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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Why Stopping Tax “Reform” Won’t Stop Inequality

Article | Dec 15, 2017

Inequality isn’t driven by taxes—it’s driven by the power of capital in relation to workers

Trump-Style Policies Will Deepen the “American Carnage”

Article | Jun 20, 2017

Current proposals will worsen inequality and harm those Trump promised to protect—while further enriching the top 1%

The “Natural” Interest Rate and Secular Stagnation: Loanable Funds Macro Models Don’t Fit the Data

Paper Commentary | | Oct 2016

The main point of this paper is that loanable funds macroeconomic models with their “natural” interest rate don’t fit with modern institutions and data. Before getting into the numbers, it makes sense to describe the models and how to think about macroeconomics in the first place.

Veiled Repression: Mainstream Economics, Capital Theory, and the Distributions of Income and Wealth

Paper Working Paper Series | | Dec 2015

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.

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