This blog contains posts and comments written by students in Dr. Tufte's economics classes at Southern Utah University.
3/31/2006
Sad Commentary
As I was reading a March 21, 2006 post entitled "Terrorism Insurance" from the Hypothetical Bias Blog, I experienced somewhat of a rude awakening. While I am all too aware of the horrific acts of terrorism ocuring in Iraq, and all over the world, it had never occured to me that there would be a product offering available for terrorism insurance. However, after reading the article, and becoming aware of such a product, I can see where there would be a genuine demand for it. Sadly, the Iraqi man featured in the post felt that purchasing terrorism insurance was a necessity for him because of his inherent amount of risk due to his job, and family status. It is such a sad commentary on the globe at large that violence, terrorism, and hate has become so widespread that markets are having to provide consumers protection in the form of insurance for terrorism.
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2 comments:
Here's what I wonder: if you can't get terrorism insurance easily in places where the U,S. isn't involved militarily, is that a good sign or a bad sign?
Dr. Tufte mentioned that “if you can't get terrorism insurance easily in places where the U.S. isn't involved militarily, is that a good sign or a bad sign? I believe it to be both. It is sad that insurance is only an issue where U.S. military is located. The involvements of the U.S. in these foreign affairs are sad if they are not justified. The problem lies on figuring out whether our actions are justified or not.
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