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 ...

Kenneth Arrow, whose study of how the various parts of an economy work toward equilibrium won him the Nobel Prize in 1972 and established him as one of the founders of modern economics, has died,. He ...

Economic theory has evolved into a multifaceted discipline that not only articulates the fundamental principles governing resource allocation and decision‐making but also integrates classical ideas ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Erika Rasure is globally-recognized as a ...

This review provides a common framework for researchers thinking about the next generation of micro-founded macro models of growth, inequality, and financial deepening, as well as direction for policy ...

Economics wasn't on the original list of prizes envisioned by Alfred Nobel. In 1968, Sweden's central bank, Sveriges Riksbank, donated money to the Nobel Foundation to extend a prize to economists. In ...