Comment by throwawayqqq11
1 day ago
This sounds like a very US-centric view and id strongly disagree that only the profit motive keeps economies and people going.
You almost said it yourself, "The US does a weird thing where insurance no longer means pooling risk". Why? Is it the profit motive or gov. regulation?
My answer: The selective approach of insurance companies mirrors the profit seeking lack of solidarity, which is ultimately incompatible with the risk pooling purpose, insurance companies are justified with.
Free markets have down sides and failure conditions too and only principled gov. regulation can fix it.
> This sounds like a very US-centric view
> My answer: The selective approach of insurance companies mirrors the profit seeking lack of solidarity, which is ultimately incompatible with the risk pooling purpose
What’s the non-US-centric view? Lloyd's of London is older than the US.
profit motive does keep the economy going. if you do not believe that youre like a flat earther.
Have you ever thought about, why eg. teachers choose bad salary and worsening working conditions?
There are many examples that hint to other motivations then simple greed. Over all, cooperation is the foundation of our society.