economics

Mar
16
Wealth ($) is on the x axis and U(wealth) is on the y axis.

Value creation is possible and insurance is a great example of it

Insurance is a purely financial arrangement that creates positive value, which is kind of surprising. Just by agreeing that one person will sometimes pay money to another, both can end up better off than before. I look at insurance as a value creator and at value creation more generally.
19 min read