For those hoping to find more economics in their scripture study…
Moral hazard refers to people behaving differently (and typically worse) when they are insulated from the consequences of their decisions. It became a big deal in economics some 30 years ago as a problem with making contracts with incomplete information– a set of problems called “principal-agent” problems that can cause markets to fail. Now it is part of the core of any decent economics program and it is, I think, pretty obvious how it can be an issue in the Church and the Gospel. See wikipedia if you want more.
In studying employment it comes up because hired workers are likely to shirk unless they are heavily monitored, because they don’t get the profits. They are insulated from the results of their actions and this makes them work less. In development economics, this is tied to the problems with sharecropping, where the tenant lacks the incentive to work as hard because the landlord gets half of the profit. It is also proffered as a reason why family farms are more productive (per acre) than big farms in developing countries– family members may shirk less.
And from the book of John we have:
12 But he that is an hireling, and not the shepherd, whose own the sheep are not, seeth the wolf coming, and leaveth the sheep, and fleeth: and the wolf catcheth them, and scattereth the sheep.
13 The hireling fleeth, because he is an hireling, and careth not for the sheep.
Classic example of moral hazard; stewards who are not internally motivated tend to do a bad job.