Learn about centrally planned economies, where governments make key economic decisions. Explore features, benefits, ...

Discover how the Robin Hood Effect redistributes wealth, its economic impacts, and examples of policies and activities that ...

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that ...

The new political economy, a recognized sub-discipline of economics, actually has several roots in economics and political science. The most recent approach to the origin of the new political economy ...

THE MODERN ECONOMY is a complex machine. Its job is to allocate limited resources and distribute output among a large number of agents—mainly individuals, firms, and governments—allowing for the ...

The bidding process for the 2022 Olympics was a disaster for the International Olympic Committee. Democratic nations are no longer buying the argument that hosting the games is a wise investment.