3 ms·
The optimum risk level is never zero. There comes a point where the cost of averting the risk is greater than the cost of the risk. Consider my standard examp
by LorenPechtel 2y ago
The optimum risk level is never zero. There comes a point where the cost of averting the risk is greater than the cost of the risk.
Consider my standard example of this: electric power. We insist nuclear plants be insanely safe, making them uneconomic, making us use far more dangerous sources of power instead.
- s1artibartfast 2y agoThe word optimum only makes sense in context of limitations and assumptions, which are subject to change. For the sake of argument, lets assume nuclear power is the safest option available given current technology. That doesnt mean that no improvement is possible and we should reject alternative design that are even cheaper and safer poses no benefit. Just because something is the best choice available to apple doesn't mean it is the best choice available to society.
- LorenPechtel 2y agoI'm not saying the situation is inherently static. Rather, it's the most extreme case I'm aware of where the effort to reduce risk actually increases it.