Lance Taylor

Involvement
Macroeconomic stabilization and adjustment in developing and transition economies; reconstruction of macroeconomic theory.

Lance Taylor received a B.S. degree with honors in mathematics from the California Institute of Technology in 1962 and a Ph.D. in Economics from Harvard University in 1968. He has been a professor in the economics departments of Harvard and the Massachusetts Institute of Technology, among other research institutions. He is currently the Arnhold Professor of International Cooperation at the New School for Social Research. He has published widely in the areas of macroeconomics, development economics, and economic theory. His most recent book is Maynard’s Revenge: The Collapse of Free Market Economics.

By this expert

“Savings Glut” Fables and International Trade Theory: An Autopsy

Article | Aug 11, 2020

A “global saving glut” was invented by Ben Bernanke in 2005 as a label for positive net lending (imports exceeding exports) to the American economy by the rest of the world. However, there is a more plausible explanation for the persistent trade imbalance between the US and its major trading partners.

Germany and China Have Savings Gluts, the USA Is a Sump: So What?

Paper Working Paper | | Aug 2020

An alternative look at the “global savings glut”

Profits from Job Losses Will Finance Government Borrowing for COVID-19 Bailouts

Article | Jun 18, 2020

COVID has meant unemployment for the many and a corporate profit-fueled windfall for the few.

CARES Will Care for Wall Street and Big Business, for Macroeconomic Balance Maybe Not So Much

Article | Apr 6, 2020

Much historical commentary emphasizes how pandemics restructure long-standing social and political arrangements. The observation applies to macroeconomics as well.

Featuring this expert

The Intercept Features INET Climate Research

News Dec 5, 2018

The Intercept highlights INET research from Enno Schröder and Servaas Storm and Gregor Semieniuk, Lance Taylor, and Armon Rezai

Reawakening

From the Origins of Economic Ideas to the Challenges of Our Time

Event Plenary | Oct 21–23, 2017

INET gathered hundreds of new economic thinkers in Edinburgh to discuss the past, present, and future of the economics profession.

Are Economists in Denial About What's Driving the Inequality Trainwreck?

Article | Jan 27, 2016

Today’s richest Americans may soon blow past the tycoons of the Roaring Twenties. Lance Taylor explains why, and what to do about it.

Do Economists Understand the Economy?

Video | Dec 1, 2015

Lance Taylor explains how missing the big picture is too common in the field.