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I expect that many economists who might happen to read what follows would say that I present a caricature of the discipline. That may be so, or partly so, but unfortunately it’s a...
What if one of the biggest problems with conventional economics is that it misunderstands human beings? Mainstream economic theory frequently starts from the assumption that Read t...
Don’t you think economics should serve people rather than power? If not, why do we study economics, teach economics and practice economics? There is something strange about the rel...
In this latest video in my Understanding Economics series, I look at an idea economics has been missing for the last forty years, and it Read the full article...
Money is not wealth. That single distinction is one of the most important things economics has to teach, and we have been getting it wrong. Read the full article...
Rent is not just the money you pay a landlord. In economics, it means something far bigger and far more significant. Economic rent is any Read the full article...
What is a business? The conventional economic answer tends to focus on firms, markets, capital and profit. I think that misses the most important part Read the full article...
Who really creates wealth in our economy? Is it the people who own businesses, property and financial assets, or the people who actually do the Read the full article...
Inflation means that prices are rising, but knowing the inflation rate does not tell us why prices are going up. In this Understanding Economics video, Read the full article...
If you are teaching economics Modern Principles is the book to use! Great and original writing, over one hundred videos, iClicker, Achieve and lots of additional support. Contact M...
Inequality is about much more than the difference between what one person earns and another. It is about income, wealth, opportunity, security and, ultimately, power. Read the full...
Discover 6 fascinating books that reveal the hidden economic forces behind everyday decisions, habits, markets, and human behavior.
Last time, we considered whether Bob really is always exercising free choice in the (fictitious) Free Market.™ Today, we consider Bob's situation when he does have choices and has...
Poverty is not a fact of nature. It is a political choice. The UK considers a person to be living in poverty when their income Read the full article...
What is a market? Economists often talk about markets as though they are natural forces that operate independently of society and government. In this Understanding Read the full ar...
In this podcast, I talk with my old friend and Tax Justice Network co-founder John Christensen about something economics rarely discusses, which is who controls Read the full artic...
Ask most people how they think the rich got rich, and you’ll usually hear about one big win. A hot stock or a company that sold for a fortune. Economists who study wealth at the to...
An updated version of our Marginal Revolution University (MRU) video on defining the unemployment rate. Free to use for anyone but goes best, of course, with Modern Principles of E...
Money moves in patterns. Those patterns come from psychology, from access, and from the different pressures that scarcity and comfort place on the human mind. None of this is about...
Dr. Nikki Finlay's WOW! WOMEN ON WRITING TOUR OF The Economy Always Gets Better: Navigating Turbulent Times with ConfidenceAbout the Book:For those of us who forgot what we learned...
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