Hope springs eternal among policy makers in Europe’s beleaguered periphery. At five minutes to midnight in Athens, and with a bank run having started in Madrid, these policy makers cling to the forlorn hope that somehow Germany is going to relent on its strong opposition to euro bonds.

Weather change and its consequences are inevitable.  Governments and rating agencies around the world have tools  to “motivate” short-term-focused insurers to broaden their risk perspectives, with their executives facing personal liabilities if their coverage reserves fall short. Without more aggressive moves, the rest of the world could end up like Grenada and Jamaica, circa 2004.

The Supreme Court's decision in Exxon Shipping v. Baker highlights the need for legislative reform of arbitrary punitive damage awards.

Though the situation in Iraq is improving, there has been severe damage to the United States' position on the world stage.

Barack Obama is appealing to younger voters while embracing his radical preacher at the same time.

Barney Frank's home-lending reform bill could seriously impede the proper function of the U.S. mortgage market.

Under what circumstances should compulsory licensing for drugs be used?

Thailand's government is breaking Western pharmaceutical patents--not for health reasons, but for its own financial gain.