@GabrielDuquette Insurance companies seem to be deadweight loss?
@drethelin @GabrielDuquette That assertion seems to be common wisdom, which baffles me because it's manifestly wrong.
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@St_Rev hence my question mark. Explain please! -
@drethelin Which is stupid; profit is the signal by which corporations orient themselves. W/o profit, deadweight loss expands without limit. -
@St_Rev profit is fine for industries that are beneficial, but it seems like the insurance industry is a societal negative. -
@drethelin Insurance manufactures enormous amounts of wealth from thin air via pooling and thus offsetting global risk. -
@St_Rev@drethelin the thing is, the org in the best position to pool and offset risk is the government. hence, national healthcare. -
@admittedlyhuman@drethelin No. Two words: flood insurance. -
@St_Rev@drethelin raise property tax on floodprone property -
@admittedlyhuman@drethelin Flood insurance is federalized in the US. It has had the effect of subsidizing people to build in flood plains. - 8 more replies
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. Banned in Sweden. SubGenius, Zhuangist, white-hat troll. Defrocked mathematician. Brain problems.