"Hope is a little-studied concept in economics, but it's a fundamental aspect of the economy. We know that hope is largely a positive trait that helps individuals manage life's challenges, and its role is particularly important in how we think about the disadvantaged. Distinct from aspirations,...

Clifford Gaddy's and Barry Ickes' paradigm of the "virtual economy" has fundamentally changed the way people think about Russia's economy. Circulated at the highest levels of the Russian and U.S. governments and reported in leading publications worldwide, their thesis--that Russia's economy is...

The severe economic crisis facing several countries in the region has led many observers to predict a backlash against market policies and even against democracy in the region. An economic crisis of such proportions should also, in theory, have negative effects on subjective well being. Our...