Quarterly Journal of Austrian Economics
Author:
Hans-Hermann Hoppe
Online Publish Date:
represents a beneficial (natural) development. Moreover, it allows for two innovations. On the one hand, it becomes possible to separate the act of transferring and money on the other. Unlike the owner of money, the owner of an insurance policy does not own a present but a future good. An insurance company may be unable say that a crime has been already committed now, at the moment when the insurance policy is sold, because the good sold by the insurance agency is a future one. In