Honestly, how do people get this so backwards? It's not the market's fault we have overbuilt flood plains, it's NFIP.
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Conceit of that tweet is that one man can grasp aggregate risk (like "live volcano") better than...well, everybody. Read yr damn Hayek.
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End of conversation
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In the libertarian world, who regulates the insurance companies so they would function?
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Are you asking about libertarian world or ancap world? Because libertarian world is close to the existing non-flood market.
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Answered the question with a question.
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Bye!
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Yeah, I asked a question you didn't answer but instead started to get into semantic definitions. No fruit would come of the discussion.
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. Banned in Sweden. SubGenius, Zhuangist, white-hat troll. Defrocked mathematician. Brain problems.