Discover Franco Modigliani's impact on economics, including his Nobel-winning theories in consumption and corporate finance.

Incentives are part of our daily life and can affect everything from what we eat to how we parent our children to how we perform at work. Many everyday incentive behavior is rooted in economic ...

When millions of homes and thousands of businesses lose access to electricity, it becomes obvious that energy is critical to the economy. We understandably focus on the crisis at hand. However, there ...

With every new administration there are hopes on the part of roughly a half of the population and dread on the other. It flips like a coin. A random walk, for the probability fans out there, that ...

Keynesian economics is a theory whose premise is that aggregate demand is a primary driver of the economy and employment. Keynesian economics is an economic theory, and the basic premise is that ...

At the end of his time in office, Barack Obama famously compared the presidency to an ocean liner. "Sometimes the task of government is to make incremental improvements or try to steer the ocean liner ...

Economic theory has evolved into a multifaceted discipline that not only articulates the fundamental principles governing resource allocation and decision‐making but also integrates classical ideas ...

The economy may be about the only human creation that works better in practice than in theory. Still, economists are busy churning out theories to explain the behavior of markets and investors.

There is an old joke in economics about two economists walking together down the sidewalk. One of them stops the other and says, “Look! There’s a $100 bill lying there on the ground!” As he stoops to ...

Discover how the labor theory of value explains the pricing of goods based on labor input and its historical importance in ...

Today’s newsletter isn’t about Modern Monetary Theory (MMT), which has been the subject of a lot of back-and-forth in the economics world over the past couple of days. Suffice it to say that I ...

When millions of homes and thousands of businesses lose access to electricity, it becomes obvious that energy is critical to the economy. We understandably focus on the crisis at hand. However, there ...