How a ‘dominance’ mindset encourages leaders to put others at risk
Hemant Kakkar and Garrett L Brady write: 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…