Econ 101: Moral Hazard and How Government Policies Encourage Foolish Behavior
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Via Daniel J. Mitchell, Nicki Kurokawa, a former Cato employee, explains "moral hazard," and notes that government-subsidized risk played a pernicious role in the housing bubble and financial crisis, and warns that "too big to fail" may create similar problems in the future.
Blog Smith is inspired by the myth of Hephaestus in the creation of blacksmith-like, forged materials: ideas. This blog analyzes topics that interest me: IT, politics, technology, history, education, music, and the history of religions.