• 8 Posts
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Joined 6 months ago
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Cake day: March 21st, 2024

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  • Assuming that demand for car insurance is artificially inflated because people are mandated to purchase it, wouldn’t an open market still drive down prices due to competition? Another market that has even more demand is food. People aren’t even legally mandated to buy food. They either buy it or die. There may be a few people that can grow enough of their own food to sustain themselves without ever purchasing it, but I would guess that there are more people that make enough money to live without insurance than people that grow all of their own food. Despite that, food seems to be relatively affordable. If one food vendor is charging too much or I don’t like their product, I can easily go to a competing food vendor and purchase there. Adam’s invisible hand then ensures that the market provides an efficient quality-to-price ratio. I’m not arguing it’s perfect, but we don’t hear about how food stores are ripping us off as much as we do about insurance companies. My argument is that despite there being inflated demand, the insurance companies still have to compete with each other for those customers, which would have a considerable impact on price. Let’s say we all buy cars that are valued at $20k. If one company is providing insurance for $100/month and the other company is charging $150/month, everything else being equal, the former would earn more customers.

    Also, since demand is high, I think it would LOWER rates. Here’s why. If insurance was not mandated, then the people that would get it would include everyone that thinks they may need it. The ones that think they will not use it will avoid wasting their money since they’re not receiving anything in return. That means that there will be less contributions and more expenditures from the pooled money, making insurance more expensive. Mandate insurance makes it so that even the people that will not use it contribute to the pool, so everyone’s costs are lower than otherwise. Of course, this would only happen in a market that allows for competition. Otherwise, if there were only one insurance provider, they would be in a position to price gouge everyone since the only other option would be to break the law.





  • I looked into the things that were done to try to keep Trump in office. They seriously tried to conduct a coup. No doubt. It’s not ambiguous. It wasn’t a wacky protest that Trump kind of got riled up and it went too far. Trump wasn’t the only one involved. They didn’t try to take advantage of a loophole. They straight up tried to overturn the election using corruption, intimidation, coercion, and violence. It didn’t fail because it was a bad attempt. It was stopped by many people that had integrity. We were this close 🤏 to losing what we have of democracy. The fact that Trump et al. isn’t in jail or worse is a sign of how infected our system is.

    Someone please prove me wrong. I want to be wrong, but I can’t convince myself that I am.