French philosopher Voltaire famously quipped: “If God did not exist, it would be necessary to invent him.” Something similar can be said of modern monetary theory, also known as MMT, because it may be ...

Energy Secretary Rick Perry’s attempts to discuss basic economic theory on Thursday ended up with him being mocked on Twitter. “Here’s a little economics lesson: supply and demand. You put the supply ...

Economists develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “Economic Models,” p. 8). For ...

During the great depression of the 1930s, existing economic theory was unable either to explain the causes of the severe worldwide economic collapse or to provide an adequate public policy solution to ...

One of the difficult things in economics is to match theory with reality. Anybody who has taken a basic economics course has learned the theory of comparative advantage and been taught the advantages ...

New Haven, Conn.--The basic economic theory that people work harder to avoid losing money than they do to make money is shared by monkeys, suggesting this trait has a long evolutionary history, ...

Basic economic theory says a commodity’s price should increase if demand for it grows and supply shrinks. So why didn’t Bakersfield home prices rise last month? Maybe local real estate isn’t that ...

From its most fundamental theories to the halls of academia, the field of economics is built by and for men. Google "famous economists." If you click on every single link that appears on the first ...

Ethics is an undervalued concept in economics. Economic teaching is calibrated to focus on issues related to growth, productivity and optimization. Professors and lecturers responsible for teaching ...