Positive economics is a fact-based analysis of what is occurring in an economy, without making prescriptions of what should or should not be happening.

We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ...

Discover the evolution of economics from ancient times to modern theories that influence global markets, including Adam Smith and Keynesian approaches.

A recent post from Daniel Lacalle, “How Keynesians Got The US Economy Wrong Again,” exposed the widening gap between John Maynard Keynes’ economic theory and reality. Despite the confident forecasts ...