In response to:

"Moral Hazard" in Politics

/ Wrote: Aug 27, 2010 7:23 PM
FLM writes: "3) It is false, and ridiculous on the face of it, to say that everyone who ever has received government charity has never and never will contribute to society." Government "charity"? What is charity? It is the donation of one's property or labour to another. Does the government own my property? Does the government own the time that I work? Does it own the fruits of my labour? If so, then am I not a slave? Charity is when I give to the less fortunate. Charity is not when the government takes from me to give to those it deigns worthy of its largesse. Social Democracies can call their governments "charities," but I strenuously disagree. Let's look at some definitions: #1 - Charity (practice), the practice of benevolent...

One of the things that makes it tough to figure out how much has to be charged for insurance is that people behave differently when they are insured from the way they behave when they are not insured.

In other words, if one person out of 10,000 has his car set on fire, and it costs an average of $10,000 to restore the car to its previous condition, then it might seem as if charging one dollar to all 10,000 people would be enough to cover the cost of paying $10,000 to the one person whose car that will need to...

Friday, June 01 | 10:35 AM ET
Friday, June 01 | 10:35 AM ET
Friday, June 01 | 10:35 AM ET
Friday, June 01 | 10:35 AM ET