Adam Smith theorized that price competition on products and labor would allow the self-interests of the buyers and sellers to result in unin...

Under Marxist ideology, the Chinese economy was a command-and-control economy eschewing the market mechanism. Mao's collective farms p...

Coming in at 2.7% of GDP, the U.S. trade deficit fell to $107.5 billion in the third quarter of 2012—down 9 percent from the second quart...

“For decades,” according to The  Wall Street Journal , “plentiful Chinese labor kept down costs of a range of goods bought by Americans.” ...

If the standard business calculations and even greed are not sufficient to account for what occurs in the business world, perhaps we need t...

Even as democracy has many virtues, the political system is not without its own weaknesses. In times of economic crisis, such as Germany in...

Bashing the French in a major article on their lack of business competitiveness, the Economist was the target of la colère en Paris in N...

Faced with political pressure from Republicans and farming groups, the White House decided in April 2012 not to go ahead with rules that w...