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2015 Leontief Prize Winners:
Duncan Foley and Lance Taylor
Awardees to lecture on the theme:
"Macroeconomics in the Age of Climate Change"
Monday, March 23, 2015 at 5:30
ASEAN Auditorium, Cabot Intercultural Center, 160 Packard Ave., Medford, MA
See recording of event
GDAE will award its 2015 Leontief Prize for Advancing the Frontiers of Economic Thought to Duncan Foley and Lance Taylor. The award recognizes the contributions that these researchers have made to our understanding of the relationships between environmental quality and the macroeconomy. The ceremony and lectures by the awardees will take place March 23, 2015 on Tufts University’s Medford campus.
“Our Institute’s work has been much influenced, and has greatly benefited, by the ways in which Dr. Foley and Dr. Taylor have crossed the boundaries between economics and other disciplines to produce the kind of rigorous analytical work that the Leontief Prize was created to recognize,” said GDAE Co-Director Neva Goodwin. “Dr. Taylor’s research has integrated relevant social relations into macroeconomic models, and is of critical importance for understanding present and future environmental realities and challenges. Dr. Foley’s unique approach to combining research on political economy with advances in statistics and a broad grasp of the relevant data has produced a deeper appreciation of the policy consequences of economists’ choices in theories and models.”
Both awardees contributed chapters to GDAE’s 2009 book Twenty-First Century Macroeconomics: Responding to the Climate Challenge. Dr. Taylor wrote a chapter on “Energy Productivity, Labor Productivity, and Global Warming,” while Dr. Foley authored “The Economic Fundamentals of Global Warming.” This year’s award will celebrate their continuing efforts to expand our awareness of the macroeconomic implications of climate change.
Dr. Duncan Foley is the Leo Model Professor of Economics at the New School for Social Research. He graduated from Swarthmore College with a B.A. in Mathematics in 1964, and received a Ph.D. in Economics from Yale University in 1966.
An extraordinarily productive economist, Dr. Foley has made key contributions to a wide range of fields, such as microeconomic theory, econometrics, political economy and the economics of climate change. In 2003, he authored Unholy Trinity: Labor, Capital and Land in the New Economy and in 2006, he published Adam's Fallacy: A Guide to Economic Theology, which discusses the history of political economy and economics. His recent research has analyzed critical contemporary issues such as financial instability, sustainable economic growth, and global warming from a political economy perspective.
Dr. Lance Taylor is the Emeritus Professor of Economics at the New School for Social Research and the former Arnhold Professor of International Cooperation and Development. Formerly, he was a Professor of Economics at Harvard and the Massachusetts Institute of Technology, and a Visiting Professor at the Universidade da Brasilia, Delhi University, and the Stockholm School of Economics. He has served as a visiting scholar or policy advisor in over 25 countries, including Chile, Brazil, Mexico, Nicaragua, Cuba, Russia, Egypt, Tanzania, Zimbabwe, South Africa, Pakistan, India, and Thailand. He received a Ph.D. in economics from Harvard University in 1968.
Dr. Taylor has published extensively in the fields of macroeconomics and development economics, focusing on the interaction of growth, stability and income distribution under different social relations. In his research and advisory activity, he has made major advances in the "structuralist" approach to macroeconomic policy, a main alternative to the Neoclassical tradition. Recently, Dr. Taylor has taken up the analysis of climate change from a macroeconomic perspective. His most recent book for a non-technical readership is Maynard’s Revenge: The Collapse of Free Market Macroeconomics.
Download the Announcement of the winners (PDF)
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About the Leontief Prize
GDAE inaugurated its economics award in 2000 in memory of Nobel Prize-winning economist and GDAE advisory board member Wassily Leontief. The Leontief Prize for Advancing the Frontiers of Economic Thought recognizes economists whose work, like that of the institute and Leontief himself, combines theoretical and empirical research to promote a more comprehensive understanding of social and environmental processes. The inaugural prizes were awarded in 2000 to John Kenneth Galbraith and Nobel Prize winner Amartya Sen.
GDAE was founded in 1993 with the goal of promoting a better understanding of how societies can pursue their economic and community goals in an environmentally and socially sustainable manner. The Institute develops textbooks and course materials, published on paper and on its web site, that incorporate a broad understanding of social, financial and environmental sustainability. The Institute also carries out policy-relevant research on climate change, the role of the market in environmental policy, and globalization and sustainable development.
In addition to Amartya Sen and John Kenneth Galbraith, GDAE has awarded the Leontief Prize to Paul Streeten, Herman Daly, Alice Amsden, Dani Rodrik, Nancy Folbre, Robert Frank, Richard Nelson, Ha-Joon Chang, Samuel Bowles, Juliet Schor, Jomo Kwame Sundaram, Stephen DeCanio, José Antonio Ocampo, Robert Wade, Bina Agarwal, Daniel Kahneman, Martin Weitzman, Nicholas Stern, Michael Lipton, C. Peter Timmer, Albert O. Hirschman (posthumous), Frances Stewart, Angus Deaton, and James K. Galbraith.