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 ...

Keynesian economics, as developed by economist John Maynard Keynes, comprise a theory of total spending in the economy and its effects on output and inflation.

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 book publications include Theory of International Trade (with Victor Norman), The Art of Strategy (with Barry Nalebuff), Investment Under Uncertainty (with Robert Pindyck), Games of Strategy (with ...

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

A final distinction between the two theories relates to the role of confidence. The Keynesian view assumes confidence plays a leading role in determining the economy’s performance. Classical economic ...

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, ...

Monetarism is an economic school of thought that emphasizes the role of monetary policy in the economy. It's associated with the economist Milton Friedman, and gained prominence in the second half ...