Q: What is the difference between GDP and GNP? A: GDP is the market value of everything produced within a country; GNP is the value of what’s produced by a country’s residents, no matter where they ...

Consumption is an always effect of what actually matters: production. It’s a reminder that while “supply siders” are increasingly ridiculous, “supply-side economics” is a statement of the obvious: the ...

House Democratic Leader Nancy Pelosi says the Republican tax plans will be a “job-killer,” but most economic analyses of the plans suggest, on balance, modest job growth. The president revises history ...

In the middle of the eighteenth century, the physician-turned-economist François Quesnay devised a quantitative model of the economy, among the first of its kind and a precursor to present-day GDP.