The moral cost of all this is considerable, as James Otteson and Bradley Birzer argue.

FORBES: Full Frontal Nudity Doesn't Make Us Safer: Abolish the TSA

The pervasive corruption in Turkey has imposed not only a moral cost but a heavy economic one too.

ECONOMIST: The importance of fighting corruption

But for others, the promise of stem cell research is outweighed by the moral cost of the source of the cells.

CNN: Looking for middle ground in a minefield

But he raises the issue of self-monitoring in an interesting context that not a lot of people think about too deeply: the literal financial cost, as opposed to what Google considers the moral cost.

FORBES: Baidu, Google and the literal costs of self-censorship

Some believe that expanding insurance coverage is a moral imperative regardless of its cost.

WSJ: Daniel Kessler: ObamaCare's Broken Promises

And the consequent decision-making flaws included inadequate contingency planning, insufficient information search and biased assessments of risk, cost-benefits and moral implications.

FORBES

This dramatically increased the cost of the bank bailout and exacerbated moral hazard since investors are more willing to make inefficient and risky choices if they think governments will cover their losses.

FORBES: Five Lessons From Ireland

In any case, the problem of moral hazard can never be eliminated, only suppressed (at a cost).

ECONOMIST: Could banks police each other?