Most economists subscribe to a belief in “positive economics,” which means that economic theory flows from economic data. Thus, all theory can be tested 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 ...

Discover Hotelling's Theory, which explains how owners of nonrenewable resources decide whether to extract and sell based on future price predictions and interest rates.

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 ...

The economy's supply side first gained attention when Adam Smith published "Wealth of Nations" in 1776. The supply side handles mobilization of resources to supply goods and services. The theory ...

In most my dealings with questions of economic development I run across men and women who view themselves as pragmatic doers, totally immune from anything quite as impractical as academic research.

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

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 ...

Calculating royalty rates as part of a patent dispute often becomes a hotly-disputed issue, where opposing economic theories from expert witnesses are pinned against one another. As a litigant, care ...

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 ...