The tax overhaul bill before Congress has a professed rationale that rests on economic theory. As neuroscientists who study decision making, we would like to raise a very serious objection to this ...

Economic policy often assumes that individuals are rational, emotionless actors - but people don’t always behave the way markets expect them to ...

Editor’s Note: This is Part 1 of a two-part series on how mistaken assumptions by top U.S. policymakers have worsened the financial crisis. It has been three years since the worst financial collapse ...

The Southern Economic Journal features original, refereed scholarly articles in all areas of economics as well as contributions on the pedagogy of economics. The journal also contains occasional ...

Richard Deacon, author of the definitive history of the Keynes' Cambridge Apostles undergraduate boys' club, saw the personal roots of Keynes’ economics clearly. In his book The Cambridge Apostles he ...

Classical economic theory defines the factors of production as the three broad categories of input -- capital, labor and land (or natural resources) -- that contribute to the production of finished ...

Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...

Economist Ha-Joon Chang explains why the school of Neoclassical economics that rose in the 19th/early 20th century – now today’s dominant school of economics – decided they wanted to be scientists.

What is something “worth” in the marketplace? Who gets to decide that? If you ask someone steeped in classical economic theory, they will tell you that something is worth exactly what someone else is ...