Apr 12, 2020
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The United States Government and governments around the world have been behaving in a manner that is counterproductive. They have created a moral hazard of encouraging individuals and businesses to take selfish action and to not manage their affairs prudently because they know that they can expect bailouts in the future.
In the short term, this seems like the right thing to do. Yet, it lays the groundwork for the long-term failure and fragility of our economic system.