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Misaligned incentives account for many of the most troubling features of the pharmaceutical industry’s present practices and performance.

The pandemic and electrification are shaking the foundations of the auto industry

Regardless of what Trump says, the economic pain of the pandemic isn’t going anywhere

70 years ago today, Edward A. Tenenbaum helped pull off an astounding feat—successfully reforming Germany’s currency after World War II

From MIT to IMF

ProMarket and the Consumer Welfare Standard An output increase is not sufficient to increase welfare. Allocation—how goods are distributed—matters.

Europe’s revamped fiscal rules promise discipline and stability, but Italy’s numbers tell a different story. Once realistic multipliers and hysteresis are built in, consolidation pushes debt up, growth down, and recessionary pressure outwards across the eurozone, hardly a recipe for sustainability.

When an economic model fails, it is reality—and the people living in it—who pay the bills while the model lives on, unscathed.

The increase in populism that import competition causes has its roots in import competition’s adverse effects on local labor markets

Lance Taylor responds to William Janeway’s essay on John Maynard Keynes and Frank Ramsey. Janeway then offers his response.

Andrea Gabor, author of “After the Education Wars,” discusses how California is pushing back on millionaire-driven charter schools. Will the rest of the America follow?

Despite using different methodologies, a number of scholars agree that most of the ‘bailout’ money is going to Greece’s foreign creditors

Recently, our analysis has been questioned by Servaas Storm who has claimed that it is untenable to blame neo-mercantilist Germany for driving a wedge into the Eurozone. [i] It is shown below that Storm’s critique has a certain aplomb, but lacks substance.

Public funding behind the technology is the secret ingredient.

In this initial blog post we wish to situate microeconomics as a field of social enquiry.