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 Economics of Kinlessness

Kinlessness refers to a person without close living relatives. The idea of "close relatives" can be defined various ways: for example, as no living partner or children, or as no living partner, children, siblings, or parents. Ashton M. Verdery and Rachel Margolis present "Projections of white and black older adults without living kin in the United States, 2015 to 2060" (PNAS, October 17, 2017, 114: 42, 11109-11114). They write:

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Analyzing Global and US Wealth

Wealth is not income.

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Remembering Albert Hirschman's Tunnel Effect

Why do societies worry about high or rising inequality more at some times than at others? Albert O. Hirschman offered a classic answer in "The Changing Tolerance for Income Inequality in the Course of Economic Development," which appeared in the November 1973 Quarterly Journal of Economics (87: 4, pp. 544-566). His argument is in large part structured around a tunnel metaphor, which goes like this (footnotes omitted):

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Choice and Health Insurance Coverage

Choice and Health Insurance Coverage

If you think if Medicare and Medicaid as examples of "single payer" health insurance plan, you are at best partially correct. Government health spending (including federal, state, and local) does accounts for about 46% of total US health care spending. However, a major and largely unremarked change is that government health care spending is being filtered through a system in which those receiving the government health insurance need to make choices between privately-run health insurance plans.

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Rent Control Returns: Thoughts and Evidence

Rent control is back on the public policy agenda, at least in California, where Proposition 10 on the November ballot "Expands Local Governments’ Authority to Enact Rent Control on Residential Property." Hence some thoughts about rent control in general, and a couple of the more recent studies on the topic.

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