Lance Taylor in Beijing (with me, center), 2001Full paper for download here. From Duncan Foley's recollection cited in the paper.Lance had what one might call a casual approach to every-day dress, though he appeared for public talks well turned out even with rather jaunty accessories. It was not unusual, however,for him to appear in his office in the working clothes of a Maine farmer. On some of these occasions, particularly when travel delays or cancellations disrupted work plans, I would...
Read More »The New School for Social Research at 100: A view from the Econ. Dept.
From a late 1990s catalogue; Lance Taylor (center), and also in no particular order and from what I can remember (Ellen Houston, Adalmir Marquetti, myself (with goaty on the left side), Margaret Duncan, Josh Bivens and Carlos Pinkusfeld (Orozco Room) The New School for Social Research was founded 100 years ago by a group of academics dissatisfied with the direction of American high education. Economics was central to the early history of the New School, and my brief, very incomplete,...
Read More »Demand Drives Growth all the Way
New paper by Lance Taylor, Duncan Foley and Armon Rezai. From the abstract: "A demand-driven alternative to the conventional Solow-Swan growth model is analyzed. Its medium run is built around Marx-Goodwin cycles of demand and distribution. Long-run income and wealth distributions follow rules of accumulation stated by Pasinetti in combination with a technical progress function for labor productivity growth incorporating a Kaldor effect and induced innovation. An explicit steady state...
Read More »Altruismo, incentivi e informazione: due o tre cose che so sull’esperienza socialista
Pubblichiamo con qualche trepidazione alcune pagine sul socialismo, partecipando a modo nostro all'anniversario e soprattutto al dibattito sul futuro della sinistra. Altruismo, incentivi e informazione: due o tre cose che so sull’esperienza socialista Sergio Cesaratto <What does the economist economize? "'Tis love, 'tis love," said the Duchess, "that makes the world go round." "Somebody said," whispered Alice, "that it's done by everybody minding their own business." "Ah well," replied...
Read More »