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In the recent decade, we have seen numerous corporations and individuals violate the public’s trust, either through acts of infidelity or corruption. We witness scandals involving corporate executives, politicians, and even pastors. Through these acts of moral failure, those who suffered the most were the families, investors, customers, employees, and the general public.
These individuals - who were trusted by their investors, employees, and members - behaved inappropriately. In many cases, they attempted to shield themselves from the consequences of their actions by using their corporation, organization, the government, or their influence. By doing so, they became a moral hazard. These individuals abused their freedom, and also the trust that others had placed in them. Rather than being an asset, they became a liability.
Moral hazard is an economic concept that occurs when a party insulated from risk behaves differently than it would behave if it was fully exposed to the risk. Moral hazard arises because a party does not assume the full consequences and responsibilities for its actions, and therefore has a tendency to act less carefully than it otherwise would, leaving another party to hold some responsibility for the consequences of those actions.
For example, a person with insurance against automobile theft may be less cautious about locking his or her car, because the negative consequences of the vehicle being stolen have become – at least partially - the responsibility of the insurance company. When a corporation is deemed too big to fail and qualifies for a government bailout, the executives may be less prudent when it comes to administering their corporate affairs. When a pastor or politician is deemed too influential to be found guilty of a crime or to go to prison, they may become less careful in obeying the laws of the land. When our elected officials are not held to account for mismanaging the nation's finances, they are likely to continue to do so, since the national finances are fully paid for and guaranteed by the taxpayers and not themselves.
Like these leaders who have become a moral hazard, many Christians become "spiritual moral hazards" because of a lack of understanding of the grace of God. All believers have been "insured by the insurance policy of heaven", otherwise known as grace.
Grace is:
- God’s omnipotent power working on our behalf, at no cost to us.
- God’s insurance policy for believers, without a premium to be paid
Like most insurance policies, God takes complete responsibility for covering all damages, but unlike the typical insurance policy, Jesus paid the premium, so we do not have to pay for it. However, just because we are insured, it does not mean we can behave however we want to. On the contrary, being insured gives us peace of mind and freedom to fully unleash our potential and show our gratitude to Jesus for paying the premium on our behalf. We can do this by living lives that are above and beyond reproach. This is the least that we can do in response to all that Jesus has done for us.
How can you prevent yourself from becoming a spiritual moral hazard?
- Be grateful for the price Jesus paid
- Study the Scriptures
- Maintain an active prayer life
- Be transparent and avoid hypocrisy
- Focus on righteousness instead of sin
- See your life as a thanksgiving offering to God
- Have a circle of accountability
Moral hazards harm not just themselves but also those around them. The consequences of their actions impact families, employees, customers, the community they do business in, and the overall economy. Though you are no longer under the law but under grace (Romans 6:14), it does not give you the license to disobey the law, but rather the freedom and the power to fully walk in it.
My prayer for you today is that God will grant you the wisdom to operate in the power of His grace.
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