Delivered April 15, 2003, at the Federal Reserve Bank of Dallas to area high school teachers and college professors of economics, and the Dallas Fed’s economic research department staff. I should like ...

There is an old joke in economics about two economists walking together down the sidewalk. One of them stops the other and says, “Look! There’s a $100 bill lying there on the ground!” As he stoops to ...

Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...

The history of economic thought traces the evolution of ideas about production, distribution and exchange from antiquity to the present. Its narrative begins with early reflections on wealth in ...