Friction is growing

Friction is growing

«Insurance sounds like a boring topic, until you think about it a little: it’s the (enormous) part of the economy that’s assigned to understand risk.» And it’s that part of the economy that is starting to make a difference in the climate crisis. Because when things get risky, insurance makes them expensive. «The enormous momentum of the global economy is beginning to run into the enormous friction of climate change.»

From Weekly Filet #473, in January 2024.

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