NASA Counts 4,700 Potentially Hazardous Near-Earth Asteroids

It always puzzles me how people invent all sorts of imaginary flaws in markets. For example, I got into this long argument [slashdot.org] with someone who was claiming that "free markets" created class structures and an exploited class on the bottom, but ignoring that both societies do that just fine on their own and markets actually help reduce such stratification. It's nonsense, but of a sort that's fairly pervasive in society.

This complaint above is however of the biggest legitimate flaw of a market. Namely, if it doesn't trade on the market, it doesn't exist in the viewpoint of traders on the market. While there are (as I gather) a few businesses which can and do legitimately offer insurance or whatnot against asteroid impacts, the cost of such insurance is way out of line with the risk.

It's much cheaper at this time to self-insure, that is, use your own resources to prepare against such low probability events.

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