Duncan Foley, left and Lance Taylor, right

Economics Professors Win Research Prize for Study of Carbon Emissions

Two professors at The New School for Social Research are using economics to address one of the most pressing issues facing humanity.

The faculty members, Duncan Foley and Lance Taylor, have completed vital research on determining the social cost of carbon emissions—the main driver of global warming.

Foley and Taylor were recently honored for their work with The Leontief Prize, a prestigious economics award recognizing “outstanding contributions to economic theory that address contemporary realities and support just and sustainable societies,” according to the Global Development And Environment Institute at Tufts University, which administers the award.

Taylor, Emeritus Professor of Economics at NSSR and the former Arnhold Professor of International Cooperation and Development, and Foley, Leo Model Professor of Economics at the New School for Social Research, have been overseeing research supported by a major research grant from The Institute for New Economic Thinking.

“Duncan Foley and Lance Taylor are two of the most creative economic theorists of our time,”William Milberg, Dean and Professor of Economics at NSSR, says. “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 university.”

The Leontief Prize is named in honor of the late Wassily Leontief, a Nobel Prize-winning economist and GDAE advisory board member whose research on the relationship between different economic sectors revolutionized the way countries plan and predict economic progress. It has been awarded to myriad prominent non-mainstream economists since 2000, including Amartya Sen, John Kenneth Galbraith and Herman E. Daly.