economics

Microfinance: Small-scale Neoliberalism?

bsichel — Sun, 22 Jan 2012 20:33:55 +0000

Controversial guest speaker at Saint Mary's says small loans to entrepreneurs in the developing world do more harm than good

It’s been 36 years since Bangladeshi economist Muhammad Yunus started giving startup business loans to some of his country’s poorest would-be entrepreneurs.

Since then microfinance has become a darling of the international development community, credited with lifting thousands out of poverty and earning Yunus the Nobel Peace Prize in 2006.

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Calling BS on the Media: Chris Hedges Lays the Boots to CBC's Lang-O'Leary Exchange

Gwalgen Dent — Mon, 10 Oct 2011 17:00:28 +0000

Pulitzer-prize winning journalist, author and war correspondent, Chris Hedges takes on CBC's Lang amd O'Leary exchange. O'Leary, is a regular on CBC's entrepenurial show Dragon's Den.

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The Canadian Taxpayers Federation: A Myopic Watchdog?

bsichel — Fri, 13 Aug 2010 19:49:11 +0000

Anti-tax group setting up in Atlantic Canada; critics says it's all rhetoric

A self-described “taxpayer watchdog” group with offices across Canada is poised to open an office in Halifax this fall, according to recent media reports. But critics say the organization is little more than a right-wing media mouthpiece.

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New Red Scare: deficits and debt

Bruce Wark — Fri, 08 May 2009 14:20:56 +0000

Nova Scotia's Alternative Budget, Part II

Years ago, people feared the Red Menace --- that Reds or communists were coming to get them. Now, it's the fear of Red Ink --- that government deficits and debt will ruin us all. Dalhousie University economist Mathieu Dufour says that in the current provincial election campaign, the Conservatives, NDP and Liberals are all trying to fight the irrational fear of red ink by promising to balance the budget.

"All three of them believe that the way to win an election is to pander to the fear that has been created artificially," he says. "It doesn't really make any objective sense."

Dufour and the rest of the working group that drafted Nova Scotia's latest Alternative Budget argue it's more important to fight the recession by stimulating the economy, than it is to balance the provincial budget. Their Alternative Budget recommends spending nearly $436 million in the coming year improving social programs, alleviating poverty and funding such environmentally sustainable projects as rail line improvements and upgrades to the municipal transit system in Cape Breton.

Christine Saulnier who headed the Alternative Budget working group says it makes sense to fight the recession by putting money in the pockets of people who need it most and who will spend it immediately on goods and services. "We're looking at stimulating the economy," she says, "but we're doing it through social infrastructure, social programs and strengthening public services which is something we haven't been hearing much about."

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Taxing the rich, helping the poor

Bruce Wark — Thu, 07 May 2009 20:06:03 +0000

Nova Scotia's Alternative Budget, Part I

The Nova Scotia Alternative Budget advances a simple idea: The best way out of the current economic recession is increasing government spending to make everyone better off in the long run. The budget, released this week by the Canadian Centre for Policy Alternatives, advocates spending nearly $436 million in the coming year on a variety of social and environmental programs and projects --- everything from strengthening education and child care to upgrading rail lines. It also calls for big increases in welfare payments, abolition of tuition fees for community college students and a sharp reduction in university tuition fees.

"We believe this recession is giving us an opportunity to send the province on a different and fairer path," says Mathieu Dufour, the Dalhousie University economist who helped draft the Alternative Budget's spending priorities. He contrasts this budget with the one the Nova Scotia government brought down on Monday. "So, whereas the government is focused on repairing roads for example, we're more focused on having a greener economy and spending money on social programs."

Christine Saulnier, who chaired the Alternative Budget working group, says CCPA Nova Scotia has been publishing such budgets for the last nine years. They're designed to suggest other ways of looking at the provincial economy. This year participants tried to come up with an economic stimulus plan that would promote social and economic justice along with a healthier environment.

"When you look at the government's stimulus plan, you're looking at a billion dollars in highways," she says. "While there might be some need for improvements to highways and roads, we'd certainly like to see a better balance."

More help for the poor

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