AltInst: Legislation insurance

Damien R. Sullivan writes:
: > Why isn't there legislation insurance, to help business
: > hedge against changes in legislation?

Special case: I believe you can get insurance against nationalization
of your assets in Bananaland. In general, legislation insurance may
have to be handled discreetly offshore!

Hal Finney responds:
: It might be seen as immoral. Normally legislation is presented as
: addressing some inequity or evil. Allowing people to insure against
: such legislation would mean that they would benefit from the wrong
: they were previously engaged in.

But legislation has side-effects. As Mrs Clinton said, "I can't save
every undercapitalized entrepreneur" from the side-effects of her
pet scheme. The politicians would love such insurance if it silences
opposition from those who would otherwise suffer such side-effects.

Anton Sherwood *\\* +1 415 267 0685 *\\* DASher@netcom.com

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Received on Thu Apr 23 15:12:48 1998