Peter Singer

Transparency seems to be the word of the day in a wide array of policy domains. But is greater transparency always good?

Ever since the financial crisis erupted in 2008, there has been a call for “greater transparency” in financial services. The financial-reform law passed by the United States Congress last month requires improved transparency from banks and other financial-services firms. Moreover, thanks to the hard work of Oxfam America and the Publish What You Pay coalition, the law also requires oil and mining companies – both U.S. and foreign – that want to raise capital in the U.S. to disclose their payments to the governments of countries in which they operate.

Did you make any New Year’s resolutions? Perhaps you resolved to get fit, to lose weight, to save more money, or to drink less alcohol. Or your resolution may have been more altruistic: to help those in need, or to reduce your carbon footprint. But are you keeping your resolution?

We are not yet far into 2010, but studies show that fewer than half of those who make New Year’s resolutions manage to keep them for as long as one month. What does this tell us about human nature, and our ability to live either prudently or ethically?

Something new is happening at Harvard Business School. As graduation nears for the first class to complete their Master of Business Administration since the onset of the global financial crisis, students are circulating an oath that commits them to pursue their work “in an ethical manner”; “to strive to create sustainable economic, social, and environmental prosperity worldwide”; and to manage their enterprises “in good faith, guarding against decisions and behavior that advance my own narrow ambitions but harm the enterprise and the societies it serves.”

Is the global financial crisis an opportunity to forge a new form of capitalism based on sound values?

So French President Nicholas Sarkozy and former British Prime Minister Tony Blair appear to think. At a symposium in Paris last month entitled “New World, New Capitalism,” Sarkozy described capitalism based on financial speculation as “an immoral system” that has “perverted the logic of capitalism.” He argued that capitalism needs to find new moral values and to accept a stronger role for governments. Blair called for a new financial order based on “values other than the maximum short-term profit.”

Do we live in a world that was created by a god who is all-powerful, all-knowing, and all good? Christians think we do. Yet a powerful reason for doubting this confronts us every day: the world contains a vast amount of pain and suffering. If God is all-knowing, he knows how much suffering there is. If he is all-powerful, he could have created a world without so much of it -- and he would have done so if he were all good.

Christians usually respond that God bestowed on us the gift of free will, and hence is not responsible for the evil we do. But this reply fails to deal with the suffering of those who drown in floods, are burned alive in forest fires caused by lightning, or die of hunger or thirst during a drought.

The astonishing story of Barack Obama’s election as president has already done much to restore America’s global image. In place of a president whose only qualification for the office was his father’s name, we now have one whose intelligence and vision overcame the formidable obstacle of being the exotically named son of an African Muslim. Who would have believed, after the last two elections, that the American public was capable of electing such a candidate?