Losing your money to a failed company is a cost of doing business sometimes, it's a risk everybody takes when they purchase things in advance. The company/owner would owe a refund for the service not provided due to company collapse, whether or not they can pay that is another matter and should be accepted as part of the risk. There's no such thing as risk free business and attempts to remove the risk inevitably remove part of the value too.
> Losing your money to a failed company is a cost of doing business sometimes, it's a risk everybody takes when they purchase things in advance. The company/owner would owe a refund for the service not provided due to company collapse, whether or not they can pay that is another matter and should be accepted as part of the risk. There's no such thing as risk free business and attempts to remove the risk inevitably remove part of the value too.
I think we as a society have deemed it unacceptable to hold consumers accountable for company selection in some specific industries. Banking and healthcare come to mind. We certainly don't think it's okay for depositors to lose their shirts over a banker's risk taking and we hold that value to such a degree that in America at least it has been codified into law.
I know at least NJ mandates a separate fund that insurers must pay into to protect against this instance.
Businesses having separate funds to protect against it is a good idea but it shouldn't be mandatory to have one, only to tell the consumer whether there is one. I imagine most consumers would happily pay a little more and choose the company with one than the one without.
For example, healthcare services should be considered essential, and therefore, should not be left up to the market forces, as these forces would mean that some part of the population who is not profitable to serve will not get served.
in such cases, the best option is a socialized mechanism (such as universal healthcare, paid for by taxation). For some reason, the US of A is very much against this idea. It's as if these ideas have been tainted with the smear campaign of communism and red-scare.
Leaving healthcare to 'market forces' is nothing more than leaving doctors alone to do healthcare as they please and for a profit that they earn, rather than using government to force prices down and make them work for less than they're worth.
I'm not opposed to a health care option provided by government, but it has to be optional both to pay in and use in order to be a morally sound imo.
On the other hand, I would concede that one would ask, "But where do you draw the line?" And I would answer, "Society collectively draws the line." Which is evidenced by our collective evolution of social programs provided by the government (which tend to be more expansive rather than less so).
Fwiw I am not in disagreement about market forces being particularly maladapted in dictating the pay of specialists (especially considering that many laypeople can't even accurately price nonspecialist time let alone a specialist's time or actual value)
I think we may have a different conception of what is determined as a right: I tend to conceptualise rights as inherent, things required to allow a human to live to the best of their ability. When we think of rights in this way, they aren't things that can be given; they can only be taken away or protected. If I build a hut when I'm stranded on a desert island, that's my hut and I shouldn't be forced out of it and no one else stranded on the island has a "right" to the product of my labour. If I spend time and effort gathering food, the other people on the island who haven't put that effort in don't deserve some of that food just because they're hungry. Now if I give them some out of pity or for the benefits of keeping a group around me, that's a different story than if they take it by force. If they take it by force, they've committed a moral wrong and violated the right required to live for me.
My approach is unforgiving but its from the perspective of individuals and their property rights. It doesnt exclude empathy and willing charity, just excludes forced empathy and charity.