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Stability used to be assumed. A steady paycheck. A predictable rent. Healthcare that did not threaten financial collapse. Work schedules that could be planned around. Institutions that absorbed volatility rather than exporting it. That assumption is disappearing. In The Stability Premium, Leon Hartmann argues that modern economies have quietly transformed security from baseline condition into priced asset. Risk has moved downward. Predictability has moved upward. Stability now belongs disproportionately to those who can afford to insulate themselves from volatility. This book is not about income alone. It is about exposure. Across housing, labor markets, healthcare, education, and the subscription economy, Hartmann shows how institutions once structured to pool risk increasingly pass it to individuals. Fixed contracts become premium products. Volatility becomes monetizable. Predictability becomes a dividing line between classes. The result is a society where many people earn more than previous generations yet feel structurally exposed. The Stability Premium reframes modern economic life through a single lens: who absorbs risk, and who purchases insulation. Clear, rigorous, and analytically restrained, this book offers a structural explanation for a widespread anxiety that rarely receives precise language. Stability is no longer neutral.
It is priced.
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