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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The Cambridge UK vs USA capital theory debates of the 1960s showed that the workhorse mainstream growth model relies on unsustainable assumptions. Its standard interpretation is not consistent with the last four decades of data.
US household wealth concentration is not likely to decline in response to fiscal interventions alone.
Thomas Piketty vs. Luigi Pasinetti and John Maynard Keynes