The Government Will Foot the Bill!

This post was initially written in French https://freakonometrics.hypotheses.org/87308 Who has never heard this phrase? It comes back almost automatically as soon as a collective risk becomes visible. After a flood, after a wildfire, after a storm, after a drought that lasts too long, you hear, in passing conversation or in an op ed, a formula that sounds like both an obvious truth and a conclusion. That familiar The Government Will Foot the Bill, which I have kept as the title of this post....