Friday, March 15, 2019

Risk Adjustment




Jim Rutt
The recent college cheating scandal is only the most recent manifestation:
Our society started to leave the road where we could expect honesty and good faith from most of our leading citizens sometime around 1976. By 1994 it was pretty clear that the operation rule of a big chunk of the elites was: "if it is arguably legal and in my personal interest I will do it". 
By 2006 the norm had become "if the risk-adjusted penalty of what happens if I get caught is lower than the benefit of the action then I will do it".
No society can long survive with that kind of ethos among its leading citizens. That moral decay is the root of all the other decay we see around us.

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