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A market is called efficient if it always reflects all available information. The following proposition can be derived from the Efficient Market Hypothesis (EMH): Asset prices, for instance stock prices, do not follow a systematic pattern over time, but instead follow a random walk; i.e...

The Great Depression was the result of a misguided government policy of the Hoover administration: after the economy went into a recession triggered by the stock market crash in 1929, taxes were increased to 50% with the goal to reduce the budget deficit, and even worse, the money supply was...

Well dude, there are in fact some academic souls who consider economics as a science. The reason they do that is because they adopt the methods generally attributed to 'science' so that economics comply with the generally accepted definition of science as a 'systematic knowledge of the physical...