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Bank of Canada hikes key interest rate to 0.5%The Bank of Canada raised its benchmark interest rate to 0.5 per cent on Wednesday, a move that's expected to be the first of a series of small rate hikes this year in an attempt to tame inflation that has risen to its highest point in decades.
Canadian-born David Card among 3 winners of Nobel in economicsA Canadian is among the three U.S.-based economists awarded the 2021 Nobel Memorial Prize for pioneering research on the labour market impacts of minimum wage, immigration and education, and for creating the scientific framework to allow conclusions to be
Warren Buffett and the myth of the ‘Good Billionaire’There is no way to be a billionaire in America without taking advantage of a system predicated on cruelty, a system whose tax code and labor laws and regulatory apparatus prioritize your needs above most peoples.
Central bankers play down soaring cost of livingOfficials insist inflation won't last, and on Wednesday the U.S. Federal Reserve Board's Jerome Powell hinted he'll join the Bank of Canada's Tiff Macklem in cutting back on stimulus. But unless wages catch up, rising prices continue to make most of us po
Corporate head office job losses a 'wake-up call' for CalgaryBetween 2014 and 2019, Calgary saw the departure of nine head offices and 3,600 head office jobs, according to Statistics Canada. The number of head office jobs in Alberta fell by almost 5,500 positions while it rose by almost 2,800 positions in the rest
New study: A zero-emissions US is now pretty cheapIn many areas of the United States, installing a wind or solar farm is now cheaper than simply buying fuel for an existing fossil fuel-based generator. And that's dramatically changing the electricity market in the US and requiring a lot of people to upda
How philanthropy benefits the super-richA lot goes to the arts, sports teams and other cultural pursuits, and half goes to education and healthcare. At first glance that seems to fit the popular profile of “giving to good causes”. But dig down a little.
Still considered by many a fringe view of economics, MMT as it is popularly known suddenly seems to be moving into the mainstream as governments borrow and spend.
Fiscal austerity and the rise of the NazisIn our recent work, we show how fiscal austerity contributed to Nazi electoral success in the early 1930s (Galofré-Vilà et al. 2020). Localities that experienced larger declines in spending and higher rises in taxes had higher vote shares for the Nazi Par
U.S. natural gas giant Chesapeake Energy goes bankruptBankrupt U.S. shale pioneer Chesapeake Energy on Monday laid out its long-term plans and detailed dramatically reduced drilling through the end of the year, with half the rigs as it had to start 2020. Chesapeake on Sunday became the largest U.S. oil and g
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