John B. Taylor

George P. Shultz Senior Fellow in Economics
Awards and Honors:
American Academy of Arts and Sciences
Econometric Society (elected fellow)
Economics Distinguished Faculty Teaching Award
(2015)
Biography: 

John B. Taylor is the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University. He chairs the Hoover Working Group on Economic Policy and is director of Stanford’s Introductory Economics Center.

Taylor's fields of expertise are monetary policy, fiscal policy, and international economics. His book Getting Off Track was one of the first on the financial crisis; his latest book, First Principles, for which he received the 2012 Hayek Prize, develops an economic plan to restore America’s prosperity.

Taylor served as senior economist on President Ford's and President Carter’s Council of Economic Advisers, as a member of President George H. W. Bush's Council of Economic Advisers, and as a senior economic adviser to Bob Dole’s presidential campaign, to George W. Bush’s presidential campaign in 2000, and to John McCain’s presidential campaign. He was a member of the Congressional Budget Office's Panel of Economic Advisers from 1995 to 2001. From 2001 to 2005, Taylor served as undersecretary of the Treasury for international affairs where he was responsible for currency markets, international development, for oversight of the International Monetary Fund and the World Bank, and for coordinating policy with the G-7 and G-20.

Taylor received the Bradley Prize from the Bradley Foundation and the Adam Smith Award as well as the Adolph G. Abramson Award from the National Association for Business Economics. He was awarded the Alexander Hamilton Award for his overall leadership at the US Treasury, the Treasury Distinguished Service Award for designing and implementing the currency reforms in Iraq, and the Medal of the Republic of Uruguay for his work in resolving the 2002 financial crisis. At Stanford he was awarded the George P. Shultz Distinguished Public Service Award, as well as the Hoagland Prize and the Rhodes Prize for excellence in undergraduate teaching. He is a fellow of the American Academy of Arts and Sciences and the Econometric Society; he formerly served as vice president of the American Economic Association.

Taylor received the 2016 Adam Smith Award from the Association of Private Enterprise Education and the 2015 Truman Medal for Economic Policy for extraordinary contribution to the formation and conduct of economic policy.

Taylor formerly held positions as professor of economics at Princeton University and Columbia University. Taylor received a BA in economics summa cum laude from Princeton University in 1968 and a PhD in economics from Stanford University in 1973.

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Recent Commentary

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The Trouble with Tariffs

by John B. Taylorvia Hoover Digest
Monday, April 20, 2020

Tariffs are sometimes seen as war by other means—and trade conflicts aren’t exempt from the fog of war.

Interviews

George Shultz And John Taylor Discuss Economic Policy Lessons

interview with John B. Taylor, George P. Shultzvia Stanford News
Tuesday, April 14, 2020

Hoover Institution fellows George Shultz and John Taylor discuss the economic choices facing policymakers today based on their experiences at the highest levels of policymaking in the White House; the reasons behind the Nixon administration’s decision to impose national limits on wages and prices in the 1970s; and how the Reagan administration changed course and adopted free-market-oriented policies in the 1980s.

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Lessons From Crises Past

by George P. Shultz, Michael J. Boskin, John B. Taylorvia Project Syndicate
Wednesday, April 8, 2020

Government policies restricting the operation of markets usually do more harm than good. Even in times of crisis, such as the current coronavirus pandemic, policymakers should do everything possible to keep markets working and private incentives strong.

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John Taylor: COVID-19 And The Economy

interview with John B. Taylorvia Hoover Podcasts
Tuesday, April 7, 2020

Hoover Institution Fellow John Taylor on COVID-19 and the Economy.

John Taylor: COVID-19 And The Economy

interview with John B. Taylorvia Hoover Virtual Policy Briefings
Tuesday, April 7, 2020

A Hoover Virtual Policy Briefing with John Taylor: COVID-19 and the Economy
Tuesday, April 7, 2020 at 11AM PT/ 2PM ET.

Analysis and Commentary

On-Line, Ready, And Now Raring To Go With Econ 1V

by John B. Taylorvia Economics One
Tuesday, March 31, 2020

Seven years ago, I decided to create an on-line version of the on-campus Principles of Economics course—we call it Econ 1—that I had been giving for many years. I recall that we spent a lot of time and effort on this project back in 2013. Each day after giving a lecture to hundreds of students, I went to a recording studio and gave the same lecture, but divided it into shorter segments, designed for easier on-line viewing.  

Analysis and Commentary

Make Section 2201 Of The CARES Act Work In Practice

by John B. Taylorvia Economics One
Sunday, March 29, 2020

Section 2201 of the CARES (Coronavirus Aid, Relief, and Economic Security) Act authorizes direct payments, “Recovery Rebates,” to individual households and families. The Section is called the “2020 Recovery Rebates for Individuals” and is estimated to total $300 billion–the sum of $1,200 to individuals ($2,400 for joint returns) plus $500 for each qualifying child. 

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The Corona Economy with John B. Taylor

interview with John B. Taylorvia Uncommon Knowledge
Friday, March 27, 2020

AUDIO ONLY

The huge impact of the COVID-19 virus on the US and world economies.

The Corona Economy with John B. Taylor

interview with John B. Taylorvia Uncommon Knowledge
Friday, March 27, 2020

TRANSCRIPT ONLY

In this first of a new series of Uncommon Knowledge with Peter Robinson conversations done via webcam, Peter Robinson talks to John B. Taylor, the Hoover Institution’s George P. Shultz Senior Fellow in Economics.

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The Corona Economy With John B. Taylor

interview with John B. Taylorvia Uncommon Knowledge
Friday, March 27, 2020

In this first of a new series of Uncommon Knowledge with Peter Robinson conversations done via webcam, Peter Robinson talks to John B. Taylor, the Hoover Institution’s George P. Shultz Senior Fellow in Economics.

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