Timothy Taylor Global Economy Expert

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.

 

The Return of Quantitative Easing

Traditional monetary policy, as practiced in the decades up to 2007, faces a problem looking ahead. The shared areas in this figure show recessions.  During a typical recession, the Federal Reserve cut its policy target interest rates--the so-called federal funds rate--by about 5 percentage points.

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Lobbying vs. Campaign Spending

One of my pet peeves about arguments over the role of money in elections is that the discussion usually focuses so heavily on campaign contributions, while leaving out other intersections of money in politics--like the role of lobbying.

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The Scandinavian Style of Capitalism

It is a truth universally acknowledged that arguing about the definitions of terms like "capitalism" and "socialism" is a waste of time. So rather than argue, I will simply assert that the world has many flavors of capitalism: among them, US/British, Japanese, Scandinavian/northern European, German, Spanish/French/Italian southern European, and doubtless others. Within the United States, one might further identify a spectrum of capitalist beliefs.

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The Economics of Immigration

The Fall 2017 issue of the Cato Journal includes 11 accessible papers on "The Economics of Immigration." Here, I'll mention some insights that especially caught my eye from two of the papers.

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Parsing Trump's Deregulation Plans

Many people have visceral but opposite reactions to the word "regulation." Some have an immediately positive reaction to almost any mention of regulation, in a belief that it is likely to be necessary corrective. Others have an immediately negative reaction, in the belief that it is likely to be a wasteful and perhaps even harmful overreaction. Me, I'm just a wishy-washy guy who thinks that some regulations can be useful, while others are misguided. On the off chance that there are a few more like me out there, how should we be reacting to the Trump administration's deregulation agenda?

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