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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).
Also Known As
Birth Name:
David Cay Boyle Johnston
Alternative Names:
DC Report
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Additional quotes by David Cay Johnston
[T]hey have stopped posting notices of worker deaths. About 4800 people a year die on the job, and some... are just accidents nobody could have predicted. ...But many of them are the result of the fact that... While... most employers try, or do a good job, there are some [that] just don't care. ...[T]ime after time, they have workers who are unnecessarily maimed or killed. The records of those aren't there any more. They're not putting them up. They're fighting giving away the statistical information that we need to understand what they're doing, and the Labor Department's actions in this area are far from unique.
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I remember reading a story... in one of the biggest papers in the country about the county budget in the dominant area of marketing for that newspaper... It consisted of the 3 county commissioners... yelling at each other over the budget, and it had a single mention of the budget will be "x" dollars. It didn't tell me how much of my property taxes go up, are they spending more on the sheriff and less on schools or are they going to fix the potholes. None of the substance was there.
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