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  1. Modern Monetary Theory, Part 4: MMT and quantitative easing

    Participants on both sides of the Modern Monetary Theory (MMT) debate acknowledge that there’s no “free lunch” when a country’s central bank buys government debt directly and charges no interest on the debt. As explained in previous blog ...

  2. Artificial intelligence joins humans in fight against COVID-19

    Appeared in Edmonton Sun, May 27, 2020 As the COVID crisis continues, Albertans and all Canadians would surely welcome some good news among the bleak headlines. So consider this—we’ve learned a lot over the past few months about the remarkable ability of ...

  3. U.S. COVID experience highlights risks of centralized management of health care

    While it will take a long time to assess and learn lessons from the COVID pandemic crisis, the U.S. experience will be worthy of particular study. As of May 1, the United States accounted for about one-third of the world’s confirmed ...

  4. Deregulation now—and in the post-COVID world

    Appeared in the Globe and Mail, April 24, 2020 Hopefully, the worst of the COVID-19 pandemic will soon be behind us. Economists are debating the likely speed and vigour of a post-COVID economic recovery, but it seems fair to conclude that government ...

  5. Canada does not need a modern ‘Marshall Plan’ after COVID

    In the coming months, the federal government will receive numerous suggestions for how to kickstart the economy after the COVID crisis passes. One such suggestion from Jim Stanford, former chief economist for the Canadian Auto Workers ...

  6. Modern Monetary Theory, Part 3: MMT and inflation

    A basic premise of Modern Monetary Theory (MMT) is that a country that enjoys sovereign control over its money supply is effectively unconstrained by capital markets in the amount of borrowing the government can do to finance public ...

  7. Alberta should fund AER through general tax revenue

    Due to COVD-19 and the massive decline in economic activity worldwide, global oil demand has dropped dramatically. According to Russell Hardy, CEO of Vitol Group (the world’s largest independent oil trader), global crude demand will be ...

  8. Modern Monetary Theory, Part 2: Will MMT hold down taxes?

    As government expenditures associated with the COVID-19 crisis continue to mount, and as government tax revenues decline along with economic activity, so does the government’s fiscal deficit increase. Less well-recognized, however, is ...

  9. Modern Monetary Theory, Part 1: What is it and why is it gaining currency in these volatile times?

    Providing income support to workers and businesses involves large increases in government expenditures. ...

  10. Kenney government should reform Alberta energy regulations

    Appeared in Calgary's Business, March 17, 2020 Before the COVID-19 crisis took centre stage, the Kenney government announced cuts to scores of jobs at the Alberta Energy Regulator (AER) including operations staff, headquarter managers and field ...