The idea that we need a free-market indirection to accomplish what government regulations do just doesn’t make sense to me. If we want fewer homes to flood, we

The idea that we need a free-market indirection to accomplish what government regulations do just doesn’t make sense to me. If we want fewer homes to flood, we should build homes and communities to resist flooding, instead of giving money to a third-party that takes the risk from us. The problem is the risk, not who holds it.