Please join us in congratulating Duncan Foley (Leo Model Professor of Economics at NSSR) and Lance Taylor (Emeritus Professor of Economics at NSSR) who have been awarded the 2015 Leontief Prize for Advancing the Frontiers of Economic Thought.
From the New School for Social Research:
The Global Development and Environment Institute at Tufts University (GDAE) inaugurated its economics prize in memory of Nobel Prize-winning and economist Wassily Leontief in 2000. The prize 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.
Duncan and Lance are two of the most creative economic theorists of our time. Their theoretical contributions over many decades make them especially appropriate as recipients of the Leontief Prize. Structuralist macroeconomics, along with important aspects of the modern theory of economic development, was largely invented by Lance Taylor, building on the work of Keynes and Kalecki. And Duncan Foley’s contributions span many fields, but most importantly he has been responsible for some of the most innovative work in the world in the areas of Marxian economics and the classical theory of money and finance. Their joint research project currently underway at the New School, funded by the Institute for New Economic Thinking, has had great impact on our understanding of the economics of climate change. It is this highly engaged work, the rigorous application of their theories to the problems of our day — economic development, inequality, the importance of regulation of finance and natural resource markets — that make the contributions of Professors Foley and Taylor so important. Their research and teaching have formed the backbone of the New School economics department for a decade, and it is their commitment to the most scholarly and rigorous heterodox thinking that continues to distinguish the New School department.