Faculty Viewpoints

Economics has long been used to evaluate the law. But what happens when economics gets things wrong? Law professor Christine Jolls describes the role behavioral economics can play.

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?

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.

One problem that has come up throughout this issue is how to enforce fair rules throughout a global system when most enforcement mechanisms are nation-based. Given how powerful the forces of globalization are, do we need a new global regulator?

Nigeria’s film industry, often called Nollywood, produced 1,687 feature films in 2007. That’s more movies than were made in India and the United States combined. In a country that has suffered from decades of corruption and a failure to translate significant oil wealth into a higher standard of living for the majority of people, this homegrown enterprise has brought Nigeria a new sort of attention in recent years.

American pop music blaring from speakers in North Africa. Indian novels being read on the subway in New York City. Has cultural production become as widely dispersed as the supply chain?

Depending on where you stand, globalization can mean factory jobs in Thailand or cheap goods at the mall; a world of choices or the homogenization of pop culture. Scholars from the fields of economics, sociology, and political science discuss the growing web of connections transforming commerce and culture around the world.

Responding to Q4's conversation "Did innovation cause the credit crisis?" Rick Antle, William S. Beinecke Professor of Accounting at Yale SOM, puts accounting changes and their role in the current financial turmoil in context.

With notable prescience, Shyam Sunder, the James L. Frank Professor of Accounting, Economics, and Finance at Yale SOM co-authored an editorial in the Financial Times with Stella Fearnley of Bournemouth University on August 23, 2007, warning of dangers from converging accounting models.