Practical Precaution

Mark Jablonowski

Chapter 3 in Precautionary Risk Management, 2006, pp 38-50 from Palgrave Macmillan

Abstract: Abstract Actually, the way toward making precaution “workable” may lie in some clarifications, and perhaps some simple modifications, to the principle of precaution. For example, the applicability of the principle, and hence the potential for dilemma, is greatly extended if we insist in the absolute certainty of safety in everything we do. A workable approach to precaution suggests we reasonably relax the criteria of perfect, or absolute, certainty in making precautionary decisions. In addition, many have suggested that at least some element of “costs” may need to enter the principle, in terms of a rough proportionality of precautionary spending with regard to benefits. Ultimately, however, a deeper appreciation of precaution may require that our philosophy with regard to risk, and the activities that expose us to risk, change. This in turn requires a greater appreciation of progress and its implications (good and bad). We will explore these ideas here.

Keywords: Lightning Strike; Precautionary Approach; Danger Zone; Catastrophic Risk; Precautionary Action (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-62765-9_3

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DOI: 10.1057/9780230627659_3

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