Discover how Keynesian economics can stabilize economies by mitigating boom-bust cycles, as pioneered by John Maynard Keynes ...

I n the epilogue of their blockbuster book Mostly Harmless Econometrics (2009), Josh Angrist and Steve Pischke write, “If applied econometrics were easy, theorists would do it.” As academic jokes go, ...

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 ...

Critical Economic Theory is not a new concept. Like critical race theory (which is seen through a more controversial lens), CET seeks to examine and understand how systemic economics is ingrained in ...

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 ...

Explore true cost economics, an approach that includes external costs like pollution in pricing, ensuring a more accurate ...

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 ...

When gasoline is expensive, people grumble that big oil companies like Chevron and ExxonMobil are colluding to keep prices high. They’re wrong. The best way to understand why businesses aren’t ...

What if you could predict your competitor’s next move before they even made it? Game theory gives you the tools to do just that. Have you ever noticed how a new product launched by one brand often ...