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The first three articles of the U.S. Constitution establish the three branches of the federal government – legislative, executive and judicial. This separation of powers provides a check on the consolidation of control over the government. Montesquieu, a source of inspiration for the framers at...

Richard H. Thaler. (University of Chicago Booth School of Business/EPA-EFE/REX/Shutterstock) This morning, the Nobel Memorial Prize in Economic Sciences was awarded to economist Richard Thaler of the University of Chicago “for his contributions to behavioural economics.” In announcing its decision, the Nobel committee explained: Richard H. Thaler has...