This Magazine

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The economics of catastrophe

This Magazine Staff

The new blog by Gary Becker and Richard Posner is one of the smartest things on the net. Two guys with enormous brains writing mini-essays at each other on the major issues of the day. This week, it is catastrophic risk.
The main question they adress: In the case of low-risk/high-loss disasters, is it better to spend money on warning and prevention, or on insurance against the inevitable losses?
Great stuff.

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