Lance Taylor

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.

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Reply to Andrew Smithers

Article | Aug 24, 2020

Lance Taylor responds to Andrew Smithers’s comment on his INET working paper, “Germany and China Have Savings Gluts, the USA Is a Sump: So What?”

“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.

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