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Friday, July 31, 2015

Nowadays, Health Insurance Isn’t Really Insurance

Due to Obamacare, my health plan has become something other than insurance. It is now, for the most part, nothing other than a wealth transfer scheme to benefit the politically connected over others.

In order to identify the difference between health insurance and government-mandated health care coverage, we can look to Human Action, in which Ludwig von Mises splits probability into class probability and case probability:

Class probability means: We know or assume to know, with regard to the problem concerned, everything about the behavior of a whole class of events or phenomena; but about the actual singular events or phenomena we know nothing but that they are elements of this class.

Case probability means: We know, with regard to a particular event, some of the factors which determine its outcome; but there are other determining factors about which we know nothing.

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3 comments:

  1. building collapse booth st must be those awesome bury rentals.

    ReplyDelete
  2. My wealth is being transferred $14000 dollars a year with a 20 to 30 percent increase this year

    ReplyDelete
  3. The conservatives said this would happen - just the way it is happening!

    ReplyDelete

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