In my last post on my Debtwatch blog, I finished by saying that the Physiocrats were the only School of economics to properly consider the role of energy in production. They ascribed it solely to ...

In this article, we show that the production, aggregation, and estimation theories that lead to a stochastic-coefficients production function are more general than those leading to a ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Economic productivity—the efficiency with which societies transform labour, capital, energy, and other natural resources into new goods or services—is a key outcome in any society because it has a ...

“The sole use of money is to circulate consumable goods.” Those are the words of Adam Smith. It was a throwaway line in Wealth of Nations so over-the-top obvious was it. Money only has a purpose ...