Associate Professor, School of Political Studies, and Coordinator, International Political Economy Network
When confronted by the very difficult decisions created by the second wave of the COVID-19 pandemic, our political leaders have been seduced time and time again into a dangerous kind of wishful thinking. Instead of acting decisively to save lives, …READ MORE
How do we effectively make and execute policy when there is so much that we simply do not know about what lies ahead? This is the challenge that policymakers face today on two very different fronts: public health and the …READ MORE
Like central banks around the world, the Bank of Canada has cut its target interest rate in order to tackle the economic effects of the novel coronavirus.
Does that mean that central bankers are once again our knights in shining …READ MORE
Exceptionalism is usually used to describe how liberal democracies handle major security threats. However, governments also use exceptionalist policies to deal with economic crises. This development is troubling for both economic and political reasons.
What do Boris Johnson’s attempt to …READ MORE
Ignorance is not the antithesis to knowledge, but it is part of it. Wishful thinking, muddling through and other forms of ignorance play a crucial role in shaping economic policy and its effects on society.
We hear a lot about …READ MORE
Economic policies enacted under neoliberalism have often failed to meet their objectives, but have remained unchallenged. …READ MORE
Ten years ago, on 3 October 2008, President George W. Bush signed the “Troubled Assets Relief Program” (TARP), promising $700 billion to support banks and companies hit by the global financial crisis. As Congress passed this historic bill, it seemed …READ MORE
Ten years ago, as the global economy slipped ever closer to a total meltdown, regulators were slow to recognize the severity of the problem because they were looking in the wrong direction.
Transcripts from the US Federal Reserve’s policymaking committee …READ MORE
When Canadians woke up to learn that they were the proud owners of a run-down pipeline, many of them no doubt asked themselves, “Can the government just do that?” After all, nationalization hasn’t been a popular government pastime in Canada …READ MORE
There’s a popular adage that we should never let a good crisis go to waste. Yet, arguably, that’s what we’ve been doing for decades now. We’ve avoided facing the genuine political challenges that economic crises present us and lost these …READ MORE
As financial markets have been showing their panicky side in the last few weeks, we’ve been hearing various accounts of what’s driving the volatility. One of the key narratives goes something like this: 1) wages are moving up in the …READ MORE
The current battle over the liberal world order seems to be about trade, climate, and security policy. But monetary policy has also become an increasingly important arena of conflict. Populist leaders seem to love nothing more than denouncing central bankers …READ MORE
As global inequality grows to “extreme levels” — as revealed in the just-released World Inequality Report — it is hard not to wonder what it bodes for the health of liberal democracy — around the world and here in Canada.…READ MORE
As Donald Trump makes it clear that he is intent on pursuing his rash and racist agenda come what may, we might be tempted to stand back, count our blessings, and try to minimize the damage.
We need to be …READ MORE
As pundits debate whether the US Federal Reserve will raise interest rates again this summer or fall, we are reminded of just how much of the economy’s direction hinges on central bankers’ decisions.
Since the 2008 financial crisis, the power …READ MORE
When the Governor of the Bank of Canada, Stephen Poloz, insisted in New York this week, “the idea that monetary policy just isn’t working any more [is] one myth I’d like to dispel right off the top,” he was right …READ MORE
By Jacqueline Best
After a decade under a Conservative leadership that actively undermined the government’s capacity to conduct research, Canadians have elected a government that has promised to base its policies on evidence.
Yet, if the new Liberal government wants …READ MORE
Published in the Hill Times, May 25, 2015
As Canadians, we pride ourselves on how well our financial regulations coped with the 2008 financial crisis. Given this attitude, it’s not surprising that Canadian policymakers have avoided a major overhaul …READ MORE
When things go wrong in politics, the word ‘failure’ gets bandied around a lot. In recent weeks, we’ve heard about the failure of Canadian drug policy (as admitted by Stephen Harper), the failure of Canadian diplomatic efforts to get Barack …READ MORE
If you have been reading the financial press over the past week, you know that the global economy’s chances are looking a lot more uncertain these days. What you may not know, however, is that this more recent upswing in …READ MORE
An earlier version of this essay appeared on RegBlog.org
Nobody likes to admit failure—least of all government-funded development organizations in hard economic times. Yet recent years have seen a number of prominent development agencies confess to failure. The International Monetary …READ MORE
In sharp contrast to neo-liberal ‘hands off’ attitudes that shaped its past policies, the Harper government is considering a much greater public role in the economy, strategically targeting certain key sectors. Meanwhile, in response to growing concerns about the …READ MORE
As the prognosis for the global economy gets darker by the day, we are hearing one word over and over: austerity. The British government has announced that it will extend its austerity measures past the next election in 2015. In …READ MORE
In the aftermath of 9/11, we entered a moment of political exceptionalism: we were told that in normal times, certain basic civil rights applied, but these were exceptional times and the normal rules didn’t apply. Suddenly, practices like torture, detention …READ MORE