The Nobel Memorial Prize in Economic Science was awarded today to two scholars who revolutionized the technique of statistically modeling national economies, stock markets, and other complex systems ...

Decentralized finance (DeFi) has emerged as the flagship concept and use case for blockchain technology and cryptocurrency. DeFi is the use of smart contracts and other decentralized technologies to ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Economics is commonly described as the science of scarcity. We have limited resources, and we have to ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

The economy has gone from President Donald Trump’s greatest political asset to perhaps his biggest weakness. Unemployment is spiking at an unprecedented rate. Consumer spending is vanishing. And GDP ...