Found this link this morning and thought it might prove to be of topical interest. http://worthwhile.typepad.com/worthwhile_canadian_initi/2012/12/the-macroeco.html
Some interesting discussions there. I suppose from our (actuarial) point of view, the more interesting questions would be was there a pensions or insurance industry in middle earth? I can't imagine any insurer or an"Erebor-Re" would have survived such a catastrophe as Smaug's arrival, or would dragons be a standard exclusion clause?