In the revolutionary 1970s and 1980s, when economic theory exerted its “oppressive” power over the rest of the economics profession, expanding the language of economics was a shared core ...

His areas of research interest are development economics, economics of contracts and organisations, and public economics. Current projects include the role of market structure in microfinance, land ...

Twenty years ago, something happened when Pablo Peña sat in Prof. Gary Becker’s doctoral-level course at the University of Chicago. As the economist lectured on human capital theory, a concept he’d ...

His most famous work, The General Theory of Employment, Interest and Money, was published in 1936. But its 1930 precursor, A Treatise on Money, is often regarded as more important to economic thought.

President Donald Trump’s administration reflects this division. Its economic team includes representatives from the more ...

Economic theory has its roots in antiquity. As early as the 18th century BC, ... when the role of governments in the recovery of economies was catalytic. To this day, ...

For more than a century, neoclassical theory dominated economic thinking. Neoclassical economics is a theory based on three key assumptions: individuals have rational preferences; individuals maximize ...