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Jacques René Giguère
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Ontario and Québec manufacturing has been destroyed, not by NAFTA but by the Dutch disease from Alberta oil sands exports. Québec continued ,albeit at a lower rate, its convergence with Canada. Toronto is now an immigrant city (census show the native born leaving in drove).Building, like in Vancouver, is essentially chinese money laundering ( like NY and London are for the Russians).
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Nick: "But where do the rest of the original inhabitants go?" short answer on a busy afternoon: They stay in Ohio and vote Trump.
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Blogging can wait. Enjoy the happiness!
Toggle Commented Sep 3, 2017 on They Grow Up at Economist's View
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Nick: your model exclude savings. In the model money is an accounting trick or a veil. Its role as mediating transactions through time is not effective. The model is barter. Off topic: should have called. Would have shown you where to eat capayous (Casse-Croûte Capayou), the best shrimp pizza (Chez Julie) and lobster ravioli (La Cache d'Amélie). Book your next trip...
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Nick: "The only thing that ever makes any "contribution" to GDP growth is consumption. But consumption is 100% spent on imported goods, and so cannot create demand for domestic GDP, and the only thing that can create a demand-induced growth in GDP is exports (exports are also limited by supply-side productivity of apple trees)." Because by construction of your model, you assume that balance of payments (equivalent to current account by construction) is balanced. The model collapse to barter. So C must be identical (not equal) to M and identical to X.
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And imagine the effects of $ 3 billions of research and training...
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University of Wisconsin that the Republicans are trying to destroy? The future isn't bleak monly for Ohio...
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Was the 1919-1989 unpleasantness the right price to pay to have a Palatinate instead of Prussia?
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A fwe months ago while on a business trip,I searched for a good restaurant near my hotel. Arriving there, it looked familiar. Yep, I had been here the year before. I went through the menu and ordered what seemed the best choices. When the meal arrived, it too look familiar. The same dishes I had ordered the year before. Was I maximizing U as a rational customer as I told my students or acting out of habit after a first random choice?
Toggle Commented Aug 7, 2017 on Choice in economics at Stumbling and Mumbling
The whole point of the National Policy was to create a whole society up north. Otherwise, Manitoba is North North Dakota with all the prosperity and influence that ensues. In an integrated North American economy,apart from space stations for the mining and gas-oil extraction, the only locale that is relevant is Montréal as Chicago's northern harbor. The same as New Orleans which Chicago's southern shore. Just colder and less crime. And both french-speaking as my ancestors knew the value of location,location,location. As for inequality, the Canadian real high earners live in the US,both individually and as members of the biggest businesses. The "Big Five " (that is Anglo) banks divide a market smaller than Texas. And the next two (Nationale and Desjardins) share a market barely the size of Arizona. Would barely count as regional banks in the US (with commensurate compensations...) Inequality in the North Atlantic is not about ordinary proles (including professors at municipal universities, sorry McGill,I knew McGill, I worked with McGill but you're no Harvard...) earning less but about the real top stealing much more. And the stealing is done mostly in New York and San Francisco. The "CEO" of GM Canada is merely a foreman of the branch office without authority to blow its own nose or a young trainee for the show down south.
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You wanted an integrated North American economy. Then it means that Canada will be in the periphery (boondocks in human english) the way Nova Scotia is a a beautiful place for the 1% to buy a cottage on the sea. The consequence is you mistakenly believe Canada is a "more equal" society than the US. No: your true 1% percenters are in New York and San Francisco. We're just the loser on the rez.
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Jodl, Halder, Von Kleist,Guderian, Rommel,Von Bock, Von Brauchitsch, Von Kluge, all argued not to go to Dunkirk: exhausted troops, worn out equipment,fear of a counter-attack on an extended point....
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They are indeed next to useless. I know by experience. And a few years back, I submitted invoices for expensive but covered procedures. They refused by misclassifying them. A year later, I received a letter of apologies about the "mistake". The letter ended by "However, due to expired delays, it is not possible to pay your claims."
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A store gift certrificate is restricted form of MOE in its use but not in value. Points are a restricted use MOE but they have their own exchange rate. The C$ has gone down against the US$ but my vacations in the US will cost me the same in Aeroplan and Choice Hotels points. These currencies hold up their value. They're like Keynes Bancor. National currencies waltz around but they retain their purchasing power. They can be devalued but internally: now it takes Y K points instead of X K to go from FK to LAX.
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Scott: "raises...inflation". Are you talking inflation as a monetary phenomenon or real prices rises due to falling terms of trade? They're so not the same thing....
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Humble IO guy think that whoever decide the exchange rate is controlling money and therefore issuing it. Casting coins, printing bills and changing magnetic polarity on a hard drive is manufacturing hardware not monetary policy. And real central banks have no liabilities (they dontt intend to redeem anything into anything) and no assets (they don't want to have anything redeemed to them). Talking of CB balance sheet is an origin story. It's cosmogony, not economics.
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The people didn't have full control. But at least they had the feeling that they could boot out those held responsible and the responsible felt that they could be bootrd out. But now, with "independant" central banks whose only goal is to maintain the reserve pool of the unemployed, international institutions who only care about empowering large corporations, they are left with national government whose only mandate from above is to explain why and how they are supposed to be ripped off. Yes they want control back.
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Frances: as Québec humorist Yvon Deschamps once said "Moman travaille pas, a trop d'ouvrage" "Mom doesn't work. She's too busy" https://amecq.ca/2017/05/16/moman-travaille-pas/ (the link is not to his monologue but to a real article...)
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Best wishes to the beautiful bride, the lucky husband and the proud father!
Toggle Commented Jul 10, 2017 on Special Day at Economist's View
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For years in the 90's-00's salaries for QC colleges (wages? is salary the name for professionnal white collars wage slaves emoluments?) were stagnating and recruitment very difficult. So admin asked for the current staffs to teach extra courses. At subsequent negotiations, Treasury Board argued that profs didn't have a heavy enough schedule and should either get extra load or lower pay (since they could teach extra courses) and didn't need increases as they taught extra... Does that fit in?
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Too busy with important family matters to comment with profundity. But there were a lot a speculation (and maybe studies) on the role of Radio-Canada radio and tv services on the birth of Québec modern culture and the Quiet Revolution. And Maurice Duplessis was a master of communications,see http://www.septentrion.qc.ca/catalogue/duplessis-piece-manquante-d-une-legende Who knows what First Nations programming will lead to?
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Lucas and Sargent got a Nobel. Neither Baumol or Alchian. Twice the tears. Enuf said.
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The Éco-musée du Fier monde (to which I referd recently) will have a new exposition beginning MAy 18 on the theme Nourrir le quartier, nourrir la ville (feeding the borough, feeding the town) http://ecomusee.qc.ca/evenement/nourrir-le-quartier-nourrir-la-ville/
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Mussolini didn't make the train run on time. He was a bully and people believed him when he told them to believe. Under every incompetent dictature, the people always say:"Ah thing would work so well if only the Great One knew!"
Toggle Commented Apr 26, 2017 on The demand for bastards at Stumbling and Mumbling
Lactose intolerance and cheese. "White cheese fresh cheese, cottage, ricota, bocconcini are not cheese but dairy products. Cheese happens when lactose is consumed (it takes 3-4 days) and the stuff begins to hardens and then the second chain of the triglycerides saponifies. Chemically, it os still a fat. But the digestive system doesn't treat as fat. Hence the french-mediterranean paradox. Other causes as well.
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