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Volumn 41, Issue 1, 2010, Pages 73-91

Rebuilding trust in an era of widening wealth inequality

(1)  Lenard, Patti Tamara a  

a NONE

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EID: 84880514773     PISSN: 00472786     EISSN: 14679833     Source Type: Journal    
DOI: 10.1111/j.1467-9833.2009.01479.x     Document Type: Article
Times cited : (9)

References (70)
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    • Of course, insurance can also be purchased on the private market - and doing so enables us to ensure additionally against the effects of both bad brute luck and bad option luck. This is a distinction that Ronald Dworkin draws. Brute luck is "a matter of how risks fall out that are not... deliberate gambles," whereas option luck "is a matter of how deliberate and calculated gambles turn out - whether someone gains or loses through accepting an isolated risk he or she should have anticipated and might have declined." Insurance policies thus serve, in some sense, to render brute luck a matter of option luck: "the decision to buy or reject... insurance is a calculated gamble." See Ronald Dworkin, Sovereign Virtue (Cambridge, MA: Harvard University Press, 2000).
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