Tag: i’m probably wrong

  • Maybe “moral hazard” should be taken more literally

    In this whole mortgage mess, the phrase “moral hazard” comes up an awful lot. When capitalism gets out of line, I think it’s always tempting for capitalists to look at incentives, say they reward bad behavior, and then focus thereafter on the incentives as the problem. But aren’t there always incentives for bad behavior? Isn’t that the whole […]