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Moral Hazard and Socialism in Collective Security Agreements

November 3, 2014 in Economics

By Ryan McMaken

6949

Mises Daily Monday by Patrick Barron:

Collective security agreements allow many countries’s politicians to shift the cost of national defense to taxpayers outside their own countries. Moral hazard, belligerence, and over-reliance on military solutions often ensue.

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Source: MISES INSTITUTE

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