Another Look at Insurance Profits
Ted links to a CJ&D complaint that insurers are making profits. It is hard to believe that we are talking about this. Under our economic system profits are good thing. Profit attracts capital, firms enter, and competition is enhanced. What many people seem to think is that profits are an extra and that this extra is an immoral extraction of money from consumers. Of course, it is possible, that collusion among the providers might lead to extraordinary high profits. In that case the extr
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