Tag Archives: cheating

The Invisible Hand: Episode Five – Moral Hazard

“What is a Moral Hazard? To economists, it is a state that exists when people tend to take more risks knowing that someone else will bear the costs.” [The Invisible Hand: Episode Five – Moral Hazard] Couldn’t one say that this is the crux of what is wrong with our fetishism with unbridled capitalism? We […]

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Morality in Economics (and Elsewhere)

I just finished listening to CBC: The Invisible Hand, Episode 10 – Homo Economicus 2.0. The gist of the podcast was discussing the idea of economists modelling human behaviour in the marketplace via a sort of wire frame person acting its own self interest dubbed “Homo Economicus“. In recent years, an attempt has been made […]

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