Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

In the context of markets, equilibrium is when there's a balance between supply and demand, causing prices to stabilize. When there's an imbalance between supply and demand, prices tend to fluctuate ...

This week “The Economist explains” is given over to economics. For each of six days until Saturday this blog will publish a short explainer on a seminal idea. ECONOMISTS can usually explain the past ...