re: #84 Dark_Falcon

There’s a solution to that: The US government should insure those oil tankers we need to pass. It might need new legislation, though I think if it were the Revolutionary Guards who sank a tanker it could be classed under Terrorism Risk Insurance.

Force Majeure, there is a good reason that insurance companies simply refuse to cover shit like that. What you propose is basically moral hazard personified, and as such the absolute antithesis of what we’d normally call economic conservatism. Except in modern practice this kind of “privatize the profits and socialize the risks” seems to be the conservative answer to everything. Why is that?