Insurance, or de facto mandatory gambling where the majority of the players don't know the rules
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Replying to @blue_traveler
@blue_traveler There's an important difference: gambling raises variance, insurance lowers variance.1 reply 0 retweets 2 likes -
Replying to @blue_traveler
@blue_traveler Rephrased: gambling creates risk, insurance reduces it. Insurance has to be a kind of canceling bet against an existing risk.1 reply 0 retweets 2 likes -
Replying to @St_Rev
@blue_traveler eg: Car insurance is a bet that pays off if and only if you wreck your car or have to pay a lawsuit. It cancels those risks.2 replies 0 retweets 3 likes -
Replying to @St_Rev
@St_Rev@blue_traveler health insurance increases risk to the entire system (in the large scale) but people call it "insurance"2 replies 0 retweets 1 like -
Replying to @sarahdoingthing
@sarahdoingthing@St_Rev@blue_traveler would a single payer model fall under this reasoning as well?1 reply 0 retweets 0 likes -
Replying to @stephenwlinn
@stephenwlinn@sarahdoingthing@blue_traveler It would have many but not all of the catastrophic features of the US system.1 reply 0 retweets 2 likes -
Replying to @St_Rev
@stephenwlinn@sarahdoingthing@blue_traveler US somehow managed the neat trick of making the worst possible policy decision at every step.1 reply 0 retweets 4 likes -
Replying to @St_Rev
@stephenwlinn@sarahdoingthing@blue_traveler National cat coverage plan a la Goldwater/McArdle >> single payer => US system.1 reply 0 retweets 0 likes
@stephenwlinn @sarahdoingthing @blue_traveler Single payer would fail badly now, bc legacy costs http://www.bloombergview.com/articles/2014-12-23/vermonts-lessons-for-fans-of-singlepayer-health-care …
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. Banned in Sweden. SubGenius, Zhuangist, white-hat troll. Defrocked mathematician. Brain problems.