Some 50 years ago, an Act of Parliament created a new permanent institution, the Economic Council of Canada. The general economic climate was considerably different back in 1963. Economics had become a high priority subject and economic policy seemed to work better if backed by economic research.
We then had the big econometric models and statistics that were providing reasonable forecasts, and economics per se was not regarded as particularly controversial.Read more
During the ordinary working of capitalism – absent the extraordinary Great Wars and Great Depression of the first half of the twentieth century – inequality, as manifested in the distribution of wealth, rose over time and promises to continue to do so.
Call that distressing result Piketty’s law.Read more
Canadian development economist Kari Polanyi Levitt has a reputation in Canada and abroad as an advocate for economic policies rooted in social justice and distributional equity. Levitt has worked tirelessly to build development studies as a multi-disciplinary field of scholarly endeavour, in which development economics plays an essential role but must be complemented by essential contributions from other social scientists and historians. Now in her ninety-first year, the Professor Emerita of Economics at McGill University has published a new book entitled From the Great Transformation to the Great Financialization: On Karl Polanyi and Other Essays