Basic Economics, Risk, and The Induction Principle
Oct 24th, 2021 by Christ and Capital
Nathan's back and we're talking Thomas Sowell again. Specifically, the chapter on risk and insurance in his book Basic Economics. Three points / misunderstandings to address when talking about risk:
1.) Properly placed risk pressures economic actors to make the right decision. (Skin in the game)
2.) It determines the rate of return on your investment and wages
3.) Assurance (risk mitigation) is an industry that people take for granted
Colossians 1:17 - He is before all things, and in Him all things hold together.
All things Christ and Capital: ———————-SUBSCRIBE
Music By: SUNDANCE
Track Title: Persephone - Retro Funky
Creation: SUNDANCE (Remix)
My additions: clips from Jay Richards, Thomas Sowell, Walter Williams, Gary Vaynerchuk, Jeff Durbin, and Gary North.