Insurance

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Manage episode 171650720 series 1303176
By Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio streamed directly from their servers.
Legally and culturally, there’s a clear distinction between gambling and insurance. Economically, the difference is not so easy to see. Both the gambler and the insurer agree that money will change hands depending on what transpires in some unknowable future. Today the biggest insurance market of all – financial derivatives – blurs the line between insuring and gambling more than ever. Tim Harford tells the story of insurance; an idea as old as gambling but one which is fundamental to the way the modern economy works. Producer: Ben Crighton Editors: Richard Knight and Richard Vadon (Image: Lloyds Coffeehouse, Credit: Getty Images)

55 episodes available. A new episode about every 15 days averaging 9 mins duration .