Should Bankruptcy be allowed

S h o u l d B a n k r u p t c y b e a l l o w e d ?
If we think of the concept of bankruptcy the same way we think of insurance, it may help to put bankruptcy in perspective. Under normal circumstances, insurance is based on insuring a large number of people. Based on actuarial mathematics loss risks are predicted and allowed for; for example, how many people will be born, how many people will die, how many people will have accidents and so on… An insurance company expects to pay claims because accidents, deaths, catastrophes happen, and based on the probability of such they collect premiums. The basic model for an insurance company is simple, sell as many insurance policies as possible to broaden or reduce the risk and be prepared to pay claims. In an ideal world the insurance company supplies the amount of insurance risk demanded and the amount of insurance risks demanded is supplied. The company collects enough revenue to pay claims and make a profit. However, ... Read more: http://thinkandprofit.net/Should%20Bankruptcy%20be%20allowed%20%20by%20Trevor%20G%20McKenzie.pdf