Economists have developed three competing explanations, or theories, to explain differences in economic growth between ...

Economic development theory usually identifies a critical stage in most countries’ successful development, based on both the examples of East Asia and the U.S. According to Internationalization of ...

Nearly 50 years ago, the preeminent economist Milton Friedman wrote that businesses don't have a social responsibility to society, only to creating wealth. In the half-century since, economists have ...

During the great depression of the 1930s, existing economic theory was unable either to explain the causes of the severe worldwide economic collapse or to provide an adequate public policy solution to ...

We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ...

Incentives are part of our daily life and can affect everything from what we eat to how we parent our children to how we perform at work. Many everyday incentive behavior is rooted in economic ...

In an increasingly digital environment where data and advanced analytics challenge traditional economic modeling, the Bank of England is applying a fusion of machine learning (ML) with economic theory ...