Insurance: property, life, and health. Required preparation for class:
Ferguson, The Ascent of Money, Chapter 4
Reflect on the following questions as you read this chapter: What are the theoretical essentials that make insurance â€œworkâ€? Why is insurance described as â€œwhere the risks and uncertainties of life meet the risks and uncertainties of financeâ€? What pushed England and Japan towards the â€œwelfare stateâ€? Why have the results been so different, in those countries, and in Chile? What financial instruments resemble the risk mitigating aspects of insurance?
Palazzo, Unethical Decision Making, â€œThe Power of Strong Situationsâ€