Moral hazard is when your brother-in-law borrows your car and drives it like a maniac, because if he wrecks it, it's your car, not his. The risk is yours. The recklessness is his. And the fact that he faces no downside is exactly what makes him reckless in the first place. Of course, you could be hoping that he totals your car so you can get the insurance payout! The arch-Technocrats in Washington, DC have bonded themselves to our government apparatus in a way that creates multiple and persistent moral hazards that consistently favor Technocrats.
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Patrick Wood is a leading and critical expert on Sustainable Development, Green Economy, Agenda 21, 2030 Agenda and historic Technocracy. He is the author of Technocracy Rising: The Trojan Horse of Global Transformation (2015) and co-author of Trilaterals Over Washington, Volumes I and II (1978-1980) with the late Antony C. Sutton.
