How a ‘dominance’ mindset encourages leaders to put others at risk
In the aftermath of the 2008 financial debacle, a term that was once confined to economic textbooks found its way into the public discourse: ‘moral hazard’. The term describes the inclination toward risky decision-making in circumstances where someone else – not the decision-maker – bears most of the costs. In the case of the financial crash, taxpayers ended up involuntarily bankrolling a bailout of the institutions whose reckless gambles precipitated the catastrophe. It’s been argued that these corporations, deemed ‘too big to fail’, effectively danced on the edge of risk, comforted by the safety net provided by public funds. ….[READ]
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