> Second, governments and private companies should be looking at (socializing) mitigations that will keep risk within tolerable levels
The moral hazard is killer here. I fear that in practice what this means is that the rest of the US will end up bailing out the gormless Floridians who refuse to stop building McMansions on the coast. Insert the gif of Bugs Bunny cutting off Florida and letting it drift off into the Caribbean.
The moral hazard is killer here. I fear that in practice what this means is that the rest of the US will end up bailing out the gormless Floridians who refuse to stop building McMansions on the coast. Insert the gif of Bugs Bunny cutting off Florida and letting it drift off into the Caribbean.