The Argument for Government as Insurer
Democracy NerdMay 05, 202400:03:45

The Argument for Government as Insurer

In 1752, Benjamin Franklin helped found the Philadelphia Contributionship, one of the first insurance companies in America. However, the non-profit insurance model offered by the Contributionship proved to be inefficient, due to the reluctance of members paying premiums.

In this excerpt from "Democracy Nerd," host Jefferson Smith speaks with Hannah Farber, history professor from Columbia University and author of "Underwriters of the United States: How Insurance Shaped the American Founding," discuss the failings of the Philadelphia Contributionship's non-profit insurance model, how private insurance companies increase profit the less consumers use their product, and how these two combine to make the case of the government as an insurer.

Watch the whole discussion here: https://www.youtube.com/watch?v=NijYbBGW6yk

Listen to the podcast & find previous episodes on the Democracy Nerd website: https://democracynerd.us/

Follow on Threads: @democracy_nerd
Follow on Facebook: https://www.facebook.com/DemocracyNerd/
Follow on Instagram: https://www.instagram.com/democracy_n...
Follow on TikTok: @democracy_nerd
Follow on Mastodon: @democracy_nerd
Follow on Post: https://post.news/@/democracy_nerd
Follow on Substack: https://democracynerd.substack.com/
Democracy Nerd's LinkTree: https://linktr.ee/democracynerd