http://economix.blogs.nytimes.com/2...ll-volunteer-army/?_php=true&_type=blogs&_r=0
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Yeah, the main takeaway from this article is, the people who do the "deciding" aren't the same ones that do the "fighting and dying." WHy are they so special?
On the other hand, I know from personal experience that, before the invasion of Iraq and thereafter, this welfare-economic analysis of the military draft was music to the ears of the many undergraduates who enthusiastically cheered on that invasion and the subsequent dangerous occupation of Iraq, leaving the fighting, the bleeding and the dying to someone else, all the while being assured by their economics professors that by this posture they were actually helping to maximize their nation’s overall economic welfare
blahblahblah
Yeah, the main takeaway from this article is, the people who do the "deciding" aren't the same ones that do the "fighting and dying." WHy are they so special?
The dictionary defines moral hazard as “a situation in which one party gets involved in a risky event knowing that it is protected against the risk and the other party will incur the cost,” or as Investopedia puts it, as the “idea that a party that is protected in some way from risk will act differently than if they didn’t have that protection.”