Probability and Insurance | Hans-Hermann Hoppe

[NixontheVixn]

I really wish this guy was still at UNLV.

[aretlev]

I didn't know Mises had a brother.

[ambagoli]

yea, he came from a very mathematically and scientifically proficient family. In Mechanics, a Von Mises Stress is an average stress acting in an element in a specimen.

[theoriginalanomaly]

Unemployment insurance is a little different. You cannot collect unemployment if you quit or do something to get fired. Only if work ceases and you are laid off. The business' pay the premium, and the more people they let go, the higher the premium. So simply it is a forced savings program paid for by the employer, and the employers do share risk in some ways. Also, unemployment has a set amount of benefit based on what is paid in. These risks are possible to calculate and adjust. Also, it sucks

[zombiedude]

So weather forecasts being innacurate could be because they don't follow probability calculus.

[theoriginalanomaly]

@kolarma11 Sure, but you could also be fired in that case. Why wouldn't they just fire you instead so they wouldn't need to pay the unemployment? The company pays a higher rate based on how many people it lays off, and has to continue to make the premium payment while the employees are getting the unemployment. So firing an employee and hiring a new one would be preferable if you are a bad employee.