Quick Links

Reuven Brenner

France's national suicide

Thu, 2015-11-19 09:56

Over at Asia Times, I argue that France will do nothing in response to the Paris massacres but round up the usual suspects. 

Source Site: /desautels

Canadian elections: Why did inexperience triumph?

Fri, 2015-10-30 11:30

Article written by Professor Reuven Brenner

As in the United States, Canadians voted for “Hope and Change” on Oct. 19, 2015.

These are exactly the words Justin Trudeau, the 43-years old elected head of the Liberal party, repeatedly used in his victory speech in both English and French.  I could not avoid wondering if Mr. Trudeau’s team used the same public relations firm that Mr. Obama used in his first campaign, or if he just borrowed the slogans.  

Source Site: /desautels

How many immigrants can Europe accommodate?

Fri, 2015-09-25 18:13

Written by Reuven Brenner

Europe is now facing a prospect similar to what the US has been facing for decades: the march of millions upon its borders. But whereas the US got millions of immigrants fleeing Mexico for a better life, the potential millions moving on Europe come from failing states from around the world: Syria, Iraq, Afghanistan, Libya – and through the latter, from Nigeria, Eritrea and other.

Source Site: /desautels

Summers, Krugman, Bernanke – arcykapłani makrostrologii

Mon, 2015-09-21 10:43

This op-ed is written by Professor Reuven Brenner

Od kilku miesięcy Larry Summers powtarza tezę, że mamy do czynienia z „długotrwałą stagnacją”, przez co rozumie trwały spadek zagregowanego popytu na świecie, zwłaszcza w USA. Bernanke twierdzi, że niskie stopy procentowe to winna cyklu koniunkturalnego i czynników nadzwyczajnych, a nie Fed – co z kolei krytykuje Krugman.

Source Site: /desautels

Currency flows and flaws: Brenner

Wed, 2015-09-09 09:26

This op-ed is written by Reuven Brenner, the Repap Chair at McGill University’s Desautels faculty of Management. 

Much has been written on the “Dutch Disease” – how countries relying on their natural resources often fall on hard times, failing to develop. A Chinese observer, Laozi, in 81 BC had this to say: “A country is never as poor as when it seems filled with riches” (in Yan Tie Lun, A Discourse on Salt and Iron).  Only these days, the natural riches are oil (in Canada, Norway, Russia, Middle East) and in Australia, iron ore.

Source Site: /desautels

What the Chinese stock bust and US productivity decline have in common

Thu, 2015-08-27 12:46

Though it was recently announced that productivity in the US rose 1.3% from the previous quarter, Alan Greenspan is worried about the collapse in productivity: “I think it’s the most serious problem that confronts not only the United States but the world at large and more exactly the developed world especially. American productivity is not significantly different from zero growth in the last 6 or 8 quarters. 
... Reuven Brenner holds the Repap Chair at McGill University’s Desautels Faculty of Management. The article draws on his Force of Finance (2001).

Source Site: /desautels

Another view: The case for year-round Pell Grants

Mon, 2015-02-16 16:22

As Congress takes up reauthorization of the Higher Education Act this year, it will have to address several policy concerns, including the rising cost of college and the need to increase degree attainment rates in the U.S. Notwithstanding those concerns, college access will continue to be a major issue.

Source Site: /desautels

The Case for Year-Round Pell Grants

Fri, 2015-02-06 19:45


As congress takes up reauthorization of the Higher Education Act this year, it will have to address several policy concerns, including the rising cost of college and the need to increase degree attainment rates in the U.S. Notwithstanding those concerns, college access will continue to be a major issue. How can our nation expand college opportunities to those who have long been underrepresented, including lower-income students, minorities, and those who are the first in their families to attend college, ramping up the number of degree earners?

Source Site: /desautels

How Far Down Do You Define Deviancy in Ferguson?

Fri, 2014-11-28 12:29

The late Daniel Patrick Moynihan’s celebrated phrase “defining deviancy down” first appeared in a 1993 essay in The American Scholar. “I proffer the thesis,” wrote Moynihan, “that, over the past generation…the amount of deviant behavior in American society has increased beyond the levels the community can ‘afford to recognize’ and that, accordingly, we have been re-defining deviancy so as to exempt much conduct previ

Source Site: /desautels

The boom-and-bust Fed's rental society

Sat, 2014-10-18 11:54

Article By Reuven Brenner 

Now, as during World War II and up to 1951, the US Federal Reserve practiced what is now called quantitative easing (QE). Then, as now, nominal interest rates were low and the real ones negative: The Fed’s policy did not so much induce investments as it allowed the government to accumulate debts, and prevent default. 

Source Site: /desautels