The Freakonomics Radio Book Club cover image

18. “Insurance Is Sexy.” Discuss.

The Freakonomics Radio Book Club

CHAPTER

Is Social Security Really Insurance?

In many cases, people who pay in do not get paid out in anything like the proportion they pay in. So is that really insurance? That's a great question. You can think of that as redistribution or you can think of it as insurance behind the veil of ignorance. None of us know exactly when we're going to die or when our job's going to end. And so there is real insurance value.

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