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

Inflation, Import Prices, and the Labor Share

Article | Jan 25, 2021

The Challenge to Bidenomics

Inflation? It’s Import Prices and the Labor Share!

Paper Working Paper Series | | Jan 2021

Recognizing that inflation of the value of output and its costs of production must be equal, we focus on a cost-based macroeconomic structuralist approach in contrast to micro-oriented monetarist analysis.

Janeway on Ramsey and Keynes: A Comment

Article | Oct 7, 2020

Lance Taylor responds to William Janeway’s essay on John Maynard Keynes and Frank Ramsey. Janeway then offers his response.

Final Response to Andrew Smithers

Article | Oct 5, 2020

Lance Taylor and Özlem Ömer respond to Andrew Smithers’s final comment on their working paper

Featuring this expert

William Janeway reviews INET’s book, “Macroeconomic Inequality from Reagan to Trump” in Project Syndicate

News Dec 7, 2020

“Now, in a powerful work of synthesis, economist Lance Taylor, assisted by Özlem Ömer of Nevsehir Haci Bektas Veli University in Turkey, has brought a new perspective to the discussion. Taylor is a rare figure among economists nowadays. Previously a professor at two of the established citadels of mainstream economics, Harvard University and MIT, he has spent the past generation at the New School for Social Research in New York City, and is deeply engaged with the Institute for New Economic Thinking. … The overriding message from Taylor’s work is the exact opposite of “trickle-down economics.” Reducing inequality will increase economic growth and productivity. But, at the end of the day, there is no magic bullet to reverse the impact of the structural transformation of the past 50 years. That, too, was driven by policy initiatives, the full implications of which many policymakers are only just now beginning to comprehend.” — William Janeway

Research Webinar & Book Launch: Macroeconomic Inequality From Reagan to Trump

Event Webinar | Sep 18, 2020

A discussion with Lance Taylor and Özlem Ömer, authors of INET’s new book Macroeconomics Inequality from Reagan to Trump

America’s Dire Inequality Demands a New Conceptual Framework. This Economist Has One.

Article | Sep 10, 2020

In a new book from Cambridge University Press, Lance Taylor reveals that wage repression — far more than monopoly power, offshoring or technological change — is driving rising inequality.

Lance Taylor on Growth, Distribution, and the Future of Capitalism

Video | May 1, 2019

Lance Taylor, Emeritus Professor of Economics at The New School for Social Research, delivers the annual Heilbroner Memorial Lecture on the Future of Capitalism.