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Risky Business: Keynes, Moral Hazard, and the Economic Crisis

If governments do not take moral hazard seriously, their response to the present recession may sow the seeds of a future economic crisis.
Freedom of conscience is an important, though limited, right. In some cases a state may prevent someone from acting on her conscientious judgments. But in other cases—such as those in which a pro-life doctor is required to perform an abortion—the violation of conscience is intrinsically unjust.
Despite the financial crisis, markets deserve a spirited public defense that acknowledges both their virtues and limits.
A recent story in Newsweek claimed that the only reasons for opposing same-sex “marriage” are religious. But there are powerful arguments for marriage rooted not in faith but in reason.
While abortion opponents decry the deliberate destruction of human embryos, as many as half of all embryos are lost naturally. How should pro-life advocates address this problem?
The German government’s attempts to promote moderate Islam may have the opposite effect.
The advice of a recent report by the American College of Obstetricians and Gynecologists seeks to impose one contested moral view on an entire field of medicine.
John Haldane has reminded social conservatives in America of important political and moral truths, but he overlooks the necessity of engaging in partisan politics with eyes wide open to political realities.
When surveying the consequences of the recent election we should not think of the market as something disembodied from the rest of society. Its failure indicates a general failure of responsibility
Spend some time traveling in this “Axis of Evil” nation and you’ll meet many people who will challenge conventional wisdom. Understanding the mixed-bag of Syrian social, political, and cultural allegiances will be key for U.S. foreign policy.
What does the future hold for social conservatives in America? A British professor of philosophy writes to offer the advice of a friendly outsider: Don’t delude yourself into thinking the 2008 election was not a repudiation of the Bush administration, and keep in mind that aligning social conservatism too closely with either political party may prove fatal.
Welfare rights really do exist, and are usually best provided for by voluntary associations. Still, even if states aren’t always the best solution, they do have a role to play.
One need not be religious to oppose abortion. A simple look at what it does to new human life and what it has done to contemporary society is more than reason enough. New horrors loom on the horizon, but there is reason for hope.
While this weekend's conference threatens to repeat the failures of Bretton Woods, the work of economist Wilhelm Röpke may recommend a more successful approach.
Michael New's criticism of a recent study has come in for criticism itself. He responds that the study suffers from methodological mistakes and faulty presentation.
As the recent film "Obsession" points out, Islamist radicalism poses a grave threat to the freedoms of constitutional democracies. But "Obsession" largely ignores potential solutions and a host of moderate Islamic voices that have gone unheard.
The author of a recent abortion study answers Michael New's criticisms.
Social Conservatives in America would do well to consider recent events in the U.K.
Archbishop Chaput writes to the editors of Public Discourse
Doug Kmiec writes a public letter
The Obama apologists are at it again, this time attacking Archbishop Charles Chaput for speaking out against their candidate's pro-abortion views. But the latest salvo from Doug Kmiec is a tangled web of falsehoods and fallacies.
Can the Democratic Party's awkward position on infanticide and abortion be regarded as simply a lesser matter in an ensemble of "other issues" of higher standing? Or does that position challenge the very coherence of everything else that a liberal party proclaims itself to be?
Colorado's Taxpayer's Bill of Rights (TABOR) has the reputation of being America's best and most effective fiscal limit. However, it is under attack once again. On Election Day, Colorado residents will vote on Amendment 59 which would permanently nullify TABOR's revenue limit by requiring that all surplus revenues be spent on schools. This is an important election for fiscal conservatives. If Amendment 59 wins, TABOR will likely be reduced to a historical footnote. A defeat of Amendment 59, however, would have implications that will be felt well beyond Colorado. Indeed, a revitalized TABOR could give fiscal conservatives something that they have lacked--an effective model that can be used in other states.
Marriage between a man and a woman is rooted in our nature--"in biology, not bigotry"--sex between men and women makes babies, society needs babies, and babies need a father as well as a mother. But the proponents of same-sex marriage want the government to declare in law that there is no difference between same-sex and opposite-sex unions, and anyone who thinks otherwise is promoting bigotry. This will have major ramifications for those who believe in marriage in the traditional sense--especially religious citizens and organizations.