In 1867, Europe’s intellectual elite was captivated by Marx’s Das Kapital. Meanwhile, no one had heard of 31-year-old Carl Menger, a modest Austrian bureaucrat. But when his work appeared in 1871, it ...

Although Adam Smith is well-known for emphasizing division of labor, his analysis was woefully incomplete, as Dr. Mark Thornton points out.

Discover how Oliver Williamson, a Nobel laureate, transformed economic thought with Transaction Cost Economics and influenced policy beyond traditional markets.

Learn about the life and works of James M. Buchanan, a Nobel Prize-winning economist and pioneer of public choice theory and ...

Economic historians usually are mistaken when looking at the causes of the Panic of 1857. Douglas E. French sets the record straight.

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AMW: One of the most consequential findings in the book is that parental overinvestment—financial, emotional, and ...

A new book by economist Clara Mattei explains why calls for governments to balance budgets and live within their means are ...

Author of ‘Beat the Press’ weighs in on what’s at stake in major policy debates By JAY CORELLA The Astorian Dean Baker is a ...

An Introduction to Ergodicity Economics is a new textbook that draws on physics to re-examine traditional economic theory. It begins with flipping a coin. And a hypothetical gambit. Imagine you were ...

WSJ Heard on the Street Writer Asa Fitch explains how Nvidia’s recent earnings report may have helped allay concerns about a bubble in AI and tech stocks – at least, for now. Photo: Kent ...

Early in her career, Prof. Susan C. Stokes saw a wave of democratization. In Southern Europe, Latin America and the former Soviet Union, authoritarian regimes were tumbling. But in this first quarter ...