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March 17, 2008

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ScotsToryB

We had a labour market. This was denegrated by the Labour Party introducing the minimum wage. To counteract the effects of their actions they allowed, via a third party(the EU), immigration to debase said minimum wage, so they behaved as the market predicted. Except it was called something else.

Succinctness, dontcha love it?

STB.

reason

Chris,
You haven't yet explained why these markets don't exist. Could it be, that nobody trusts that these markets would actually deliver (i.e. the time difference between payments and claims is so great that nobody trusts the counterparty to still be there, or to be honestly accountable.) This is a general problem with private insurance markets.

chris

Reason - that might be one reason. I gave some others here:
http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2006/08/shillers_clueba.html
Remember - you could have asked in 1980 why stock index futures didn't exist, even though they were obviously a good idea. Maybe these things just take longer than we appreciate.

gino

eh porco dio...

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