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.

  • G7 leaders before a meeting on economic security during the G7 summit, at the Grand Prince Hotel in Hiroshima, Japan, May 20, 2023, photo by Jonathan Ernst/Reuters

    Commentary

    The Global Movement Against China's Economic Coercion Is Accelerating

    There is much the West can do to push back against Chinese economic pressure, and many reasons to do so. Doing so is a core interest of the United States, which now places itself in competition with China over the shape of the international order.

    Jun 9, 2023

  • A woman lying awake in bed at 3 a.m., photo by Pormezz/Adobe Stock

    Essay

    Insomnia: The Multibillion-Dollar Problem Sapping World Productivity

    From the doctor's office to the office at work, good sleep is often overlooked as a key part of well-being. We pay for that. Chronic insomnia is associated with an average loss in workplace productivity of 45–54 days, resulting in estimated annual losses in GDP of more than $200 billion.

    Sep 8, 2023

Explore Economics

  • Israel's Prime Minister Benjamin Netanyahu, U.S. President Donald Trump, and UAE Foreign Minister Abdullah bin Zayed sign the Abraham Accords in Washington, September 15, 2020, photo by Tom Brenner/Reuters

    Commentary

    The Abraham Accords Could Have Wide-Reaching Economic Benefits

    The Abraham Accords between Israel and Muslim nations represent a possible new chapter in the region's development—away from conflict and toward a shared vision of economic prosperity. Israel's partners could gain 150,000 new jobs. And that could grow to 4 million new jobs over a decade if other nations join.

    Mar 18, 2021

  • Illustration of hand holding U.S. flag superimposed on a head, photo by Scar1984/Getty Images

    Commentary

    Book Review: 'Liberalism, the Blob, and American Foreign Policy: Evidence and Methodology' by Robert Jervis

    Robert Jervis' “Liberalism, the Blob, and American Foreign Policy: Evidence and Methodology” is a thoughtful review of two books written by prominent international relations theorists John J. Mearsheimer and Stephen M. Walt. Jervis focuses his critique primarily on methodology and argues that the actual historical record is more complicated than either Mearsheimer or Walt suggests.

    Mar 12, 2021

  • Report

    Report

    The Army's Local Economic Effects: Appendix B, Volume 1: Alabama Through Minnesota; 2nd Edition

    This appendix to the second edition of The Army's Local Economic Effects describes overall economic effects by state, details by fiscal year from 2014 to 2017, and a parsing of data by congressional district for Alabama through Minnesota.

    Mar 8, 2021

  • Report

    Report

    The Army's Local Economic Effects: Appendix B, Volume 2: Mississippi Through Wyoming; 2nd Edition

    This appendix to the second edition of The Army's Local Economic Effects describes overall economic effects by state, details by fiscal year from 2014 to 2017, and a parsing of data by congressional district for Mississippi through Wyoming.

    Mar 8, 2021

  • Report

    Report

    The Army's Local Economic Effects: 2nd Edition

    This report updates a previous report with findings on the economic activity supported by national-level Army spending in each of the 435 congressional districts for fiscal years 2014 through 2017.

    Mar 8, 2021

  • Doctor consulting with a young couple, photo by vgajic/Getty Images

    Research Brief

    10Plan, How Would It Affect Health Care Spending by Consumers and the Federal Government

    The 10Plan is a self-pay plan for individuals currently uninsured or covered by a private nongroup health insurance plan. The authors built a microsimulation model to estimate health care spending under both the status quo and the 10Plan.

    Feb 25, 2021

  • Figure looks down on another figure from a higher stack of blocks, photo by francescoch/Getty Images

    Commentary

    Shared Prosperity: The Crying Need for Inclusive Globalization

    The disaffection of a wide swath of the American population has been linked to the political polarization of the country, as well as its divisive tendencies. While globalization is not the only reason for this disaffection, it is an apt lens through which to view the revolt against elitism, expertise, and changing demographics.

    Feb 23, 2021

  • Chinese and Taiwanese flags are displayed around souvenir shops, ahead of the 60th anniversary of Second Taiwan Straits Crisis against China, in Kinmen, Taiwan, August 19, 2018, photo by Tyrone Siu/Reuters

    Testimony

    Factors Shaping China's Use of Force Calculations Against Taiwan

    Taiwan remains the People's Liberation Army's main strategic direction despite a growing recognition that the PLA must also support China's international interests and presence. Does China see itself as capable of confronting the United States and its allies in a conflict over Taiwan? And what are some U.S. policy considerations?

    Feb 18, 2021

  • A Taiwanese coast guard points at a map showing the waters surrounding Matsu islands and mainland Chinese coast, at a coast guard office on Nangan island, the main island of the Taiwan-controlled Matsu islands, January 28, 2021, photo by Ann Wang/Reuters

    Testimony

    U.S. Allied and Partner Support for Taiwan

    As the Biden administration assesses its Taiwan policy, it is important to examine how U.S. allies and partners in the Indo-Pacific might respond to a potential conflict over Taiwan. What factors might influence their willingness to help the United States defend Taiwan? And how might they respond if the United States did not come to Taiwan's defense?

    Feb 18, 2021

  • Stethoscope and electronic tablet on top of a health care billing statement, photo by jittawit.21/Getty Images

    Report

    Increasing Price Transparency in Health Care: Key Themes and Policy Options from a Technical Expert Panel

    RAND researchers examine current price transparency efforts and their features, describe barriers to more widespread availability and use of price information, and discuss possible ways to overcome those barriers.

    Feb 16, 2021

  • U.S. Department of Homeland Security seal on the podium during the groundbreaking ceremony for the new Ajo Border Patrol Station in Why, Arizona, August 19, 2010, photo by Lee Roberts/USACE

    Commentary

    The Essential Role of DHS in the Economic Recovery from COVID-19

    The name Department of Homeland Security belies an important set of roles, missions, and functions of the department related to the economic security of the United States. Wielding these powers to their full extent during the COVID-19 pandemic could set the conditions for a more rapid recovery.

    Feb 11, 2021

  • An Economic Impact Payment Card for money received as a result of the COVID-related Tax Relief Act of 2020 in Portland, Oregon, January 25, 2021, photo by Alex Milan Tracy/Reuters

    Commentary

    The Pandemic Is Completely Changing the Way We Treat Unemployment

    Unemployment insurance is the most important fiscal response the United States has during a recession, because it sends timely, targeted, and temporary financial assistance to those directly affected by the downturn. What the CARES Act created—remarkably high benefits for more workers—was a short-term experiment born of necessity, but it could have a lasting influence on public policy.

    Feb 1, 2021

  • News Release

    News Release

    Prescription Drug Prices in the United States Are 2.56 Times Those in Other Countries

    Prescription drug prices in the United States are significantly higher than in other nations, with prices in the United States averaging 2.56 times those seen in 32 other nations.

    Jan 28, 2021

  • Bottles of drugs on the shelf at the Rock Canyon Pharmacy, in Provo, Utah, May 9, 2019, photo by George Frey/Reuters

    Report

    U.S. Prescription Drug Prices Are 2.56 Times Those in Other Countries

    Prices for prescription drugs in the United States in 2018 were 256 percent of those in 32 comparison countries. For brand-name drugs, U.S. prices were 344 percent higher. But for generic drugs, they were only 84 percent of the average paid in other nations.

    Jan 28, 2021

  • A man paying for health care services at a reception desk, photo by kokouu/Getty Images

    Report

    The 10Plan: An Alternative Approach to Health Care Financing

    The 10Plan would require individuals to pay a copayment for each encounter but no premiums up front. They'd have Medicare rates, and could pay cash or borrow from the government at a low interest rate to pay for services. How would health care spending and federal costs change under the plan?

    Jan 25, 2021

  • RAND Weekly Recap

    Blog

    Political Violence, COVID-19 Vaccine Questions, Mental Health Care: RAND Weekly Recap

    This weekly recap focuses on why we need to brace for more political violence after the Capitol attack, COVID-19 vaccine questions and answers, how to reform the U.S. mental health system, and more.

    Jan 15, 2021

  • A woman stands on a ruined building after Hurricane Eta, in Wawa Bar, a Miskito indigenous community in Puerto Cabezas, Nicaragua, November 23, 2020, photo by Katlyn Holland/CRS /Latin America News Agency/Reuters

    Commentary

    Lessons for Central America's Recovery from Hurricanes

    As the global community works to assist Central America in recovering from the disastrous 2020 hurricane season, other recent recovery efforts offer helpful lessons, both for the governments of the region as well as outsiders providing resources and support.

    Jan 11, 2021

  • Signage posted on the entrance of the New York State Department of Labor offices in the Brooklyn borough of New York City, March 20, 2020, photo by Andrew Kelly/Reuters

    Commentary

    A Bell That Can't Be Unrung: The CARES Act and Unemployment Insurance

    The CARES Act broadcasted to everyone that Unemployment Insurance can do better by workers and employers. Congress can debate the hows of permanent reform, but its actions in 2020 proved the need.

    Jan 7, 2021

  • A woman from Minnesota holds up her U.S. bottle of NovoLog insulin and a Canadian box of NovoRapid, which she bought at a pharmacy in Ontario, Canada, June 29, 2019, photo by Geoff Robins/The Canadian Press via AP

    Essay

    The Astronomical Price of Insulin Hurts American Families

    More than 30 million Americans have diabetes, and nearly a quarter of them use insulin to manage their symptoms and prevent life-threatening complications. The price they have to pay for insulin is more than ten times higher than the average prices in 32 other countries combined.

    Jan 6, 2021

  • New members of Congress are sworn in during the first session of the 117th Congress at the U.S. Capitol in Washington, DC, January 3, 2021, photo by Tasos Katopodis/Reuters

    Commentary

    Unemployment Insurance and the Failure to Reform

    Unemployment Insurance is the primary U.S. policy tool for sustaining workers during periods of high unemployment. But it has a history of being repeatedly neglected. Federal reform has been stalled for nearly 50 years.

    Jan 5, 2021

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