Examlex
According to the argument, the diminished usefulness of the elderly justifies their depressed earning power.
Moral Hazard
The situation where one party can take risks because they know that they will not bear the consequences of their actions, often seen in situations where individuals or institutions are protected by insurance or other safety nets.
Insurance
A contract represented by a policy in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.
Avoiding Insured Risk
Strategies or actions taken to minimize exposure to risks that are typically covered by insurance policies.
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