bill scarth

Fiscal austerity and lost Canadian jobs

Bill Scarth is a highly respected mainstream Canadian economist at McMaster University. In a piece just published by the C.D. Howe Institute, a generally conservative think-tank, he argues that the pace of federal deficit reduction should be slowed in order to lower unemployment.

His key point is that the economy still has a lot of slack which will not be quickly closed just by maintaining interest rates at their currently very low levels. 

Based on quite conservative assumptions, Scarth estimates that...

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