Classical economy, whose beginning is usually traced to Adam Smith, found its best expression and also its end in David Ricardo. Ricardo, as Marx wrote, "made the antagonism of class-interest, of ...

I have observed and appreciated Olivier Blanchard’s intellectual journey over the last decade. It began in August 2008, with what must be regarded as one of the worst-timed papers in the history of ...

Just how important is money? Few would deny that it plays a key role in the economy.­ During the Great Depression of the 1930s, existing economic theory was unable either to explain the causes of the ...

British economist, John Maynard Keynes (1883-1946) wrote his seminal "The General Theory of Employment, Interest and Money" in 1935. This book has been the cornerstone of economic practice for many ...

The Congressional Budget Office estimates that the U.S. budget deficit will reach $1.85 trillion this year and $1.38 trillion in 2010, 13.1% and 9.6% of gross domestic product respectively. Much more ...

Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has raised more than $4.5 billion in ...

This paper develops a small open economy dynamic stochastic general equilibrium (DSGE) model of the Armenian economy. The structure of the model is largely motivated by recent developments in DSGE ...

As a rule, the latest economic figures are not that important in themselves, but they shed fresh light on long-run trends. It may or may not be true, as Dean Baker suggests, that the 0.1 percent ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Katrina Ávila Munichiello is an experienced ...

John Maynard Keynes was a 20th century British economist who developed a theory about government policy in relation to private sector business. His macroeconomics approach was to use ...