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 ...

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 ...

Discover how endogenous growth theory explains economic growth from within through innovation, human capital, and internal factors, impacting nations' prosperity.