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The cost of a company not preparing for a catastrophe is hugely externalized, resulting in a lopsided risk equation that represents a market failure. In texas
by Hammershaft 6y ago
The cost of a company not preparing for a catastrophe is hugely externalized, resulting in a lopsided risk equation that represents a market failure.
In texas, the cost of that market failure can be measured in preventable deaths, none of which private energy companies needed to account for when managing risk.
In the event of a solar flare knocking out national power for months, the cost could be the collapse of modern civilization.
https://m.youtube.com/watch?v=XetplHcM7aQ https://m.youtube.com/watch?v=XetplHcM7aQ
- mjevans 6y agoLosses, and culpability of guilt (responsibility) should follow profits. Doing enough to be prepared and attempt to avoid preventable failures should be built into market players not going to jail or bankruptcy.