> Being forced to pay for something to share the cost across a set of people is the definition of socialized.
For some definition of socialized. I would argue that a transaction between two private entities in which there might be a minimum ceiling for some items is not “socialized”. Even if the minimum ceiling is enforced by the state.
We can argue all day about definitions but at the end of the day nothing is black and white: even if we agree that there’s some “socialized” extent in the private car/home insurance markets I think most would still not say that it is “socialized” in general.
Regarding flood insurance, yes, agreed, there’s no natural law that says that flood insurance must be a profitable business (hello global warming!) so the government steps in.
For some definition of socialized. I would argue that a transaction between two private entities in which there might be a minimum ceiling for some items is not “socialized”. Even if the minimum ceiling is enforced by the state.
We can argue all day about definitions but at the end of the day nothing is black and white: even if we agree that there’s some “socialized” extent in the private car/home insurance markets I think most would still not say that it is “socialized” in general.
Regarding flood insurance, yes, agreed, there’s no natural law that says that flood insurance must be a profitable business (hello global warming!) so the government steps in.