Moral Hazard and Socialism in Collective Security Agreements
November 3, 2014 in Economics
By Ryan McMaken
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.
Source: MISES INSTITUTE
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