Life is a risky business - which is why people take out insurance. But, confronted with an unexpected disaster, the state always has to step in.
Professor Ferguson travels to post-Katrina New Orleans to ask why the free market can't provide adequate protection against catastrophe.
His quest for an answer takes him to the origins of modern insurance in the early 19th century and to the birth of the welfare state in post-war Japan.
click here to see where to watch or .
Ready to Watch Channel 4 UK Documentaries, Season 2008, Episode 7?