“Economists have a term for situations in which someone gets rewards but has little or no incentive to avoid risk: a {{w|moral hazard}}. ...Those who occupy the executive suite and gamble millions of dollars on the lives of others are rarely seen as engaged in morally hazardous conduct. Yet reward without risk is a form of moral hazard that blinds us to the consequences of our acts.”

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Originally said in English.

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About David Cay Johnston

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