Peter Temin is the at the Massachusetts Institute of Technology (MIT). He received his B.A. from Swarthmore College in 1959 and his Ph.D. in Economics from MIT in 1964. Professor T Elisha Gray II Professor Emeritus of Economicsemin was a Junior Fellow of the Society of Fellows at Harvard University, 1962-65; the Pitt Professor of American History and Institutions at Cambridge University, 1985-86; Head of the Economics Department at MIT, 1990-93; and President of the Economic History Association, 1995-96. Professor Temin’s most recent books are The Roman Market Economy (Princeton University Press, 2013), Prometheus Shackled: Goldsmith Banks and England’s Financial Revolution after 1700 (Oxford University Press, 2013, with Hans-Joachim Voth), The Leaderless Economy: Why the World Economic System Fell Apart and How to Fix It (Princeton University Press, 2013, with David Vines) and Keynes: Useful Economics for the World Economy (MIT Press, 2014, with David Vines).
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Comments on Paul Davidson’s “Full Employment, Open Economy Macroeconomics, and Keynes’ General Theory: Does the Swan Diagram Suffice?”
This is a response to a critique by Paul Davidson of our 2013 book Keynes: Useful Economics for the World Economy and related work, where we describe, amongst other things, how the Swan diagram can be used to show how economies can use policy tools to achieve internal and external balance.
The United States economy has come apart, with the rich getting richer and workers’ incomes not advancing at all.
I describe the American economy in the twenty-first century as a dual economy in the spirit of W. Arthur Lewis.
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Professor Temin sees the US economy as bifurcated along lines analogous to the situation described in developing world economies by W. Arthur Lewis.
Economics has a race problem.
Can education stop the country’s backward slide?
How can we better integrate history into economic analysis?