Quick & New: INET-Book presentation – Inequality from Reagan to Trump

Lance Taylor and Özlem Ömerpresent their new book on the history of macroeconomic inequality in the USA from Reagan to Trump.

 

Buy the book here

For five decades, rising US income and wealth inequality has been driven by wage repression and production realignments benefitting the top one percent of households. In this inaugural book for Cambridge Studies in New Economic Thinking, Professor Lance Taylor takes an innovative approach to measuring inequality, providing the first and only full integration of distributional and macro level data for the US. While work by Thomas Piketty and colleagues pursues integration from the income side, Professor Taylor uses data of distributions by size of income and wealth combined with the cost and demand sides, flows of funds, and full balance sheet accounting of real capital and financial claims. This blends measures of inequality with national income and product accounts to show the relationship between productivity and wages at the industry sector level. Taylor assesses the scope and nature of various interventions to reduce income and wealth inequalities using his simulation model, disentangling wage growth and productivity while challenging mainstream models.

About the Authors

Lance Taylor, New School for Social Research, New York Lance Taylor is the Arnhold Professor Emeritus of International Cooperation and Development and was Director of the Center for Economic Policy Analysis at the New School for Social Research, New York.

Özlem Ömer is an assistant professor at Haci Bektas Veli University in Turkey. Her research interests include growth and inequality, distributive impacts of economic policies, forces and dynamics of structural change in developed and developing countries, financial crises and information theoretic approaches to modeling political economy. Her work combines theoretical, methodological, historical, structural and policy oriented aspects of macroeconomic issues by employing modern modeling techniques in her research.

America’s Dire Inequality Demands a New Conceptual Framework. This Economist Has One
Author interview by Lynn Parramore featuring Lance Taylor

Summary of the Book: “Macroeconomic Inequality from Reagan to Trump”, by Lance Taylor

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