Discover what administered prices are, their role in economies, examples from history, and how they impact supply, demand, and economic efficiency.

This paper argues that the generally shared interpretation of what can be labelled 'Smithian Newtonianism' is spurious on two counts. I suggest not only that Smith was not a Newtonian in the sense ...

Discover the concept of underemployment equilibrium in economics, its effects on unemployment rates, and why it persists. Explore Keynesian insights into economic downturns.

Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

PROF. J. SCHUMPET, a instinguished German economist of the University of Bonn, contributed an intersting paper on “The Instability of our Economic System to the proceedings of Section F (Eeonomic ...

What if you could predict your competitor’s next move before they even made it? Game theory gives you the tools to do just that. Have you ever noticed how a new product launched by one brand often ...