I agree that it’d be extremely misleading if we defined “catastrophe” in a way that includes futures where everyone is better off than they currently are in every way (without being very clear about it). This is not what we mean by catastrophe.
I agree that it’d be extremely misleading if we defined “catastrophe” in a way that includes futures where everyone is better off than they currently are in every way (without being very clear about it). This is not what we mean by catastrophe.