In-Reply-To: <20050829164800.57029.qmail@web54005.mail.yahoo.com>
I beg to differ.
The sort of insurance we are speaking of is not universal. Many choose not
to, or cannot afford to enter the gamble.
You say it isn't catastrophic for anyone. Is that so? for the recompense
of so called "insurance " is only money recompense. the vast majority of
loss is not capable of repair or replacement.
The best model of insurance that I can think of, and an example that I
often use, is of the North American Armish people. They still practice, I
believe, a policy that was once common here in England too.
A barn, for instance, burned down. The whole community turned out, with
their carts full of timber, to rebuild the individual families barn. That
for me is an example of true "insurance". A further demonstration that it
is the communities wealth and labour that recompenses an individual for
inevitable loss.
Ken.
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Date: Mon, 29 Aug 2005 09:48:00 -0700 (PDT)
From: <william_b_ryan@yahoo.com>
To: socialcredit@elistas.com
In-Reply-To: <memo.996131@cix.compulink.co.uk>
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Subject: Re: [socialcredit] insurance premium?
X-Envelope-To: kenpalmerton@cixcouk.cix.co.uk
X-UIDL: _82B.qzzEDB.mta05.mx
"For the essence of insurance is nothing but pure
gambling. Betting upon such and such situation
occurring. Or NOT occurring."
-----------------------------------
-------------------------------------
No, it's the exact opposite of gambling. Unlike
gambling, which is zero sum, with the "casino"
skimming off the top, making it statistically negative
sum for the participants except the casino, insurance
(and modern banking for that matter) is positive sum,
for it represents the essence of cooperative behavior:
the pooling of resources and the sharing of risk.
The idea is that everyone pays the same for
proportional risk regardless of whose house burns
down. The loss - or cost of production in
accommodating proportional risk - is the same for
everyone in the community and manageable for everyone.
When the house does burn down -- no matter whose
house it happens to be -- it isn't catastrophic for
anyone.
The conceptual difference is productive versus
non-productive.
Can't you see it?
-
<kenpalmerton@cix.compulink.co.uk> wrote:
Hi Peter.
I am not sure if the subject of insurance is capable
of clarification. Or even if it would benefit from any
possible clarification.
For the essence of insurance is nothing but pure
gambling. Betting upon such and such situation
occurring. Or NOT occurring.
Bit like a racecourse Bookmaker really, with the
"Actuaries" merely setting the odds :-)
Another method of fleecing the people, without
actually having to work for it.
Ken.
-
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From: <william_b_ryan@yahoo.com>
To: socialcredit@elistas.com
In-Reply-To: <memo.996131@cix.compulink.co.uk>
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Subject: Re: [socialcredit] insurance premium?
X-Envelope-To: kenpalmerton@cixcouk.cix.co.uk
X-UIDL: _82B.qzzEDB.mta05.mx
"For the essence of insurance is nothing but pure
gambling. Betting upon such and such situation
occurring. Or NOT occurring."
-----------------------------------
-------------------------------------
No, it's the exact opposite of gambling. Unlike
gambling, which is zero sum, with the "casino"
skimming off the top, making it statistically negative
sum for the participants except the casino, insurance
(and modern banking for that matter) is positive sum,
for it represents the essence of cooperative behavior:
the pooling of resources and the sharing of risk.
The idea is that everyone pays the same for
proportional risk regardless of whose house burns
down. The loss - or cost of production in
accommodating proportional risk - is the same for
everyone in the community and manageable for everyone.
When the house does burn down -- no matter whose
house it happens to be -- it isn't catastrophic for
anyone.
The conceptual difference is productive versus
non-productive.
Can't you see it?
-
<kenpalmerton@cix.compulink.co.uk> wrote:
Hi Peter.
I am not sure if the subject of insurance is capable
of clarification. Or even if it would benefit from any
possible clarification.
For the essence of insurance is nothing but pure
gambling. Betting upon such and such situation
occurring. Or NOT occurring.
Bit like a racecourse Bookmaker really, with the
"Actuaries" merely setting the odds :-)
Another method of fleecing the people, without
actually having to work for it.
Ken.
-
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