Risk Analysis – Global Warming

This video, shared with me by Nate, basically conducts a risk analysis of global warming by constructing a matrix of possible future states and human actions.

Risk is usually minimized through diversification–NASA uses redundant engineering, rock climbers attach themselves to the vertical world with multiple passive and active devices, portfolio managers invest in dissimilar financial vehicles. Unfortunately, we do not have multiple planets from which to choose a home.

Consequently, considering the global warming issue with a risk averse attitude makes more sense for survival than does an economic income maximization attitude. Or so it seems to me.


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