Many of us have learned tough lessons on supply and demand over the past few years. The COVID-19 pandemic found many Americans hoarding toilet paper, jumping into new hobbies or splashing out on ...

Getting a “good” job is objectively harder nowadays. You could say some people were just “born at the right time,” like Americans who started their careers in the 1980s. And economists have some ideas ...

The most important lessons of an economic way of thinking haven't changed much in 40 years. But the students have.

Inflation is described as too many dollars chasing too few goods. It reflects an imbalance in the supply and demand of goods and services. The interaction between supply and demand sets prices in the ...

The terms debt and deficit are often used together in discussions and publications regarding the nation’s finances, and they are often confused with one another. The term deficit refers to a given ...

During the 1970s energy crisis, when the price of crude oil jumped 300%, the public became acutely aware of the need to reduce energy consumption through price controls, gasoline rationing and a ...

In their first chapters, many introductory econ texts list “challenges every economy must face.” “How does the economy adapt to change?” usually is on the list. That question confronts us now as we ...

In Washington, Democrats and Republicans disagree on how best to jolt the economy out of its current recession, but they agree in principle on the need to cut taxes. It’s Economics 101: if you slash ...