"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 ...

For more than a quarter-century, policymakers worldwide have puzzled over how to deal with climate change. If nothing else, these negotiations have served as a productive greenhouse environment for ...

The fallout from Silicon Valley Bank’s failure has revived some of those financial crisis buzzwords we really, really hoped we wouldn’t have to say again. “Bailout,” “emergency lending facility” and ...

To date we have taken apart the firm and examined where institutions offer no advantage over bargaining by individuals, or relying on the price mechanism. We have seen two early explanations for ...

Why would a big bank with so much at stake not care about the risks that they were taking? Well, at that point, they'd all been bailed out. I mean, my feeling at that point was, well, of course they ...

Desperate times call for desperate measures. In recent years and in the face of unprecedented changes in the climate system, some previously unknown and risky solutions have been proposed to put a ...

Removing carbon dioxide emissions from the atmosphere to prevent global warming from becoming catastrophic may be a fool’s game amounting to a “moral hazard par excellence,” according to a paper ...

To date we have taken apart the firm and examined where institutions offer no advantage over bargaining by individuals, or relying on the price mechanism. We have seen two early explanations for ...