Agency problems in economics virtually always entail self-interested agency exhibiting "insufficient" loyalty to principal. Social psychology also has a literature, mainly derived from work by Stanley Milgram, on issues of agency, but this emphasizes excessive loyalty -- people undergoing a...

China's economic boom over the last two decades has taken many analysts by surprise, given the ongoing role of central government planning. Its current growth trajectory suggests that the size of its economy could soon surpass that of the United States. Some argue that continued growth and the...

Why should a firm expand across national frontiers? The costs of operating under different tax systems, coping with different cultural traditions and dealing with multiple bureaucracies are substantial. A new view of international economics called the internalization theory proposes that...