(Bloomberg Opinion) -- How can you know if a macroeconomic theory is a good one? The answer is that it's surprisingly hard. Because macroeconomics doesn't work quite like science, policy makers and ...

Explore Austrian economics, its key principles, the works of Menger and Hayek, and its enduring influence on economic thought ...

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With every new administration there are hopes on the part of roughly a half of the population and dread on the other. It flips like a coin. A random walk, for the probability fans out there, that ...

Economic uncertainty, like we are living through right now, can make regular purchasing decisions challenging. Even more so decisions around big life moments, like changing your job, buying a house or ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In The Power to Destroy: How Bad Economics Drove America’s Decline, (University of Chicago Press £24/$30), ...

Economic theory provides a structured framework for understanding how scarce resources are allocated among competing uses. At its core lie models of individual choice—consumers maximise utility ...

At the end of his time in office, Barack Obama famously compared the presidency to an ocean liner. "Sometimes the task of government is to make incremental improvements or try to steer the ocean liner ...

When millions of homes and thousands of businesses lose access to electricity, it becomes obvious that energy is critical to the economy. We understandably focus on the crisis at hand. However, there ...