The historical development of the theory of costs has been away from the disutility analysis of the classicist.--The view that costs are payments for the means of production, arising out of the ...

Economics lost a giant last week when William Baumol, an economist who taught at Princeton and New York University, passed away at the age of 95. With his colleague, William Bowen, Baumol proposed the ...

The Economic Journal was first published in 1891 with a view of promoting the advancement of economic knowledge. Today, The Economic Journal is among the foremost of the learned journals in economics.

Beyond benchmark measures like employment, growth, and inflation, economics encompasses the full spectrum of humanity. It affects—and reflects—everyone. Central bankers may be most acutely aware of ...