Learn about the life and works of James M. Buchanan, a Nobel Prize-winning economist and pioneer of public choice theory and ...
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 ...
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 ...
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Ethics is an undervalued concept in economics. Economic teaching is calibrated to focus on issues related to growth, productivity and optimization. Professors and lecturers responsible for teaching ...
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 ...
Steven Pressman does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond ...
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