The U.S. has thankfully avoided adopting certain products from the United Kingdom. Such items as jellied eels, haggis, and Marmite come to mind, and I can safely say that the U.S. is a better place for generally not embracing these items from our friends across the water.
Another item from across the pond that the U.S. would be better off avoiding is the notion of “palpable error” as a condition with respect to sports betting.'
During the Great Recession some 15 years ago, a topic discussed at length was the notion of “moral hazard.” In essence, what was becoming evident as the Great Recession evolved was that the banking industry could make some very high-risk and/or stupid decisions, and if these decisions resulted in losses, the federal government would step in and rescue the bank. There were few consequences if banks were careless or sloppy in their lending practices, for they were always working with a safety net.
In essence, moral hazard allows an entity to benefit if a high-risk decision works out, while there is little, if any, harm to the firm if the decision fails. This absence of a negative feedback loop in the decision processes of a business can lead to sloppy work, for the entity always has a backstop.