Risk Management and Insurance

It is better to first get the right people on the bus, the wrong people off the bus, and the right people in the right seats, and then figure out where to drive.

New Deal liberalism broke with progressivism in many if not most respects. Progressives wanted technocratic economic planning. By the 1940s, New Dealers dropped planning for Keynesianism. Most progressives were nativists who supported immigration restriction on ethnic or cultural grounds. New Deal liberals celebrated the melting pot and liberalized American immigration laws in the 1960s. Woodrow Wilson resegegrated Washington. Lyndon B. Johnson signed the Civil Rights Act and the Voting Rights Act. Franklin D. Roosevelt created Social Security and Johnson created Medicare. Wilson opposed national health insurance.

The brutality of a man purely motivated by monetary considerations … often does not appear to him at all as a moral delinquency, since he is aware only of a rigorously logical behavior, which draws the objective consequences of the situation.