Explore true cost economics, an approach that includes external costs like pollution in pricing, ensuring a more accurate ...

Most economists subscribe to a belief in “positive economics,” which means that economic theory flows from economic data. Thus, all theory can be tested for ...

Discover Robert M. Solow's contributions to economics, including the Solow-Swan Model and the Solow Residual, plus his Nobel ...

Behavioral economics, like “lived experience,” existed long before anyone thought a special and seemingly redundant name was required. To Adam Smith, economics was made of human behavior in all its ...

In recent years, something unexpected has been happening in artificial intelligence. Modern AI appears to be breaking a rule that statisticians have preached for nearly a century: Keep models in a ...

US crude oil and natural gas production has risen, but so have production declines from existing wells. As output from oil and natural gas wells decreases over time as reservoir pressure drops, ...

It’s the end of an era for America’s smallest coin. Treasury Secretary Scott Bessent will strike the nation’s final penny in a ceremonial minting on Wednesday, marking the official end of penny ...

Why doesn't a rising tide raise all or most boats? That is: how does wealth manage to get "sequestered" with the wealthiest? [In theory], they don't put it in big money rooms like Scrooge McDuck: they ...

U.S. cattle farmers have faced significant challenges in recent years, from COVID-19-related supply chain disruptions, low cattle prices and persistent drought conditions to growing threats of ...

*A viral TikTok is breathing new life into the “Boots Theory,” a concept from a 1993 Terry Pratchett novel. The theory explains how people with less money often spend more in the long run because they ...

Ecuador's oil industry is experiencing a severe decline in production due to various factors, including underinvestment, corruption, and insecurity, leading to significant economic challenges for the ...

SINGAPORE/BEIJING (Reuters) -China's Communist Party meets this month to map a five-year vision that prioritises high-tech manufacturing in its quest to upgrade its sprawling industries and project ...