"Risks inherent in economic activities can be dealt with in a wide variety of ways. In addition to the commodity speculation and inventory management discussed in the previous chapter, other ways of dealing with risk include stocks, bonds, and insurance. There are also other economic activities analogous to stocks, bonds, and insurance which deal with risks in ways that are legally different, though similar economically."
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Thomas Sowell, Basic Economics, 4th ed. (2010), Ch. 13. Risks and Insurance
https://en.wikiquote.org/wiki/Risk
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