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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An alternative look at the “global savings glut”
COVID has meant unemployment for the many and a corporate profit-fueled windfall for the few.
Much historical commentary emphasizes how pandemics restructure long-standing social and political arrangements. The observation applies to macroeconomics as well.
Incomes Destroyed at the Bottom, Profits Supported at the Top