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Being able to engage and succeed in high risk endeavors was much more useful in the past than today. Getting pregnant and giving birth was a high risk/reward pr
by njarboe 9y ago
Being able to engage and succeed in high risk endeavors was much more useful in the past than today. Getting pregnant and giving birth was a high risk/reward proposition, much less so today. For men there were other avenues to engage high risk for high reward activities.
Being in the hunting party for your tribe and being the one to go in close with a spear to make the killing thrust on a large animal. A bit closer to today: a poor young man with no prospects goes off on a two-three year whaling voyage. If he makes it back he would have enough experience to sign up from another two-three year voyage and get a decent share. If he returned from that one he would have enough capital to set himself up with a home and family.
These days taking risk in the physical realm is highly discouraged and there is almost no highly rewarding outcomes for taking physical risk in wealthier countries. A crew hand on a crabbing boat can make good money, with low skills for high risk, but that is so strange we televise them on TV for entertainment. And even that type of work is going away as people decided it is too high risk and introduce individual fishing quotas instead of short open fishing seasons. Many more people do high risk activities unrelated to any productive endeavor (mountaineering, BASE jumping, wingsuit flying, etc). Maybe human space travel with open up high risk/high reward opportunities for people again.
- seibelj 9y agoOil rigs are a similar situation today - high pay, relatively high risk, and you'll be away from family living on the ocean for weeks or months at a time.
- stevenwoo 9y agoThe difference is a lot of jobs in oil are manual labor that do not require a college degree and can be high paying if one is willing to go to where the jobs are, even on land.
- alexpetralia 9y agoI would really hesitate to make sweeping generalizations comparing the risk-return profiles of different periods in history. This is like trying to summarize all uncertainty (risk) of the entire world at a point in time into a single number: futile and meaningless.
- njarboe 9y agoYes, generalizations can be very off. What is risk and what is return? From a genetic or cultural propagation and growth definition of risk and return, I think it is pretty clear that in 2018 America there are few activities where risking physical destruction (death) can pay off. You might agree that this is an unusual situation(last 50? years) in the history of humanity?
- jadbox 9y agoMaybe this is why the stock market has an appeal and younger people are investing in Bitcoin (only half joking here). It's a risk that humans are drawn to when physical risk is absent.