Posted On: April 4, 2007, 7:51 am CDT

Posted By: Thanks

As has been pointed out, a doctor has shown himself to be less risk averse than the kitchen help because he has much more invested in his life than the dishwasher has. The dishwasher goes to jail for brawling or D&D, and gets another dishwashing job when he gets out. The doctor is ruined. The same goes for driving risks. Plus, the cost of the car is not only accounted for by the premium, but is indicative of the owner's care in accruing and prudently managing money.

There is such a thing as envy, its corellary is guilt. A) I envy the doctor so I want him to suffer. B) I feel guilty because I have things the dishwasher can't afford. Since I am not going to give the dishwasher anything, I must force the doctor to pay something to the dishwasher, which in some perverse way I do not quite understand, makes me feel better.

Insurance companies are not in business to lose money. Nor do they have any incentive to invent crazy criteria for underwriting that has no real-world benefit to their business. Their mistakes are unforgivingly corrected by market forces.

Forcing people's business decisions to comport with liberal political values is always bad business for everyone.