Learn the difference between consumer surplus and economic surplus, how the concepts are related, and the important ...

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, ...

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 ...

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 ...

Two professors and economists—Oliver Hart and Bengt Holmström—received the Nobel Prize in Economic Sciences Monday for their insights into modern contract theory, specifically how businesses and ...

Editor's Note: Billionaire venture capitalist Nick Hanauer made his fortune as the seventh investor in Amazon and as the owner of a web ad firm, which he sold to Microsoft in 2004 for a whopping $6.4 ...

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.