Taylor is  the Jerry and Felicia Campbell Chair Professor of Economics at Central Michigan University. He received his Ph.D. from the University of Georgia in 1998 and was an assistant professor of economics at the University of Virginia between 1998 and 2003. He has been a professor at CMU since 2003 and joined the Mackinac Center's Board of Scholars in 2014.

Taylor is an authority on 20th century economic history in the United States, particularly the Great Depression and World War II, and how these historical episodes relate to cartel, labor and public choice theory. Journals in which his work has appeared include: The Journal of Law and Economics, Journal of Economic History, Public Choice, Economica, Journal of Institutional and Theoretical Economics, American Economic Review (Papers and Proceedings), Southern Economic Journal, Journal of Industrial Economics, Explorations in Economic History among others. He has published editorials in Forbes, The Wall Street Journal, USA Today and The Detroit News, and has testified on the findings of his research before Congress.

He has been editor-in-chief of Essays in Economic & Business History since April 2012.