It’s the ultimate push to turn everything into the perfect Capitalist (not market-oriented) business solution: Getting paid for nothing
If your goal is to accumulate capital, and there are not outside forces regulating your worst impulses, you ultimately will create a class of legal-protected thieves, since the absolutely best and most risk free way to accumulate capital is to be given it in exchange for quite literally nothing.
Gambling is about as close to the platonic ideal as you can, but conquest by military force of political capture is also a very, viable route. Use the law to force people to buy your nothing and be protected for it, rather than being lynched when you steal someone’s products.
iocase@lemmy.zip 1 day ago
Mandate insurance that isn’t a crown corporation beholden to ratepayers is a perfect example. If you have mandated insurance for something, and that private insurance has a shareholder requirement to see growth every quarter, and the same amount of things are being insured, only one thing can happen:
Rates go up with denials
Payouts go down
Eventually you’re paying for insurance you know is worthless but it’s mandated by law.
Pieisawesome@lemmy.dbzer0.com 23 hours ago
Not really, a lot of insurers make the majority of their money from their investing.
iocase@lemmy.zip 23 hours ago
United healthcare