Timothy Taylor Global Economy Guru

Timothy Taylor is an American economist. He is managing editor of the Journal of Economic Perspectives, a quarterly academic journal produced at Macalester College and published by the American Economic Association. Taylor received his Bachelor of Arts degree from Haverford College and a master's degree in economics from Stanford University. At Stanford, he was winner of the award for excellent teaching in a large class (more than 30 students) given by the Associated Students of Stanford University. At Minnesota, he was named a Distinguished Lecturer by the Department of Economics and voted Teacher of the Year by the master's degree students at the Hubert H. Humphrey Institute of Public Affairs. Taylor has been a guest speaker for groups of teachers of high school economics, visiting diplomats from eastern Europe, talk-radio shows, and community groups. From 1989 to 1997, Professor Taylor wrote an economics opinion column for the San Jose Mercury-News. He has published multiple lectures on economics through The Teaching Company. With Rudolph Penner and Isabel Sawhill, he is co-author of Updating America's Social Contract (2000), whose first chapter provided an early radical centrist perspective, "An Agenda for the Radical Middle". Taylor is also the author of The Instant Economist: Everything You Need to Know About How the Economy Works, published by the Penguin Group in 2012. The fourth edition of Taylor's Principles of Economics textbook was published by Textbook Media in 2017.

 

Can Job Training Work for Mature Adults?

Most workers learn additional skills throughout their work-life. In that sense, it's obvious that job training in some contexts works for adults. But for many of us, the additional learning happens in the context of remaining in the same job, or at least on the same broad career path. The harder question is whether it's possible to do the kind of job training with adults, perhaps adults who have just experienced a negative shock to their previous job, that jump-starts them on a career path. Paul Osterman offers a useful discussion of these issues in "Employment and training for mature adults: The current system and moving forward" (Brookings Institution Future of the Middle Class Initiative, November 2019). Here are a few themes from his report that stuck with me: 

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Is Opposition to Immigration Primarily Economic or Cultural?

It's clear that there is a considerable hostility to immigration, both in the United States and across much of Europe. Is that opposition rooted primarily in economic factors or in cultural factors? What kind of evidence could help answer the question?

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Is Trade Still a Viable Path to Development? World Development Report 2020

Many of the world's development success stories in recent decades followed a broadly similar pattern. The countries became more involved with the world economy, often by exporting manufactured goods produced by low-wage workers. The rise in exports brought economic growth and income to their economics, but perhaps just as important, it also helped to foster a range of managerial, financial and technological skills. In this way, exporting was a fundamental step on the path to economic development.

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Minimum Wages and Overtime Rules

Perhaps the best-known provision of the Fair Labor Standards Act (FLSA) of 1938 is that it set a federal minimum wage for the first time. In addition, this is the law that established the overtime rule that if you are a "nonexempt" work--which basically means a worker paid by the hour rather than on a salary--then if you work more than 40 hours/week you must be paid time-and-a-half for the additional hours. 

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The Roundup Case: Problems with Implementing Science-Based Policy

Imagine, just for the sake of argument, that you are open-minded about the question of whether the weed-killer Roundup (long produced by Monsanto, which was recently acquired by Bayer AG) causes cancer. You want to make a decision based on scientific evidence. However, you aren't a scientist yourself, and you don't feel competent at trying to read scientific studies.

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