Discover the core principles of development economics, including top theories like mercantilism and structural-change theory, ...

For a long time, many developing countries have been presented with various external models and suggestions for their development paths.One common argument has been that to achieve prosperity, ...

On Aug. 15, 1947, British colonial rule in South Asia officially ended. The four independent states that eventually emerged in its place — India, Pakistan, Sri Lanka, and Bangladesh — all faced urgent ...

When millions of homes and thousands of businesses lose access to electricity, it becomes obvious that energy is critical to the economy. We understandably focus on the crisis at hand. However, there ...

Nearly 50 years ago, the preeminent economist Milton Friedman wrote that businesses don't have a social responsibility to society, only to creating wealth. In the half-century since, economists have ...

The economy may be about the only human creation that works better in practice than in theory. Still, economists are busy churning out theories to explain the behavior of markets and investors.

Discover what profit motive means, its role in economic theory, and how it influences decisions in business and taxation.

Incentives are part of our daily life and can affect everything from what we eat to how we parent our children to how we perform at work. Many everyday incentive behavior is rooted in economic ...