"The health of a capitalist system depends on setting a balance between its insurance features and its risks, between solidarity and competition, savings and investment. Capital can grow no better without cooperation and security than it can without the spurs of risk and rivalry. Perhaps the central secret of capitalist success is its ability to convert the search for security, embodied in savings, into the willingness to risk, embodied in enterprise. The financial markets enact this crucial alchemy, turning fear into growth, caution into creativity, timidity into entrepreneurship, and the desire to conserve into the drive to build and innovate. This is a key capitalist industry, processing the abundant raw materials of anxiety about the future into the rare assets of faith in it and provision of productive facilities for it. ...Even primitive societies had insurance systems. Acts of thrift in primitive life, as in modern society, are more often motivated by the need to survive trouble than by the desire to invest. ...During the first decades of independence, the United States chartered more insurance companies than any other kind of firm outside the field of transportation. ...Insurance can cultivate the good faith that is the prerequisite of enterprise."