> No, I'm afraid you don't got it. Try reading the entire essay, perhaps, and not just the snippet? Even just the snippet I quoted is contrary in meaning to the

> No, I'm afraid you don't got it. Try reading the entire essay, perhaps, and not just the snippet? Even just the snippet I quoted is contrary in meaning to the phrasing you just used. You're rather missing the point. As you say, the phenomenon described in the essay is more specific than "a hazard limited only by someone's morals". That means the phrase "moral hazard" is too vague to describe said phenomenon.