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Reuven Brenner news

How many immigrants can Europe accommodate?

Written by Reuven BrennerEurope 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.

Published on : 25 Sep 2015

Summers, Krugman, Bernanke – arcykapłani makrostrologii

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.

Published on : 21 Sep 2015

Currency flows and flaws: Brenner

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.

Published on : 09 Sep 2015

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

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).

Published on : 27 Aug 2015

Another view: The case for year-round Pell Grants

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.

Published on : 16 Feb 2015

The Case for Year-Round Pell Grants

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?

Published on : 06 Feb 2015

How Far Down Do You Define Deviancy in Ferguson?

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

Published on : 28 Nov 2014

The boom-and-bust Fed's rental society

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. 

Published on : 18 Oct 2014

Brave hearts and wise heads

Demography is not destiny, but it sheds light on the events leading to these two referenda, the Quebec one taking place in 1995, and the Scottish one last week, and has also implications concerning the changing voting ages around the world. In most countries the voting age is 18. However, the Scottish National Party's voted unanimously in October 2007 to lower it to 16, which subsequently became law. Argentina's Cristina Kirchner's party did the same in 2012, in preparation for the 2013 elections.

Published on : 29 Sep 2014

The Scottish independence movement learned from Quebec's failed votes for separation

The first time was in 1980 when Quebec’s premier, René Lévesque, called for a provincial referendum on pursuing a negotiated secession from Canada. The key issue for the separatists was the preservation of the French language and culture.

Published on : 22 Sep 2014

Financial Options for a Country Waiting for a Divorce

Authors: Reuven Brenner Publication: La Presse, IRRP Excerpt:  In its first paragraph, the draft bill of the Quebec government, tabled on December 7, 1994 in the National Assembly, declares that "Quebec is a sovereign country." In the next paragraphs the bill indicates ways in which constitutional, territorial and legal issues, as well as those linked with currency and international alliances would be settled in case of separation. Paragraph 15 states:

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Published on : 15 Sep 2014

Asia and a happy future for opera

With classical music's popularity thriving in Asia (as millions of youngsters in China in particular are studying piano and violin from early age), and with the financial difficulties facing classical music in the West, opera houses in particular (as the New York City Opera bankruptcy, the present negotiations at the Metropolitan Opera, the last minute rescue of this year's season at the Rome opera house, and the constant strikes at classical music venues in France suggest), the question is: can classical music be financed without significant government subsidies? 

Published on : 15 Aug 2014

The 'non-state' solution

US Secretary of State John Kerry and his predecessor, Hillary Clinton, stick to their firm belief that a two-state solution is the only way to end the long-running Middle East conflict involving Israel and Palestine They are mistaken. 

Published on : 08 Aug 2014

Lettre Ouverte aux Investisseurs Irresponsables

J’ai toujours considéré l’investissement et la Bourse comme l’une des activités humaines parmi les plus stimulantes qui soient. ... Comme le dit l’économiste canadien Reuven Brenner, le progrès économique et social repose d’abord et avant tout sur notre capacité à marier le talent et le capital.Read full article: Orientation Finance

Published on : 17 Jul 2014

EU elections and demography

You have heard about the “seismic”, “shocking” and “bombshell” results from last month’s vote in Europe for the EU parliament. Many traditional, centrist parties lost ground and in France and in the UK, anti-EU parties (the Front National and UKIP respectively) received the most votes (around 25% in each case).

Published on : 18 Jun 2014