After central bank expansionary efforts have unleashed inflation, officials then seek to contract the money supply in an ...

Get the latest news and market analysis from our in-house experts. Real GDP shows the value of an economy’s output, adjusted for any changes in inflation, interest rates or other factors which could ...

In economics, the consumer surplus is the satisfaction a consumer receives when purchasing a good or service. Graphically, it is depicted as the triangle-shaped area formed by the aggregate demand ...

This is a preview. Log in through your library . Abstract The paper argues that the derivation of the aggregate demand curve in the new Keynesian literature is insufficient to provide the theoretical ...

Forbes contributors publish independent expert analyses and insights. Hersh Shefrin analyzes how psychology impacts markets and policy. John Maynard Keynes’ book The General Theory of Interest, ...

In recent days I've been doing some reading to try to understand the Austrian theory of the business cycle. One of the fundamental things that separates the Austrian School from most other ...

It has been more than 80 years since the beginning of the Keynesian revolution in economics with the publication of John Maynard Keynes’ The General Theory of Employment, Interest, and Money in 1936.

What explains the sharp decline in U.S. employment from 2007 to 2009? Why has employment remained stubbornly low? Survey data from the National Federation of Independent Businesses show that the ...

Taxes are indispensable for the functioning of a state as it provides essential services and acts as a source of provision of necessary public goods. State power also manifests itself through taxes.

It's tough enough for a small business to survive in a down economy, to say nothing of achieving hoped-for growth by opening additional locations, expanding a product line or targeting new markets.

LAST week, Christina Romer (head of Barack Obama's Council of Economic Advisors) gave a talk on the state of the economy, and particularly on unemployment. She joked that her preferred title for the ...