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Strongly agree -- resilience against catastrophe is an externality that the market general prices at $0, unless government intervenes. Simple example: we all b
by smallnamespace 10y ago
Strongly agree -- resilience against catastrophe is an externality that the market general prices at $0, unless government intervenes.
Simple example: we all benefit from not getting hit by asteroids, but good luck trying to build a profitable business based on that fact.