Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

How many nights have you found yourself lying awake, with worries piling up like papers on a desk, wondering how much more you can handle? I know the feeling all too well. There was a time when I ...

Nelson and Winter realize that all models, including traditional ones, are abstractions, but... These abstractions give rise to predictions of behavior that do not arise, Traditional theory does not ...

Keynesian economics, as developed by economist John Maynard Keynes, comprise a theory of total spending in the economy and ...