patrick.net

In other words, it usually creates big, counter-productive moral hazards.

The only 'moral hazards' I see are exploitation of workers by landlords, unhelathy economic bubbles which are harmful to both the micro- and macro-economies, and incredible unfairness and disenfranchisement of a sector of the population for the enrichment of others. That's my definition of a 'moral hazard'. The original defn of moral hazard was from insurance companies talking about the question of whether it becomes too tempting for a businessman to torch their business and claim the insurance. It now means anything which jeopardises so-called 'free markets' apparently, as redefined on this blog.

The whole cycle of creating 'haves and have-nots' also increases crime and anomie, which I see as 'counter-productive' also.

just a test post