Paul Solman: All week, we’ve been posting transcripts of past conversations with the late economist Paul Samuelson. Below, Samuelson on calculating worth. SOLMAN: Is an auction a good way to figure ...

In our first blog post on basic economic concepts, we wrote about opportunity cost. Another basic concept central to economic analysis is the concept of marginal cost (as well as marginal revenue and ...

At the heart of economics lies a deceptively simple idea that shapes everything from market strategy to personal growth: marginal value theory. Those who adhere to it insist that when making decisions ...

The author deals with the objections recently brought forward against marginal analysis as incorporated in the price theory. He begins by showing that practical economic thinking generally means ...

Nowhere are the limitations of neoclassical economic thinking – the DNA of economics as it is currently taught and practiced – more apparent than in the face of the climate crisis. While there are ...