The Privatization of Risk Reflection

When one weighs an action, whether to pursue it, the possible outcomes, etc., “risk” always seems to be a factor in that decision. Although certain actions are always risky, our capitalist society mitigates the potential risk for those who can afford it. The wealthy living in New Orleans could afford to evacuate the city when Katrina struck. They had insurance, which paid for what they lost, and the resources to reach out to others for help. We saw how the poor, elderly, and disabled suffered as consequence of the storm (and the human error/greed that did not protect against it), and unfortunately this is not an isolated incidence of how privatization reduces the risk for those who have, but does little to lessen risks for the have-nots.

When Hurricane Sandy struck the east coast, I was living with my family on Long Island. We were hit hard—we lost power for 14 days, our road was covered in branches, there was no gas to be had on the island—yet we had plenty of food and water (we could afford to stock up), we had access to hot water for showering through my dad’s job, and our insurance covered the damage to our property. Yet other families on Long Island were not so lucky: in the weeks after Sandy many people went hungry, were cold, and had no means of reaching out for help.

Free market societies are wonderful in that they allow people to reach nearly unlimited success, yet some things should not be privatized no matter the monetary gain. When it is a matter of life and death, such as important safety and security measures, no amount of money makes up for human suffering and loss of life.

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