I was nearly 30 years old before I first heard a lecture by an African-American woman with a Ph.D. I had a B.A. from a small, liberal-arts college and a master’s from an Ivy League divinity school, ...

Many people express objections against child labor, exploitation of the workforce or meat production involving cruelty against animals. At the same time, however, people ignore their own moral ...

Given the potential of the trading relationship between the People's Republic of China and the United States, insight into the Sino-American market negotiation process has never been more important.

Both the Times and The Washington Post (“BANKERS IN CONFERENCE: Money Stringency and Remedial Measures Discussed in Morgan’s Library”) noted that bankers shuttled between meetings at Morgan’s mansion ...

Moral regulation is widespread across societies, yet its consequences have seldom been examined empirically. We study the Hays Code (July 1934–1960s), which imposed systematic moral guidelines on ...

Explore 'moral hazard,' the key economic concept explaining how safety nets and bailouts can unintentionally encourage risky, destructive behaviour.

The Market System: What It Is, How It Works, and What to Make of It. By Charles E. Lindblom. Yale University Press, 304 pp., $26.00. Development as Freedom. By Amartya Sen. Knopf, 382 pp., $29.95; ...

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their ...

In the fourth of the John Templeton Foundation’s series of conversations among leading scientists, scholars, and public figures about the “big questions” of human life, Jagdish Bhagwati considers ...

Monday's financial meltdown brought an analogous parable to mind. Suppose your local fire department sold cigarettes and bedroom furniture, but refused to fight fires caused by smoking in bed. When ...

"Moral hazard" involves someone taking an action that will benefit them if it succeeds, while knowing they won't have to bear the consequences if it doesn't. The term is typically used to describe an ...