Economics

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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.

  • 3D printer and printable drone, gun, and airplane turbine.

    Article

    Four Ways 3D Printing May Threaten Security

    May 8, 2018

    3D printing has the potential to improve lives. But it could also bring new perils, such as disrupting weapons regulations and jeopardizing manufacturing jobs. While there's reason to be cautious about this technology, there's also danger in overreacting and overregulating what could be a new era of innovation.

  • David Davis, Britain's Secretary of State for Exiting the EU (left), and Michel Barnier, the EU's chief Brexit negotiator, talk to the media ahead of negotiations in Brussels, Belgium, September 25, 2017

    Report

    Potential Impacts of Brexit on UK, EU, U.S. Economies

    Dec 12, 2017

    The UK economy is likely to suffer under the most probable post-Brexit trade scenarios. Leaving the EU with no deal would make the UK nearly 5 percent poorer in 2029 than if it had remained. The most beneficial scenario would be a trilateral UK-EU-U.S. agreement, but that is unlikely in the current political environment.

Explore Economics

  • U.S. President Trump arrives to announce his decision to withdraw from the JCPOA Iran nuclear agreement in the Diplomatic Room of the White House, May 8, 2018

    Commentary

    Bringing Back Sanctions Will Hurt U.S. Allies and Iran, but Will It Help America?

    What happens if leaving the Iran nuclear deal and applying “maximum pressure” doesn't lead Iran to change its behavior or the regime to collapse? The Trump administration may find that it's much easier to break a deal than to replace it with something better.

    Aug 7, 2018

  • Members of the United Nations Security Council during a meeting at the U.N. headquarters in New York, April 14, 2018

    Commentary

    The Roots—and Purpose—of the Post-War Order

    As the world enters an era of greater international competition, U.S. policymakers should take care not to underestimate the importance of the postwar system. The order is far from a myth; it is the United States' most important competitive advantage.

    Aug 7, 2018

  • The U.S. Navy destroyer USS John S. McCain conducts a patrol in the South China Sea, January 22, 2017

    Commentary

    The Security Risks of a Trade War with China

    As U.S.-China trade tensions continue to rise, many observers are focused on the potential for a full-fledged trade war that could destabilize the world economy. But there are security concerns as well. A China less constrained by and invested in economic ties with the United States could pose a greater challenge to U.S. foreign policy.

    Aug 6, 2018

  • RAND researcher Anna Elizabeth 'Nancy' Nimitz, September 1, 1958

    Content

    A Brief History of RAND

    RAND was incorporated as a nonprofit corporation in 1948. From its early years to the present, RAND research is characterized by its objectivity and nonpartisanship, its quality and scientific rigor, and its dedication to improving policymaking on the most pressing issues of the day.

    Aug 3, 2018

  • Woman and elderly man looking at a laptop with insurance forms on the table nearby

    Journal Article

    Consumer Responses to Price Transparency Alone Versus Price Transparency Combined With Reference Pricing

    Reference pricing simplifies the "choice architecture" of health care decision making for patients by steering them to low-priced providers and giving them a financial incentive to comply with the nudge.

    Aug 2, 2018

  • Chinese President Xi Jinping and Indian Prime Minister Narendra Modi talk as they visit the Hubei Provincial Museum in Wuhan, China, April 27, 2018

    Commentary

    Is India the Weakest Link in the Quad?

    India's sustained membership in the Quadrilateral Security Dialogue would fit with the goal of balancing against China to deter it from further militarizing the Indo-Pacific. But New Dehli may be getting cold feet.

    Jul 23, 2018

  • Shipping containers at a port in Shanghai, China, July 10, 2018

    Commentary

    The U.S.-China Trade War: Different Messages

    The trade war between the United States and China began with the notification of tariffs on $34 billion of traded goods on each side. Officials on both sides of the Pacific are using different messages to convey the dispute. What are the real impacts likely to be?

    Jul 20, 2018

  • The Christophe de Margerie (R), an ice-class tanker fitted out to transport liquefied natural gas, is docked in Arctic port of Sabetta, Yamalo-Nenets district, Russia March 30, 2017

    Commentary

    Cooperation in the Arctic Likely to Continue—For Now

    Risks for serious tensions in the Arctic during the 2020s are likely to be overstated. Key players in the Arctic appear likely to continue working together to enhance the economic potential of the region and resolve conflicts before they emerge, as opportunities in the Arctic continue to grow.

    Jul 12, 2018

  • A stethoscope on top of 20-pound Bank of England notes

    Commentary

    Tax Funding of Health and Social Care Internationally: Does Hypothecation Help?

    The case for raising much more money to pay for health care and social care in the United Kingdom over the next few years is strong. Earmarking taxes for public funding of health care or social care is worth consideration.

    Jul 10, 2018

  • Journal Article

    Identifying Options for Funding the NHS and Social Care in the UK: International Evidence

    As part of a larger project identifying feasible options for the future funding of health & social care in the UK, this paper explores how 16 high-income countries have implemented changes to their funding systems to better meet the challenges ahead.

    Jul 10, 2018

  • Report

    Bus fare and journey time elasticities and diversion factors for all modes: A rapid evidence assessment

    In this review a substantial database of diversion-factor evidence was collated. Little recent evidence on bus fare and generalised journey time elasticities was identified. Recommendations are provided, based on analysis of the available evidence.

    Jul 9, 2018

  • U.S. President Donald Trump shakes hands with Russia's President Vladimir Putin during their bilateral meeting at the G20 summit in Hamburg, Germany, July 7, 2017

    Commentary

    Trump and Putin Should Start Small at Helsinki Summit

    Donald Trump and Vladimir Putin will hold their first formal summit on July 16. Their agenda will likely include the main sources of strain in relations, but they might find it easier to make concrete progress if they start with lower-profile issues as Mikhail Gorbachev and Ronald Reagan did at their first summit.

    Jul 2, 2018

  • Turkish and Israeli flags fly atop the Turkish embassy in Tel Aviv, Israel, June 26, 2016

    Report

    Israeli-Turkish Ties Face Formidable Challenges

    Israel and Turkey have mutual economic interests, such as trade, tourism, and energy. The two countries have usually been able to separate these interests from their political differences, but current relations remain contentious. Israel and Turkey differ on the Israeli-Palestinian conflict and the future of Syria.

    Jun 27, 2018

  • Chinese President Xi Jinping speaks as China's new Politburo Standing Committee members meet with the press at the Great Hall of the People in Beijing, China, October 25, 2017

    Commentary

    Book Review: Elizabeth Economy's The Third Revolution

    The United States' attitude towards China is undergoing a significant recalibration, perhaps the most fundamental since Beijing's crackdown at Tiananmen Square almost three decades ago. Harnessing its resurgence while tempering its revisionism will likely be Washington's most vexing long-term policy challenge.

    Jun 26, 2018

  • World flags

    Commentary

    The Need for Superpowers to Embrace a Vision of World Affairs

    A superpower promotes a conception of world affairs that attracts others, enabling it to advance its objectives and amplify its values far more than it could on its own. Washington has a significant edge over Beijing in this regard.

    Jun 21, 2018

  • Japan's Defence Minister Itsunori Onodera, U.S. Secretary of Defence Jim Mattis, and Australia's Defence Minister Marisa Payne meet on the sidelines at the IISS Shangri-la Dialogue in Singapore, June 2, 2018

    Commentary

    The Quad: Second Verse, Same as the First?

    Members of “the Quad”—an informal collaborative arrangement among the United States, Japan, India, and Australia—have proven incapable of adopting either a shared understanding of or unified policies toward China.

    Jun 15, 2018

  • G7 leaders take part in a working session on the first day of the G7 meeting in La Malbaie, Quebec, Canada, June 8, 2018

    Commentary

    Why Russia Should Not Rejoin the G7

    Even were it to disgorge the parts of Ukraine that it seized in 2014, Russia still would not qualify for reentry into the G8. An aspirational case for Russian membership might be made, but only if Russia's leadership aspires to democratic government and an open free market economy. At the moment there is no sign of such an aspiration.

    Jun 13, 2018

  • A woman looks at ribbons bearing messages wishing for the unification of two Koreas that decorate a barbed-wire fence near the demilitarized zone separating the two Koreas in Paju, South Korea, May 24, 2018

    Commentary

    Difficulties Integrating North Korean Defectors Suggest Challenges in Reunifying Korea

    Despite expansive government aid, North Korean defectors in South Korea remain a nation within a nation, co-existent yet separate. If South Korea cannot fully adopt and assimilate 30,805 North Korea defectors, how will South Korea ever embrace roughly 25 million North Koreans in the event of reunification?

    Jun 11, 2018

  • News Release

    Terrorism Cost the EU €180 Billion Between 2004 and 2016

    The European Union lost around €180 billion in GDP terms due to terrorism between 2004 and 2016. Changes in economic behavior could be the reason behind the observed negative effects on economic growth, as people and companies change their purchasing, saving and investing behaviors following terror attacks.

    Jun 6, 2018

  • British police on patrol during an increase in security after terrorist threats to the UK, York, UK, July 4, 2017

    Journal Article

    Terrorism Cost the EU €180 Billion Between 2004 and 2016

    Terrorism cost the EU about €180 billion in GDP between 2004 and 2016. Terrorist attacks can produce a range of psychological effects that may lead people and companies to change their economic behaviors. Such changes could be the reason behind the loss in GDP.

    Jun 6, 2018