For better or worse, economic models guide public policy and everyday decisions alike. Four new books explore this relationship from different angles ...

(Bloomberg Opinion) -- How can you know if a macroeconomic theory is a good one? The answer is that it's surprisingly hard. Because macroeconomics doesn't work quite like science, policy makers and ...

This article continues a sequence taken from a book, Liberating Theory, published forty years ago. Its seven co-authors felt that a successful left in the U.S. needed what some of us called a shared ...

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.

Economic uncertainty, like we are living through right now, can make regular purchasing decisions challenging. Even more so decisions around big life moments, like changing your job, buying a house or ...

“There is nothing as practical as a good theory,” social psychologist Kurt Lewin wrote in 1951 in his book, Field Theory in Social Science. His point was that a sound theory is not an abstract luxury.

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 ...