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Jacques René Giguère
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In the long run, price level is irrelevant so MoA is of no real import. MoE is important for recessions. That's important. As the saying goes "That's not a knife. THAT's a knife!" https://www.youtube.com/results?search_query=that%27s+a+knife+-+crocodile+dundee
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Nick:"If the Bank of Canada gave its profits to the provinces instead, the provinces could cut tax rates a little". Equalization payments come from general revenue so we may say that seignoriage pays for equalization. We could specifically dedicate the seignoriage to pay equalization. It would please creditists if we called it "social dividend." It may have some media-political (mediamacro?) implications but would not change anything in the real universe. But we're already doing it. Mere musings from a humble IO guy...
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anon: "putting a bond forfeited if she is fired" Essentially the british army system of buying a commission. Worked si well at Balaclava...
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Stuff nobody in his right mind would eat? You mean I shouldn't have had those delightful lamb animelles (or gosses d'agneau) (lamb testicles fried in light batter) for last Thursday? http://lessalesgosses.ca/
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Essentially Bismarck asked: "How many years of pensions for renouncing revolution?" Working class Germans thanked them by their loyalty to II and III Reich. Marx was wrong on that. Proles do not unite if you pay them to be divided...
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Nick: 65 is an historical accident. Political negotiations in Germany in the late 19th century.
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Adjustments? Of course. But they are easier at full employment. The irony is that a lot of people bemoaning the generationnal imbalance and offering late-taking of pension as remedy are also austerians. They are against full employment. Some are bright enough to understand the value of a zero shadow price (or as marxist call it the reserve army of the unemployed). Most are plain dumb and clueless. I realize now that my wish to become a fighter pilot in the RCN (it had an aircraft carrier at the time, showing the source of my age-induced wisdom), denied by my better was only a sign that I shoud wait till I am expendable. Where is my carrier?
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Wouldn't be a problem if macro policies were expansionnist enough to accomodate larger labor force.
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Whatever the law says, a pension is deferred (saved) compensation. Any law partner can work a full time week, if there is work, and withdraw his savings, the way one withdraw his pension. traveling to Australia and going to better hotels is a way of spending your extra money without spending extra time.
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KG: week-end assignment: compare the speed of advance of Bavarians Gebirsjägers vs Pomeranians Grenadiers. Don't forget to denounce the Pope as the AntiChrist and my day will be complete...
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Whitfit: "there is no situation where you can semi retire and still get your full salary.". A doctor or a lawyer with no pension plan set aside his RRSP or TFSA. Then decide he want to work but not let his funds go to ingrate children. Draws down his kitty and vacation in Australia instead of Tampa, blowing his money on airfare. As an aside: every Chamber of Commerce wails about the retirement crisis and the QC gov't has just retroactively began to cut pensions...supposedly because of "intergenerationnal equity." The solution is of course to keep older people working. But the austerians don't want any measure to grow the economy as to employ the surplus labor thus created (inter equity blabla don't want debt to finance stimulus Chamberof Sun newspaper blabla).
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"The parts of Canada...": happy to learn the Vandoos were Anglicans...
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One problem with Hanson was that his post should have been in a philosophy or ethics exam. My colleagues here agree that it would have been a maybe controversila but excellent question for this term finals in"Ethics and society." But it did not belong inan economics blog...
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Discussing the 1% in Canada is like discussing it in Montana. It should take North America as a whole, not some uninteresting norther satrapy. There is no inequality among the village peasants. Only if you include the castle in Wall Street.
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Male and female fields? Certainly. Unlike physics where there are no male protons and female electrons. Two of my sisters-in-law were in the same health science field as my brothers. Both extremely good, in as much I can judge (their tenure commitee did it for me, dear olds). In fact, by her undergrad days,in the 70's, one of them was judged 4th best in her field by her North american professional association (my brother was 3rd). In my physics day, women were scarcer than men. But I never heard any professors or students voice derogatory comments and no female colleagues ever said anything. Physics is of course,ubernerd territory (Sheldon Cooper, our hero...) and maybe we can't see gender much. We had female professors, highly respected by students and seemingly so by their colleagues.
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I also remember the not-that-faraway era when reading the Economist was required of my students. The horror! The horror!
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A paragon of financial virtue? If you mean underpaying your staff so you can't recruit...Been doing overtime for years on row.(not for the money, just so that students can graduate...)
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Low end Chile? Whatever my family would say, Chile is indeed a brutal society. But their wine is geting better all the time and money is money. They are progressing industrially, not as fast as they should (they are South American after all) but it's not as bad as it was.
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Whatever the critics about its view of the U.S, banking system , that paper http://www.ledevoir.com/documents/pdf/political_foundations.pdf by Calomiris has interesting to say about Canada.
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"Monetary and fiscal policy don't have the same units. We measure one in $, and the other in $ per year." QE may be in X$ this year and 0$ next year if it's your policy. But it is in $/year. Dimensionnal analysis( whixh I teach to my students, help wonders with structuring their homeworks) must lead to consistency in your units ( my physicist side). "Call me when the central bank runs out of things to buy." Why wait? I asked my students this morning what they would do with helicipter money. Unanimous answer"Save it" What if they were hired to dig ditches of unknown utility? "Spend it, it's regular income."
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As a canadian I don't know enough about the U.S. banking system. But their review of the history of the Canadian one is good. (Minor quibble about the intricacies of naming senators). Could have used more about the parallel banking systems set up by the provinces (trust companies, Ontario mortgage companies, Alberta Treasury branch and especially the Québec Caisses Populaires sytem)
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Eisenhower decide to use only male military test pilpots because "The public is not ready to see women die". Which it was thirty years later.
Toggle Commented Nov 3, 2014 on The capitalism question at Stumbling and Mumbling
Collaborators? The ones who lost more than 100K KIA in the 6 weeks of the Battle of France after Churchill ordered the British Army to break the front on May 13th thus letting the Germans break through? Or the British police in the Channel Islands who delivered political refugees to the Germans after Churchill ordered that there would be no act of resistance in the German-occupied British territory?
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Determinant: and the invention of Social Security account Number so that people would think of their future payment as a bank account in their own name. Designed by Roosevelt so that nobody could ever cancel the program.
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As the manual working class began to isappear to be replaced by an "intellectual" middle-class, the Left parties beagn to abandon the unwashed mases as not thinking enough. The cure for their "simplemindedness" was to force them to confront their "ignorance" bycalling them racist and forcing them to accept the "Other" as the fount of everything that is righ and themselves as the source of all evil. That the Other (the immigrants) disagree with thos point of viwe is not an hindrance to the bobo thesis. In my neck of Canada, my muslim colleagues and family are totally againt burka wearing, which is promoted by the media to their frightened dismay.
Toggle Commented Oct 11, 2014 on The Ukip question at Stumbling and Mumbling