As nation reopens, a historic referendum on risk begins

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As they re-emerge from lockdown, Americans are in the middle of a national referendum on risk. tackettDC examines what this means — and how risk assessment in general shapes lives.

In this May 12, 2020 photo, customers walk past an open sign at Rubio's Coastal Grill on Tuesday, May 12, 2020, in Long Beach, Calif.

The questions have an infinite run. The answers are less a product of math and hard science than one of highly variable, and often emotional assessment of the benefit relative to the cost. What is a life worth? As cold as the question can seem, the federal government has been answering that question for years. When the government considers imposing a regulation, it makes a calculation called “the value of a statistical life” that puts a price tag on its people. It seemed rational when considering whether to require automakers to install seat belts, or require an industry to reduce pollution. But it hasn’t been used to address a public-health disaster.

The nature of the risk of returning to normal is in no way a normal form of risk-taking, or risk calculation. A farmer plants crops without any guarantee they will ever be sold at market. “Until human beings discovered a way across that boundary,” he wrote, “the future was a mirror of the past on the murky domain of oracles and soothsayers who held a monopoly over knowledge of accepted events.”

 

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tackettdc I Don't know if we can go outside;Conservative risks are in order at this time!The FUTURE belongs to wisest YOUNG FOLKS who assess all their immediate risks with the greatest of wisdom. Unfortunately, we've all had to grow very quickly-I'm hugging All of U and wish Uonly the BEST

tackettdc No, it is the FakeNewsMedia who is pushing the idea of risk and trying to scare people. All part of being Soros lapdogs

tackettdc Why don't we ask the actuaries? They know risk better than anyone.

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