insurance is a risk pool for a homogeneous group turning unpredictable individual losses to calculated average losses.
(which doesn't apply to things like socialized health care for many, many reason...
Ive read mises, applies free market principles to central banking.
An insurer holds only a fraction of its liabilities... fiat banking in reverse. Math doesnt lie.
An insurer holds only a fraction of its liabilities... fiat banking in reverse. Math doesnt lie.