Bahn's Law of Rocketry: Amateurs talk Propulsion, Professionals Talk Insurance.

Finally, in regard to those who possess the largest shares in the stock of worldly goods, could there, in your opinion, be any police so vigilant and effetive, for the protections of all the rights of person, property and character, as such a sound and comprehensive education and training, as our system of Common Schools could be made to impart; and would not the payment of a sufficient tax to make such education and training universal, be the cheapest means of self-protection and insurance?

I am particularly concerned to determine the probability of causes and results, as exhibited in events that occur in large numbers, and to investigate the laws according to which that probability approaches a limit in proportion to the repetition of events. That investigation deserves the attention of mathematicians because of the analysis required. It is primarily there that the approximation of formulas that are functions of large numbers has its most important applications. The investigation will benefit observers in identifying the mean to be chosen among the results of their observations and the probability of the errors still to be apprehended. Lastly, the investigation is one that deserves the attention of philosophers in showing how in the final analysis there is a regularity underlying the very things that seem to us to pertain entirely to chance, and in unveiling the hidden but constant causes on which that regularity depends. It is on the regularity of the main outcomes of events taken in large numbers that various institutions depend, such as annuities, tontines, and insurance policies. Questions about those subjects, as well as about inoculation with vaccine and decisions of electoral assemblies, present no further difficulty in the light of my theory. I limit myself here to resolving the most general of them, but the importance of these concerns in civil life, the moral considerations that complicate them, and the voluminous data that they presuppose require a separate work.

I couldn’t help picturing [the Steady State universe] as a sort of 1950s advertisement, with a pipe-smoking father sitting comfortably in his living room, next to the radiogram, with a wife knitting submissively in the background, and a small boy playing with Meccano on the carpet. The father would remove his pipe and twinkle knowledgeably as he said “Of course, I’m with Steady State Insurance,” and a caption underneath would say “You Know Where You Are With a STEADY STATE Policy.&rdquo.

The companies that can afford to do basic research (and can't afford not to) are ones that dominate their markets. … It's cheap insurance, since failing to do basic research guarantees that the next major advance will be oened by someone else.

[Decimal currency is desirable because] by that means all calculations of interest, exchange, insurance, and the like are rendered much more simple and accurate, and, of course, more within the power of the great mass of people. Whenever such things require much labor, time, and reflection, the greater number who do not know, are made the dupes of the lesser number who do.