Economics is a social science that studies the collection, allocation and distribution of economic resources. Business owners use the study of economics to help them make business decisions. Not only ...

The housing affordability crisis is so acute in the short run that policymakers are reaching for financial engineering ...

The elasticity of housing supply is the effect on the flow of home building (measured as a log change -- think of it as a percentage change) of the inflation-adjusted purchase price of housing (also ...

The degree of producers' responsiveness to price changes. Elasticity is measured as the percent change in quantity divided by the percent change in price. A large value (greater than 1) of elasticity ...

Building more housing – it’s widely viewed – is the solution to address housing affordability. But, what if that answer is misleading? A March 2025 research working paper from the National Bureau of ...

Some more words on price gouging, as New York and New Jersey are increasingly afflicted by gasoline shortages. There are three issues we need to look at here. One is allocation, one is short-term ...

The recent wave of sympathy for protectionist policies following the election of Donald Trump and dominant in European countries like Italy and France is nothing new if we look at international trade ...

Elasticity is an economic concept that demonstrates the effect of a product price change on demand. For example, a product such as milk is an inelastic product, since a price change will not ...

When I heard that Esquire’s “Best Bars in America” feature included a list of D.C. drinking establishments you should check out, I had a moment of panic. Then I read the feature with relief. While the ...

Your Vox Membership goes further this holiday season. When you buy an annual membership, we’ll give one to someone who can’t afford access. It’s a simple way for you to support Vox’s journalism and ...