China’s rebalancing act (click)

· ‘Lead or leave euro’, Soros tells Germany (click)

· Exporters hit by loonie’s rapid rise (click)

· The cost of strong dollar and weak demand (click)

· US dollar: The slipping anchor (click)

· Wrong lessons from Latvia for the eurozone (click)

· The loonie is overvalued – and the Bank of Canada has room to act (click)

· The seductive myth of Canada’s overvalued dollar (click)

· Economist blames Marc Carney for high dollar, plant closure (click)

· Canada’s great economic divide (click)

· Other people’s dollars, and their place in global economics (click)

· Keynes comes to Canada (click)

· How countries can avoid the financial resource curse (click)

· Bank of Canada’s inflation targeting has evolved a commodity currency (click)

· The return of dollar shortage (click)

· Australia mourns the end of its car manufacturing industry (click)

· The elusive benefits of flexible exchange rates (click)

Lecture 8 – Is government spending a source of stability or instability?

· Saying no to the conjurers’ trick of tax cuts (click)

· Stop coddling the super-rich (click)

· A minimum tax for the wealthy (click)

· The austerity debacle (click)

· Federal Government can restore full employment (click)

· Hawks and hypocrites (click)

· Inside America’s tax battle (click)

· That terrible trillion (click)

· Putting the brakes on cutting the deficit (click)

· Fighting fiscal phantoms (click)

· Does debt matter? (click)

· This is a job for … the Bank of Canada (click)

· The dangers of fiscal austerity (click)

· East Asia’s lessons for Africa (click)

· Phoney fear factor (click)

· IMF admits: We fail to realize… (click)

· The story of our time (click)

· Austerity backlash (click)

· Has austerity failed in Europe (click)

· Did capitalism fail? (click)

· Canada’s dangerously distorted tax conversation (click)

· IMF backs counter-cyclical fiscal activism in times of crisis (click)

· Raising the minimum wage (click)

· Four fallacies of the second Great Depression (click)

· Creating a learning society (click)

· Deficit slaying: It’s all about timing (click)

· An unconventional truth (click)

· An interview with Servaas Storm (click)

· The unbalanced thinking behind a balance budget law (click)

· Joseph Stiglitz: ‘Current monetary policy is not going to work’ (click)

· Albertans will be forced to face debt with David Dodge (click)

· The M.I.T. gang (click)

· Canada needs to re-evaluate its approach to economic stimulus (click)

· Jeremy Corbyn’s necessary agenda (click)

· Keynes comes to Canada (click)

· Time for helicopter money? (click)

· Time to borrow (click)

· The case for more government and higher taxes (click)

· What is the Keynesian multiplier? (click)

· Why this economist thinks government intervention is a good thing? (click)

· The return of industrial policy (click)

· Getting fiscal stimulus and central bank independence in sync (click)

· The missing ingredients of growth (click)

· How economics survived the economic crisis (click)

· America’s weak case against China (click)

Lecture 9 – Should central banks be targeting inflation?

· Beyond inflation targets (click)

· Hyperinflation: The worst investment call of the past five years (click)

· How Alberta’s supercharged economy defies the laws of price inflation (click)

· Inflation targets don’t make for gripping debate (click)

· IMF tells bankers to rethink inflation (click)

· The failure of inflation targeting (click)

· Time for a 1% inflation target (click)

· Time for nominal growth targets (click)

· Should central banks target employment? (click)

· Fed ties rates to joblessness (click)

· Federal Reserve intensifies effort to improve labour market (click)

· Monetary regime transition in the emerging world (click)

· The death of inflation targeting (click)

· Carney goes on the road to defend forward guidance (click)

· Is the Bank of Canada 2-per-cent inflation target too low? (click)

· This is a job for … the Bank of Canada (click)

· Oligarchs and money (click)

· Central Bankers’ New Gospel: Spur jobs, wages and inflation (click)

· Of Kiwis and currencies: How a 2% inflation target became global economic gospel (click)

· The price paradox (click)

· Monetary policy will never be the same (click)

· Central banks should move beyond inflation targets (click)

· Remember when: What have we learned from the 1980s and that 21% interest rate? (click)

· Bank of Canada moves toward new era of inflation (click)

· Rethinking inflation targeting (click)

· Why the Fed buried monetarism (click)

· The trouble with financial bubbles (click)

· The wrong war for central banking (click)

· Is the economy overheating? Here’s why it’s so hard to say (click)

· Bank of Canada’s inflation targeting has evolved a commodity currency (click)

· Finance Minister should reconsider inflation targeting (click)

· What causes financial crises? (click)

· Monetary policy in a post-crisis world: Beyond the Taylor rule (click)

· No good alternative to Bank of Canada’s inflation target (click)

· What does an inflation-fighting central bank do when there is no inflation? (click)

· To manage expectations, central banks need social media savvy (click)

· Central Banks in the dock (click)

· The Bank of Canada needs to rethink its inflation strategy (click)

· Misery loves inflation targeters’ company (click)

· Why low inflation is no surprise (click)

Lecture 10 – Should central banks be independent?

· Brazil’s ‘independent’ Central Bank (click)

· Answer to the people, not greedy elites (click)

· Time to admit it: Independent central banks have been a failure (click)

· Should central banks be politically independent? (click)

· Should the Bank of England remain independent? (click)

· Bernanke: Central banks must be independent (click)

· Central banks’ outdated independence (click)

· Whose central bank? (click)

· The rich country trap (click)

· Stiglitz slams ‘unconscionable’ central bank independence (click)

· Fighting the Fed (click)

· The Fed under fire (click)

· Bank of Canada governor defends surprise interest rate cut (click)

· Central banks filled with policy makers with little real-world experience (click)

· Joe Oliver should let the Bank of Canada speak for itself (click)

· The Fed’s communication breakdown (click)

· Fed’s Yellen urges rejection of rule-based monetary policy proposal (click)

· Fed’s 3 mandates: Price stability, jobs and … Wall Street? (click)

· BoE’s Carney pushes back against criticism from PM May (click)

· Taking monetary policy to the people (click)

· Central banks and the revenge of politics (click)

· Rethinking central bank independence (click)

· Getting fiscal stimulus and central bank independence in sync (click)

· Finding Phillips: Inflation has not yet followed lower unemployment in America (click)

· To manage expectations, central banks need social media savvy (click)

· Central Banks in the dock (click)

Lecture 11 – Why is there unemployment?

· Davos diary: A new sense of dread is settling over the world’s elite (click)

· Federal Government can restore full employment (click)

· The forgotten millions (click)

· Mismatch in job market a risk to economy (click)

· Minimum wage can do more good than bad (click)

· Why paying a living wage makes good business sense (click)

· Boosting minimum wage would also boost the economy (click)

· Welcome to Canada’s ‘wageless recovery’ (click)

· In Canada, jobs tell a tale of two economies (click)

· Comparing jobs in recessions and recoveries (click)

· The rise of the robots (click)

· The jobless trap (click)

· Temporary foreign worker program lowers wages (click)

· The economics of a higher wage floor (click)

· Unemployment: Forced or voluntary? (click)

· Canada’s job recovery may not be the envy of the world (click)

· Youth underemployment, not unemployment, is the bigger problem (click)

· The mutilated economy (click)

· Better pay now (click)

· Minimum wage debates ignores key issue: Poverty (click)

· Stagnation by design (click)

· Before blaming the robots (click)

· Taxes pay for robots, but robots don’t pay taxes (click)

· Those lazy jobless (click)

· How the jobless rate underestimates the economy’s problems (click)

· Canada needs an action plan to fight long-term youth unemployment (click)

· Why raise the minimum wage? Just ask Cotsco (click)

· Living wage in St. Thomas-Elgin is $16.47 an hour (click)

· A $15 minimum wage bombshell in Los Angeles (click)

· Eleven propositions for a better EI regime (click)

· Liberals and wages (click)

· Immigration policy should foster new Canadians, not temporary workers (click)

· Food sector struggling against temporary foreign worker reforms (click)

· Automation, productivity, and growth (click)

· Minimum wage increases reignite livable income debate (click)

· The minimum wage: How much is too much? (click)

· Stiglitz’s sticky prices (click)

· Redistribution through a basic income (click)

· Federal Reserve bankers mocked unemployed Americans behind closed doors (click)

· What if sociologists had as much influence as economists? (click)

· Evidence that robots are winning the race for American jobs (click)

· The wages of wage fear (click)

· Ontario plans big boost to minimum wage, update of labour laws (click)

· A $15 minimum wage in Ontario: A game changer (click)

· The Seattle minimum wage study is utter B.S. (click)

· Is productivity growth becoming irrelevant? (click)

· Why won’t wages in Europe rise as they should? (click)

· The Phillips curve is broken (click)

· The natural rate of unemployment (click)

· Minimum wage hike will cost 110,000 jobs in Ontario, Alberta (click)

· The vicious circle of inequality (click)

· The complete – and uglier – picture of Canada’s job market (click)

· ‘Reserve army’ of precariously employed keeps lid on wages (click)

· Inconvenient truths about migration (click)

· Hold on – the Canadian labour market has not fully recovered yet (click)

· Automation and American leadership (click)

· Codetermination enters the American political debate (click)

Lecture 12 – Should full employment be a policy objective?

· The human disaster of unemployment (click)

· Should central banks target employment? (click)

· Fed ties rates to joblessness (click)

· Federal Reserve intensifies effort to improve labour market (click)

· Federal Government can restore full employment (click)

· Austerity and demoralization (click)

· The disruptive dozen (click)

· Unemployment: Forced or voluntary? (click)

· The mutilated economy (click)

· Shale gas to the rescue? (click)

· Japan’s coming “wage surprise” (click)

· Minimum wage debates ignores key issue: Poverty (click)

· Taxing the rich is good for the economy, IMF says (click)

· A $15 minimum wage bombshell in Los Angeles (click)

· Time to consider a guaranteed minimum income (click)

· Immigration policy should foster new Canadians, not temporary workers (click)

· Food sector struggling against temporary foreign worker reforms (click)

· The minimum wage: How much is too much? (click)

· Done right, infrastructure boosts our economy and society (click)

· A state-guaranteed basic income for all is becoming a necessity (click)

· No guarantees: A Finnish income plan and a Canadian lesson (click)

· Canada’s less-educated youth need job opportunities, too (click)

· Editorial – The guaranteed annual income (click)

· Guaranteed annual income is a second-best solution to inequality (click)

· Putting people first in Europe (click)

· Why we’re giving our employees a raise (click)

· Canadians with disabilities need real work, real pay, real leadership (click)

· Alberta makes $15 minimum wage regulations official (click)

· Six-hour workday boosts productivity, worker satisfaction (click)

· Older Canadians are leading the part-time job shift (click)

· The pie-in-the-sky UBI (click)

· How to beat the robots (click)

· Delivering on promises to the middle class (click)

· Supply-side economics, but for liberals (click)

· Ontario to roll out basic income in three cities (click)

· Basic income is an opiate for the masses, not a sustainable solution (click)

· Can basic income help workers adapt to new world of AI? (click)

· Ontario’s social experiment: Can basic income buy happiness? (click)

· No need for basic income (click)

· The true – and false – costs of inequality (click)

· Economic growth is no longer enough (click)

· Rethinking working time in Europe (click)

· The platform economy (click)

· Putting Europe’s long-term unemployed back to work (click)

· The future of work: Why wages aren’t keeping up (click)

· Hold on – the Canadian labour market has not fully recovered yet (click)

· Unions should be focused on upgrading skills of workers, not resisting automation (click)

· Time to share Germany’s economic prosperity (click)