Economics

Economics is a discipline concerned with the consumption, production, and transfer of wealth by and among individuals (microeconomics) and communities or nations (macroeconomics); subspecialties range from economic development and planning to health economics and international economic relations. RAND's many economists contribute to multidisciplinary research projects by exploring the intersections where economics informs social, military, and governmental policy decisions.

  • A woman sleeping in her bed

    Commentary

    Britain's Productivity Problem Begins in the Bedroom

    Productivity growth in the UK has seen its weakest decade since the 1820s. Chancellor Hammond increased the size of a national productivity fund to £31bn. While building people's skills and investing in infrastructure can boost productivity, the problem could also be solved if people got more sleep.

    Feb 15, 2018

  • Workers repair a bridge in Mosul, Iraq, January 28, 2018

    Commentary

    If We Don't Get the Peace Right, Iraq Will Slide Back into the Morass

    This week leaders from around the world, including Secretary of State Rex Tillerson and representatives from over 100 U.S. companies, will assemble to plan solutions to Iraq's recovery challenges and investments in its economic future. Steps taken now could well determine Iraq's future.

    Feb 12, 2018

  • A health ministry worker fumigates a public park during a campaign against dengue, chikungunya and Zika in Ciudad Juarez, Mexico April 4, 2017

    Commentary

    Can the U.S. Afford to Reduce Global Public Health Funding?

    The United States may be preparing to downsize funding for global epidemic prevention. Without renewed funding, the long-term outlook could include an increased likelihood of global disease outbreaks that would threaten the U.S.

    Feb 8, 2018

  • U.S. and Chinese officials meet prior to the U.S.-China Diplomatic and Security Dialogue in Washington, D.C., June 21, 2017

    Commentary

    The Competition for Status Could Increase the Risk of a Military Clash in Asia

    The prospect of conflict involving China remains remote, and Beijing remains committed to peaceful development. But if Beijing ever concludes that the United States and its allies have successfully stymied its aspirations, China may be tempted by riskier methods to assert its status.

    Feb 2, 2018

  • Report

    Estimating the Global Cost of Cyber Risk: Methodology and Examples

    This report shares a transparent and adaptable methodology for estimating present and future global costs of cyber risk. The report has a companion Excel-based modeling and simulation platform that allows users to alter assumptions.

    Jan 15, 2018

  • A composite image with hands on a keyboard and a padlock surrounded by a visualisation of a computer network

    Tool

    Estimating the Global Cost of Cyber Risk Calculator

    This Excel-based modeling and simulation tool estimates present and future global costs of cyber attacks and incidents. Users can also alter assumptions to investigate a wide variety of research questions.

    Jan 15, 2018

  • An Iranian scratched flag with a grunge texture

    Commentary

    Unrest in Iran: An Opportunity for Democratic Change

    As the unrest that began in Iran on Dec. 28 begins to wane following a crackdown, it is difficult to assess what may come next. But this is not the first time Iranians have come out on the streets to protest and challenge authoritarian rule, nor will it be the last; the Iranian people have a long history of seeking a democratic political order.

    Jan 14, 2018

  • Mosul in March 2016, under Islamic State control, when nighttime lighting had fallen by 55 percent compared to its pre-ISIS levels in January 2014

    Essay

    What Life Under ISIS Looked Like from Space

    Satellite images show how ISIS attempted to govern in Iraq and Syria, the economic damage the group left behind, and what it will take to rebuild.

    Jan 9, 2018

  • Britain's Secretary of State for Exiting the European Union David Davis (L), Britain's Prime Minister Theresa May, European Commission President Jean-Claude Juncker and European Union's chief Brexit negotiator Michel Barnier (R) meet at the European Commission in Brussels, Belgium December 8, 2017

    Commentary

    For the UK's Post-Brexit Economy, No Deal Is the Worst Deal

    Brexit negotiations around trade are likely to be complicated for the UK and EU, particularly as a common position between all the parties could be difficult to achieve. Trying to avoid the worst-case economic option of 'no deal' is likely to be at the top of the agendas for both the UK and EU as trade talks begin.

    Jan 9, 2018

  • Russian President Vladimir Putin and Gennady Timchenko, founder and owner of a privately held investment vehicle Volga Group, visit a new concert hall of the Mariinsky Theater in St. Petersburg, Russia, June 3, 2017

    Commentary

    Not All Russian Oligarchs Are Alike

    The U.S. Secretary of the Treasury must report to Congress the main “oligarchs” in Russia, judged by their closeness to the “regime” and net worth. This broad approach, not aimed at specific wrongdoers, poses several risks.

    Jan 8, 2018

  • Blue globe puzzle

    Report

    Testing the Value of the Postwar International Order

    The postwar order offers significant value to U.S. interests and objectives and is worth the investment. It represents a leading U.S. competitive advantage. At a time of growing rivalry, nationalism, and uncertainty, a functioning multilateral order will be essential.

    Jan 8, 2018

  • Rates of currencies are displayed at a currency exchange in Warsaw, Poland, on June 24, 2016, the day after the United Kingdom voted to leave the European Union

    Commentary

    Why Political Risks May Dampen World Economies in 2018

    The world economy has reached its strongest point since the global financial crisis a decade ago. But rising political risks may cloud prospects in 2018 and perhaps beyond.

    Jan 7, 2018

  • Japan's Prime Minister Shinzo Abe (center) is welcomed by European Council President Donald Tusk (left) and European Commission President Jean-Claude Juncker at a European Union-Japan summit, Brussels, Belgium, July 6, 2017

    Commentary

    Economic Multilateralism and Regionalism

    The trend toward economic multilateralism and regionalism is accelerating. Japan finalized a free-trade agreement with the EU that will encompass some 600 million people and 30 percent of GWP. The U.S. has benefited from bilateral agreements, but would do well to revisit its posture toward multilateral and regional currents.

    Jan 5, 2018

  • China's President Xi Jinping speaks at the opening ceremony of the "CPC in dialogue with world political parties" high-level meeting, at the Great Hall of the People in Beijing, China, December 1, 2017

    Commentary

    China's Endgame: The Path Towards Global Leadership

    The coming years are likely to see a deepening contest between the U.S. and China in the diplomatic, economic, cyber, and information domains, even as the risks of major war remain low. In its 19th CCP Congress report, Beijing articulated for the first time an ambition to contend for global leadership.

    Jan 5, 2018

  • U.S. Ambassador Nikki Haley speaks with Chinese Deputy Ambassador Wu Haitao ahead of the United Nations Security Council session on imposing new sanctions on North Korea, in New York, December 22, 2017

    Commentary

    China's Reluctance on Sanctions Enforcement in North Korea

    It's fair to question whether Beijing intends to fully enforce sanctions against the Kim Jong Un regime because such actions tend to undermine China's approach in North Korea. Beijing likely seeks to prevent the collapse of the North Korean regime to ensure that neither a spillover of refugees nor a reunified pro-U.S. Korea emerges on its doorstep.

    Jan 4, 2018

  • U.S. President Donald Trump and China's President Xi Jinping meet business leaders at the Great Hall of the People in Beijing, China, November 9, 2017

    Commentary

    America's New Security Strategy Reflects the Intensifying Strategic Competition with China

    The United States unveiled its National Security Strategy last week, describing China as a revisionist power that actively competes against the United States and its allies and partners. China had strong words of its own in response. Both will need to navigate the relationship in a way that supports stability and prosperity for both countries.

    Dec 27, 2017

  • Journal Article

    Estimating Productivity Spillovers Among Firm Networks in Indonesia

    Clustering of firms in Indonesia only leads to substantial productivity spillovers in a few industries, suggesting the need to review cluster policies.

    Dec 19, 2017

  • Morning commuters are seen outside the New York Stock Exchange, July 30, 2012

    Commentary

    Economic Instability Endangers Democracy

    The Western political community is retreating from its own institutions. The problem stems from the fact that the health of democracies is crucially dependent on their economic growth rate.

    Dec 16, 2017

  • Journal Article

    Comparative Effectiveness Research in Integrative Oncology

    Future research in the field of integrative oncology should incorporate comparative effectiveness research stakeholders, patient-reported outcomes, and economic evaluations.

    Dec 15, 2017

  • Britain's Prime Minister Theresa May is welcomed by European Commission President Jean-Claude Juncker at the EC headquarters in Brussels, Belgium, December 8, 2017

    Commentary

    The Burdens of Brexit

    The economic consequences of Brexit are likely to be negative across a wide range of scenarios, including the most likely outcomes that the UK now faces. If the UK leaves the EU with no trade deal it could lose 4.9 percent of GDP, or $140 billion, after 10 years.

    Dec 12, 2017