All Insights Articles

Decades of economic research have assumed people pursue their goals in a rational manner, discounting the effects of emotion, bias, error, and other irrational forces. Robert Shiller argues that economists need to take a closer look at how people make decisions.

A host of studies and academic theories that apply psychological insights to economic behavior have been grouped under the label "behavioral." Is this growing field changing how the economy is studied — and how it functions?

Moises Naim, editor of Foreign Policy, has spent more than a decade studying the illicit economy that moves everything from drugs and guns to pirated movies and human body parts around the world. In the book, Illicit, he outlines what amount to a shadow system of global business and trade.

It is hard to image that a healthy, home-cooked meal is contributing to climate change, but the food consumed annually by a family of four in the U.S. requires 970 gallons of gasoline to fertilize, produce, and transport. That's only slightly less than the 1070 gallons the average family uses in their cars. Helene York '88 talks about one food service company's goal of reducing its carbon footprint while still maintaining a successful bottom line.

In a traditional model, for-profit companies strive to maximize returns for investors, while nonprofit organizations serve the public good. In recent years, a new model of for-profit social enterprise has emerged. Jon Carson '84, CEO of BiddingForGood, and Scott Griffith, CEO of Zipcar, bring their experience in the field to a discussion of the for-profit social enterprise ecosystem.

As the companies that were once the suppliers to multinationals have grown into multinationals themselves, competitors can suddenly come from anywhere, according to Hal Sirkin, senior partner and managing director at the Boston Consulting Group and co-author of the book Globality. He describes how to compete in the new era of globalization.

Deborah S. Davis, a China expert and professor of sociology at Yale, discusses a wide range of issues regarding China and globalization—from the nation's growing economic power to its role in addressing worldwide environmental problems.

Princeton philosopher Peter Singer has been a prominent, often controversial, figure. His utilitarian approach, focused on reducing suffering, has led him to argue for animal liberation and euthanasia. His most recent book, The Life You Can Save, looks at the responsibilities of individuals for addressing global poverty.

The continent has often been singled out as an exception to the story of increasing globalization. Todd Moss, an Africa expert with the Center for Global Development, discusses Africa’s integration in world markets, why trade between African countries is so hard, and the role of outside powers such as China.

Even in a globalized world, culture can create real differences in how products are received from country to country. This can lead to both challenges and opportunities for businesses, according to Julien Cayla of the Australian School of Business.