July 16, 2008 12:00AM # Cavalcade of Risk #56 By [Michael F. Cannon](https://www.cato.org/people/michael-f-cannon) --- SHARE At the Cato Institute’s Health Policy Studies department we’re not sure which is riskier – being the leading advocate for free market healthcare or this Cavalcade. Nonetheless, we’re glad to present CoR #56. Enjoy at your own risk. **Health Risks** - [David Williams](http://www.healthbusinessblog.com/) knows that air [ambulance services are risky](http://www.healthbusinessblog.com/?p=1836) but wonders why. While the *New York* *Times* blames the hospitals for outsourcing to for-profit industry, Williams questions whether they could do better given their own poor safety record. - [Paul Levy](http://runningahospital.blogspot.com/) sends [the message he never hoped to send](http://runningahospital.blogspot.com/2008/07/message-you-hope-never-to-send.html) after his Harvard-affiliated teaching hospital is responsible for a wrong-site surgery. - [Bob Vineyard](http://insureblog.blogspot.com/) becomes a medical astrologist for one day. [Tell him your birthday](http://insureblog.blogspot.com/2008/06/whats-your-sign.html) and he’ll tell you your chance of developing schizophrenia, heart disease or cancer. - [Jason Shafrin](http://healthcare-economist.com/) floats the idea of a new currency for premiums. He thinks you would [trade your life for less risk](http://healthcare-economist.com/2008/07/11/would-you-give-up-some-life-expectancy-to-know-the-day-you-will-die/). - [Jim Harper](https://www.cato.org/people/jim-harper) shows us how the risks we take reveal [how much we value life](https://www.cato.org/2008/07/11/epa-your-life-is-worthless/). - [Jolyon Patten](http://www.rerisk.net/) says there’s a chance that [genetically modified (GM) foods are dangerous](http://www.rerisk.net/?p=199) to your health. - [John Leppard](http://www.healthcaremanumission.com/) shines a light on the other health insurance problem: [physician liability insurance](http://www.healthcaremanumission.com/2008/07/malpractice-liability-other-health.html). - Guest blogger Brian Poncelet at [Million Dollar Journey](http://www.milliondollarjourney.com/) gives a well-researched analysis of [critical illness insurance](http://www.milliondollarjourney.com/risk-management-critical-illness-insurance.htm). - [Raag Vamdatt](http://www.raagvamdatt.com/) dissects the anatomy of an [accident and personal injury policy](http://www.raagvamdatt.com/Article137.html) from Tata AIG General Insurance Company of India. - [Vera Lang](http://besafeinsure.com/) asks us to look starboard and [play it safe on the water](http://besafeinsure.com/ensure-you-wear-your-life-jacket-on-your-boat/). - [Jonathan Pleztke](http://www.besthealthinsurancebook.com/blog/) breaks down the Medicare puzzle [piece-by-piece](http://www.besthealthinsurancebook.com/blog/2008/07/07/medicare-whats-covered-and-whats-not/). - [Yours truly](https://www.cato.org/people/michael-cannon) discusses the risks of letting [religion](https://www.cato.org/2008/07/07/the-church-of-universal-coverage-becomes-self-aware/) [guide](https://www.cato.org/2008/07/07/still-dont-think-universal-coverage-is-a-religion/) [health care](https://www.cato.org/2008/07/08/just-a-few-more-feet-then-ill-stop-digging/) [reform](https://www.cato.org/2008/07/09/massachusetts-opts-to-keep-digging/). Corporate Risks - [Nancy Germond](http://www.allbusiness.com/4974114-1.html) provides managers with a list of strategies to [mitigate the risk of “brain drain”](http://www.allbusiness.com/labor-employment/labor-sector-performance-labor-force/10175180-1.html) at your company. - [Stephanie Balaouras](http://blogs.forrester.com/srm) points out that companies often overlook [the risk of power outages](http://blogs.forrester.com/srm/2008/07/power-outages-a.html), which cause more downtime that hurricanes, tornados or earthquakes. - [Leon Gettler](http://www.soxfirst.com/) cannot understand why companies are ignoring [environmental risk](http://www.soxfirst.com/50226711/clueless_on_environmental_risk.php). - [Joe Kristan](http://www.rothcpa.com/taxupdates.php) gives a [technical explanation](http://www.rothcpa.com/archives/003808.php#003808) of a new IRS ruling on how life insurance premiums and proceeds affect the ability of S corporations to make non-taxable distributions. **Personal Financial Risks** - [The Silicon Valley Bogger](http://www.thedigeratilife.com/blog/) is worried about the risks of [money market funds](http://www.thedigeratilife.com/blog/index.php/2007/12/04/where-should-you-put-your-cash-5-steps-to-safety/). Is your $$ safe in one? Read and see. **Ethical Risks** - [Jon Coppelman](http://www.workerscompinsider.com/) has a gnawing [case study in political corruption](http://www.workerscompinsider.com/archives/000906.html): Zimbabwe, where the danger of running a legitimate risk management business is more real than the risks you manage. **The Risk of Progress** - [SocProf](http://globalsociology.edublogs.org/) argues that modern progress is making ours a [“risk society.”](http://globalsociology.edublogs.org/2008/07/11/the-bhopal-disaster-and-world-risk-society/) This might be bad news for the world. But it’s good news for the Cavalcade. There is nowhere to go but up as we progress toward CoR #57 at the [Sentinel Effect](http://sentineleffect.wordpress.com/) in two weeks. Until then, happy risk-taking. ##### Related Tags [General](https://www.cato.org/general), [Health Care](https://www.cato.org/health-care) [![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/).