Lance Taylor (economist)

Last updated
Lance J. Taylor
Born(1940-05-25)May 25, 1940
Montpelier, Idaho, USA
Died(2022-08-15)August 15, 2022
Washington, Maine, USA
NationalityAmerican
Academic career
Doctoral
advisor
Hollis B. Chenery
Simon Kuznets
Doctoral
students
William Easterly [1]

Lance Jerome Taylor (May 25, 1940 to August 15, 2022) was an American economist who was known for his contributions to structuralist macroeconomics. [2] He was the Arnhold Professor of International Cooperation and Development and director of the Center for Economic Policy Analysis at the New School for Social Research

Contents

As a professor, he taught students who come in with "a critical attitude about economics," aiming to encourage that "progressive perspective" while providing them "the standard technical tools of economics." [3] According to Taylor, structuralist economics sought to understand the macroeconomy through “its major institutions and distributive relationships across productive sectors and social groups." [4]

He was a visiting scholar or policy advisor in over 25 countries, including Chile, Brazil, Mexico, Nicaragua, Cuba, Russia, Egypt, Tanzania, Zimbabwe, South Africa, Pakistan, India, and Thailand. [5]

He taught and worked at the New School for Social Research since 1993. [6] [7] Taylor was previously associate professor of economics at Harvard and Professor of Economics at MIT, year-long visiting professorships at U. Minnesota, Univesidade de Brasilia, Delhi School of Economics, and Stockholm School of Economics. He received a B.S. degree with honors in mathematics from the California Institute of Technology in 1962 and, after study at Lund University (Sweden) and a Fulbright Fellowship in mathematics and economics, he received a Ph.D. in economics from Harvard University in 1968. [8] [9]

Work in macroeconomics

Taylor published extensively in the fields of macroeconomics and development economics, focusing on the interaction of growth, stability and income distribution under different social relations. [10] He contributed to the development of modern Computable General Equilibrium models. [11] Using social accounting matrices of national economies, he worked to identify conditions that support healthy economics as opposed to those that yield economic crises, concluding in part that the conditions of each are complex and the particular sets of outcomes are often unanticipated. In the case of the recent economic crises, Taylor highlighted the conditions of financial deregulation and worsening income inequality. [12]

More recently Taylor took up environmental macroeconomics, under standard and demand-driven growth models. In this work, he analyzed the short- and long-term social cost of greenhouse gasses and climate change, emission control legislation, and the role of green enterprise in economic recovery and sustainability, GDP and employment growth, and service-based economies. [13] [14]

Awards and recognition

Selected publications

Personal life

Taylor and his wife, Yvonne Signe Margareta Johnsson Taylor, owned the Black Locust Farm in Washington, Maine. [23] They had two children Ian Lance Taylor and Signe Marguerite Taylor, and three grandchildren Lyla Yvonne Taylor Stettenheim, Taylor Imogen Ross, and Soren Taylor Stettenheim. [24]

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References

  1. A computable general equilibrium model of Mexico with portfolio balances : with application to devaluation.
  2. Storm, Servaas (2023). "Lance Taylor (1940–2022): Reconstructing Macroeconomics". Development and Change. doi: 10.1111/dech.12777 . ISSN   0012-155X.
  3. Lance Taylor < Profiles Economics | The New School for Social Research Archived 2014-12-22 at the Wayback Machine
  4. Reconstructing Macroeconomics — Lance Taylor | Harvard University Press
  5. Lance Taylor (Policy Innovations)
  6. New School for Social Research: Lance Taylor Archived 2014-12-22 at the Wayback Machine
  7. Dutt, Amitava Krishna, and Jaime Ros, eds. (2003) Development economics and structuralist macroeconomics: essays in honor of Lance Taylor. Edward Elgar Publishing
  8. Lance Taylor | The Institute for New Economics Thinking Archived 2015-03-15 at the Wayback Machine
  9. New School for Social Research: Lance Taylor Archived 2014-12-22 at the Wayback Machine
  10. Leontief 2015 Announcement: Foley & Taylor
  11. Socially relevant policy analysis: Structuralist computable general equilibrium models for the developing world, Cambridge: MIT Press, 1990
  12. Reconstructing Macroeconomics — Lance Taylor | Harvard University Press
  13. Lance Taylor | The Institute for New Economics Thinking Archived 2015-03-15 at the Wayback Machine
  14. Leontief 2015 Announcement: Foley & Taylor
  15. Leontief 2015 Announcement: Foley & Taylor
  16. Foley & Taylor named 2015 Leontief Prize Winners The International Society for Ecological Economics
  17. Development Economics and Structuralist Macroeconomics: Essays in Honor of ... - Google Books
  18. Marquis Who's Who on Demand - Search results for 'taylor, lance', page 1
  19. The International Who's Who 2004 - Europa Publications - Google Books
  20. Trade and Growth - ResearchGate
  21. The Marshall Lectures
  22. The International Who's Who 2004 - Europa Publications - Google Books
  23. Washington's Black Locust Farm protected in perpetuity
  24. 2010, Maynard's Revenge: The Collapse of Free Market Macroeconomics forward