Economists have a term for situations in which someone gets rewards but has little or no incentive to avoid risk: a . ...Those who occupy the executi… - David Cay Johnston
" "Economists have a term for situations in which someone gets rewards but has little or no incentive to avoid risk: a . ...Those who occupy the executive suite and gamble millions of dollars on the lives of others are rarely seen as engaged in morally hazardous conduct. Yet reward without risk is a form of moral hazard that blinds us to the consequences of our acts.
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About David Cay Johnston
(born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 , and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for , writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for and , and is the board president of , Inc. (IRE).
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Birth Name:
David Cay Boyle Johnston
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DC Report
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Additional quotes by David Cay Johnston
[W]e've had this tremendous weakening of the news media, so that [many] large federal agencies... have no beat reporters... covering them. We have city councils and school boards all across America that get no coverage... and this is terrific for those people who are getting rich by exploiting the rules of the system for their benefit; and you're not hearing about that.
People have to get registered to vote. People have to be driven to the polls on election day... Go to a district where there might be change. Arrange in advance... Don't call people and ask them to go. Go get them! Take them to the polls. That's the only thing that matters at the end of the day, our votes.
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Back in 1996 I was the principle reporter at The New York Times on a huge series... that changed the way executive pay was reported. We showed how the head of had gotten a $100 million pay one year and he only paid taxes on about $2 Million... [H]e had built a fortune of just shy of a billion dollars at that point, tax free... [T]here were members of the board of directors of Coke that did not understand how much money they had paid him.
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