|
02-28-2018, 06:25 PM | #1 | |
I think this line's mostly filler.
Join Date: Jan 2003
Location: DC
Posts: 13,575
|
This is fun.
Quote:
__________________
_________________ |...............| We live in the nick of times. | Len 17, Wid 3 | |_______________| [pics] |
|
02-28-2018, 07:02 PM | #2 |
maskless: yesterday, today, tomorrow
Join Date: Jan 2009
Posts: 2,162
|
"No, it's the actual context."
No, that's Dana's conventional interpretation, fostered by official statements from providers, and the elected. It may actually spread the risk or allow it to be shared, but that's not the reason for it, just the coincidental byproduct. But, it's an interpretation. |
03-01-2018, 04:43 AM | #3 | ||
We have to go back, Kate!
Join Date: Apr 2004
Location: Yorkshire
Posts: 25,964
|
Quote:
Do you know the history of insurance? I do - and sharing the risk was the original purpose of insurance. The big bucks are the byproduct of that development. You talk about your tolerance for risk. That's fine - it's up to you if you want to insure your risk. The mandatory nature of motor insurance is because of the third party element.
__________________
Quote:
|
||
03-01-2018, 06:36 PM | #4 | |
Encroaching on your decrees
Join Date: Feb 2004
Location: An island within the south-west coast of Scotland
Posts: 7,016
|
Quote:
She’s right you know. I studied the history of insurance, too. Lloyd’s coffee shop, the sharing of risk and the sharing of gain from the actual (seafaring) adventures .... Sent from my iPad using Tapatalk
__________________
Living it up on the edge ... of civilisation, within the southwest coast of |
|
03-01-2018, 10:04 PM | #5 |
The future is unwritten
Join Date: Oct 2002
Posts: 71,105
|
Yeah, Loyd's is the granddaddy of insurance, but not the premise.
It started when primitive people started banding into groups/villages, one for all, all for one.
__________________
The descent of man ~ Nixon, Friedman, Reagan, Trump. |
03-02-2018, 06:56 AM | #6 |
still says videotape
Join Date: Feb 2001
Posts: 26,813
|
Those dirty commies...
__________________
If you would only recognize that life is hard, things would be so much easier for you. - Louis D. Brandeis |
02-28-2018, 07:29 PM | #7 |
maskless: yesterday, today, tomorrow
Join Date: Jan 2009
Posts: 2,162
|
tw = rabid, agency-killing, communitarian.
Identified. Easy-peasy. |
03-02-2018, 07:43 AM | #8 |
™
Join Date: Jul 2003
Location: Arlington, VA
Posts: 27,717
|
He's an idiot. Truly an idiot.
|
03-02-2018, 08:17 AM | #9 |
maskless: yesterday, today, tomorrow
Join Date: Jan 2009
Posts: 2,162
|
"Do you know the history of insurance?"
Sadly, no...the extent of my knowledge (and interest) is that Ben Franklin started an insurance company. # "sharing the risk was the original purpose of insurance. The big bucks are the byproduct of that development." I must disagree. The original (and current) purpose of insurance (in a free, or somewhat free, market) is to make money for the company owner(s). Providing a mechanism for 'sharing the risk' is the means by which that money is made. 'Big bucks' is not a byproduct but is the sought after goal. Last edited by henry quirk; 03-02-2018 at 08:23 AM. |
03-02-2018, 08:20 AM | #10 |
maskless: yesterday, today, tomorrow
Join Date: Jan 2009
Posts: 2,162
|
"He's an idiot. Truly an idiot."
Why?
|
03-02-2018, 09:21 AM | #11 | |
Read? I only know how to write.
Join Date: Jan 2001
Posts: 11,933
|
Quote:
How ironic. That is also called communism. When socialism breaks down, the Central Committee of the Communist Party is only interested in their wealth and power. henry quirk has just endorsed communism. Go figure. The purpose of every company is its product. Profits are only a reward for successfully doing its purpose. That has always been fundamental to this America economy. |
|
03-02-2018, 11:39 AM | #12 |
maskless: yesterday, today, tomorrow
Join Date: Jan 2009
Posts: 2,162
|
"The purpose of every company is its product."
Nope. The purpose of every company is profit. Product or service is the means to profit. This is the basis of free enterprise (which I endorse and you despise).
Last edited by henry quirk; 03-02-2018 at 12:24 PM. |
03-02-2018, 05:21 PM | #13 | |
Read? I only know how to write.
Join Date: Jan 2001
Posts: 11,933
|
Quote:
GE did everything to maximize profits. Therefore GE product continue to lose markets. Siemens literaly gorges on GE's diminishing markets. No problem. A Central Committee (top management) is still reaping big bonuses. Companies that worry about their products are this nation's benchmark industries. Intel ignores profits. Intel's success is based in their product - Moore's law. Intel literally risked the entire company many years ago because their next generation processors would not meet Moore's law. Their risky commitment worked. So Intel processors were cooler. AMD (that wanted to make profits) was losing money and market. When a company wants profits, then short term profits are followed by massive losses. And the central committee of the communist party (top management) pads their bonuses. This nation's lesser productive companies are also noteworthy for highest paid corporate executives. Meanwhile, companies that innovate - make better products - then have massive profits. Reality requires many paragraphs. And does not include any "Donald Trump" style insults. So an extremists (ie henry quirk) cannot grasp it. Only an extremists would insist what was first told by the 'central committee of the communist party' must be the truth. A soundbyte describes this: brainwashing. The purpose of every company - even non-profit ones - is always about its product. |
|
03-02-2018, 01:13 PM | #14 | ||
We have to go back, Kate!
Join Date: Apr 2004
Location: Yorkshire
Posts: 25,964
|
Quote:
I work for a 300 year old insurance company that began life as a fire insurance provider - the chap who started the company was inspired to start the venture by living through the great fire of London in which thousands of people lost everything they owned. The theory was this: for the very wealthy it was possible to rebuild and recover (partly because much of their wealth was held in banks) while the artisan and newly emerging middle classes could be completely wiped out by a single unforeseen event. And this basic principle is still true - if you are wealthy and your house burns down you have options to rebuild. If you are not wealthy (and most of us are not) then insurance stands in the place of wealth when disaster strikes. Sharing the risk is not a byproduct of the means to profit - it goes hand in hand. It is the means of making profit - and the means of making profit allows for the sharing of risk. It is (when not entirely corrupt - see health insurance where no single payer scheme exists) a social good. It allows people to take risks they might not otherwise take (spending on goods rather than saving every spare penny to set against the possibility of disaster) - it allows banks to take risks on people (mortgages) and people to take risks on business ventures (liability insurance) it allows smaller landlords to offer homes (rent cover schemes) and a host of other stuff. The notion that companies exist for one sole purpose is as untenable as the notion that people generally act on single motives.
__________________
Quote:
|
||
03-02-2018, 05:53 PM | #15 |
I love it when a plan comes together.
Join Date: Oct 2009
Posts: 9,793
|
That's certainly true of firearms manufacturers. Their purpose has always been to make a good product.
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|