“So many people spend their working lives doing jobs they think are unnecessary”

Re:“So many people spend their working lives doing jobs they... by learnstats2 on Sunday March 22, 2015 @08:28AM (#9246498)

> And what does a world with less insurance look like? Insurance lets people trade a small amount of money for protection against a loss of a life-ruining amount of money.

In terms of personal insurance, a world with less insurance looks like a place where people don't suffer just for the small risk of such a loss.

Catastrophic events such as fire and health could be dealt with more sympathetically by society rather than being handled by a profit-making industry that only really wants to help people who are rich enough.

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Re:“So many people spend their working lives doing jobs they... by stephenbez on Sunday March 22, 2015 @04:38PM (#9248130)

The government has tried that: http://en.wikipedia.org/wiki/National_Flood_Insurance_Progra...

By charging premiums below market risk valuation, the program has encouraged building in vulnerable areas. This has led to destruction of resources and government transfers to the rich people in a position to own coastal property.

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