"Moral Hazard": Definitions on the Web

Google Definitions from Web ^ | 09/24/2008 | Compiled

[Weirdad]

Definitions of "moral hazard" on the Web:

• Arises when people behave recklessly because they know they will be saved if things go wrong.
  enbv.narod.ru/text/Econom/ib/str/261.html (links to a Russian site of all things)

[Weirdad]

(Apparently Google must be excerpted. The sole definition above was one of the more useful and simple, so I used it as the excerpt, but click the link to read all of those definitions Google produced.)

As I read all the FreeRepublic articles, every now and then I have to look up terms to see if the author is using the term the same way I understand it. If into Google you type "define:" (without the quotes) followed by a term, you will get a listing of various definitions Google finds on the web, usually from a wide variety of sources.

A buzz phrase that we are seeing a lot in the discussion of the current debacles is "moral hazard." I think it is frequently misused. Nonetheless it is an important concept as we wrestle with the nanny-goat tendencies of our present government, populated by so many socialist/communist/fascist/Obamunist politicians.

It is no fun to be abused by people who keep taking stupid risks for their own fun and profit while they laugh knowing other real Americans "must" pull their abusive posteriors out of any swamps they create.

Therefore in this instance I thought the results were of general enough interest to post as a general chat vanity (rare from me) for reference to help us all be a little better armed in the arguments of the day.

Therefore, presented for your reference...

[supercat]

I would suggest that it is fundamentally impossible to make any sound economic policy without an evaluation of moral hazard; I would further suggest that any moral hazards which are allowed to persist are almost guaranteed to become cancerous.