Bay of Quinte Green Party of Ontario Speaker Series.

Wednesday 27th March - pizza at 6pm and speakers at 7pm

St Andrew’s, 31 King St., Picton

Register at - bayofquintegpo.ca/events/

“What is money and why austerity can never work”

Conventional economics tells us there is no difference between you, me and the Federal

government. We all need to balance our budgets. But what if the Federal government creates

our money? Why then should it be bound by the same rules of household finance? In 1995 the

Chrétien government slashed spending, raised taxes and cut transfers to the provinces - and

in Ontario, Mike Harris downloaded to municipalities. The upshot was lower government

spending, more household debt, and plummeting household savings. Other countries did the

same and it all culminated in the Great Financial Crash and a deep recession. Today, after

COVID, we are once again hearing calls for austerity and high interest rates. Are these really a

solution to Canada’s economic ills or are there alternatives?

Our Speaker:

Mario Seccareccia is Professor Emeritus at the University of Ottawa where he had been

teaching economics since 1978, including visiting professorships in France and Mexico. He

has published 130 academic articles, edited peer-reviewed international journals and has

authored or edited over a dozen books. He is also a research associate at the Canadian

Centre for Policy Alternatives. Among recent recognitions, he received a Medal from the

Canadian Senate and the 2021 John Kenneth Galbraith Prize in Economics. Since retiring, he

has actively lobbied for a Bank of Canada multi-goal mandate, including full employment and a

more equitable distribution of income.