tag:blogger.com,1999:blog-3758330678390419129.post7683856379294056720..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: LBJ's Great Grandkids Go Wilding in RahmalandRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3758330678390419129.post-15003253794995027432013-04-01T04:13:03.093-04:002013-04-01T04:13:03.093-04:00I comment that it has been liberalism, whereby man...I comment that it has been liberalism, whereby many live in clientelism and in dependency upon transfer payments presenting not only moral hazard but also ethical hazard as well. <br /><br />Moral hazard is defined as the financial risk arising to a third party, that comes from an exchange between two contracting individuals. Ethics is defined as right relations with others that reflects virtuesAnonymousnoreply@blogger.com