Economic Theory

If you want to understand how the U.S. economy works, you first need to understand the fundamentals of economics and how they apply to current events.
Multi-ethnic men at work
What Is Capitalism?
characteristics of a market economy
What Is the Market Economy?
Aristocratic men in top hats sipping champagne
What Is an Oligarchy?
Illustration of 5 characteristics of a command economy
What Is a Command Economy?
Wall on Mexico border
Nationalism: Definition, Examples, and History
Rebelos, the typical wine boats of Porto, Portugal
Understanding Comparative Advantage
Franklin Delano Roosevelt
How FDR Beat the Great Depression
5 Traits of a Traditional Economy
Ronald Reagan giving a speech
How President Reagan Ended the 1980s Recession
Economies of Scale
What Are Economies of Scale?
US delegates attending the United Nations Monetary and Financial Conference, also known as the Bretton Woods Conference, in Bretton Woods, New Hampshire
How a 1944 Agreement Created a New World Order
Michael Porter speaking at a technology conference
What Is Competitive Advantage?
What Are the Major Federal Government Subsidies?
Women shopping
Vertical Integration Occurs When A Business Owns Its Supply Chain
Illustration showing the aspects of Reaganomics: tax cuts, business regulations slashes, and slowing expanding the money supply, and rate of government spending.
Would Reaganomics Work Today?
keynesian economics vs. classic economics
How Keynesian Economics Works
What Is a Mixed Economy?
Shipping containers on a container ship at sea
Is Mercantilism Back in Vogue?
President Donald Trump
President Donald Trump's Economic Plans and Policies
Tax cut
What Is the Laffer Curve?
What Is Late Stage Capitalism and Why Is It Trending Today?
shoppers-homeless trickledown
Does Trickle-Down Economics Work?
Supply side economics
Decide for Yourself Whether Supply Side Economics Works
American flag in front of the One World World trade Center in New York city
Why America Is Not Really a Free-Market Economy
An illustration with the five determinants of demand with examples and formula. "Price of good or service, income of buyers, prices of related goods or services, tastes of consumers, and expectations. Includes the formula qD=f, F = price, income, prices of related goods, tastes, expectations“
5 Determinants of Demand With Examples and Formula
Law of demand
The Law of Demand Explained Using Examples in the U.S. Economy
Politicians talking in government building
What Is Imperialism?
Warehouse worker using laptop
Living Wage: How Much Do You Need To Live in America?
Woman shopping in supermarket
What Are the Causes of Inflation?
Nobel Prize-winning economist Milton Friedman attends a 1986 Beverly Hills charity dinner in his honor. Duringthe 1980s, Friedman's monetarist policies ruled.
How Milton Friedman's Theory of Monetarism Works
Gas prices are mostly affected by oil prices
How Do Oil Prices Affect Gas Prices?
How to Use Leverage in Investing, Business, and the Economy
Image shows five icons: a paycheck, a graph, a price tag, bags of fruit, and a sneaker store with people in line outside. Text reads: "Factors that cause a demand curve to shift: Income of the buyers, consumer trends, expectations of future price, the price of related goods, the number of potential buyers"
What Does It Mean When There's a Shift in Demand Curve?
Nixon Resigns
How Nixon Destroyed the Dollar
A boy with a flag in his left hand raises his right and intones an oath of citizenship.
How the Founding Fathers’ Patriotism Created the American Dream
How George Bush Affected the Economy
President Woodrow Wilson
President Woodrow Wilson’s Economic Policies
Bill Clinton
President Bill Clinton's Economic Policies
Black and White Photo of Tank Crossing Checkpoint Charlie Into East Berlin During Cold War.
How the Cold War Continues to Affect You Today
JFK’s Economic Accomplishments. JFK at his desk in the Oval Office; an easel chart with a line graph stands in the background. Phrases like “urban spending” and “tax cuts” are written around the line graph. Show this excerpt from his first State of the Union address somewhere: "I will propose within the next 14 days measures aimed at ensuring a prompt recovery and paving the way for increased long-range growth." Continued government spending to end recession and get recovery off to a solid start Increased minimum wage Improved Social Security benefits Passed an urban renewal package
JFK's Impact on the Minimum Wage, Social Security, and Mental Health
President Jimmy Carter
How Carter Created Jobs, Fought Stagflation, and Brokered World Peace
When did the Great Depression start
Why Hoover Couldn't End the Depression With Economic Policies
LBJ in a meeting.
Thank LBJ for Medicare, Civil Rights, Driver's Ed, and Much More
Barack Obama
Was Bush or Obama Best for the Economy?
Two women working with computer in server room
Does IT Outsourcing Take Away Jobs from Americans?
Technician in Blue Coveralls and Orange Helmet Stands in Front of Pile of Compressed Plastic Waste.
What’s the Economic Impact of Plastic Pollution?
More In U.S. & World Economies
US Economy World Economy Economic Terms