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Books > Reference & Interdisciplinary > Communication studies > Decision theory > Risk assessment
Central banks do not print growth. The financial crisis was much
more than the result of an excess of risk. The same policies that
created each subsequent bust are the ones that have been
implemented in recent years. This book is about realistic solutions
for the threat of zero-interest rates and excessive liquidity. The
United States needs to take the first step, defending sound money
and a balanced budget, recovering the middle-class by focusing on
increasing disposable income. The rest will follow. Our future
should not be low growth and high debt. Cheap money becomes very
expensive in the long run. There is an escape from the central bank
trap.
This book is about realistic solutions for the threat of
zero-interest rates and excessive liquidity. Central banks do not
print growth. The financial crisis was much more than the result of
an excess of risk. The same policies that created each subsequent
bust are the ones that have been implemented in recent years. This
book is about realistic solutions for the threat of zero-interest
rates and excessive liquidity. The United States needs to take the
first step, defending sound money and a balanced budget, recovering
the middle-class by focusing on increasing disposable income. The
rest will follow. Our future should not be low growth and high
debt. Cheap money becomes very expensive in the long run. There is
an escape from the central bank trap.
Risk, Uncertainty, and Profit is a groundbreaking work of economic
theory, distinguishing between risk, which is by nature measurable
and quantifiable, and uncertainty, which can be neither be measured
nor quantified. We begin with an analysis of the functions of
profit, risk and uncertainty in the economy. Frank H. Knight
introduces his work with a discussion on profit and how there are
conflicts about its nature between various economic theorists. As
the title implies, the author's chief concern is the interplay
between making a profit, incurring risk, and determining if there
is uncertainty. Risks are different from uncertainty in that they
can be measured and protected against. For example a location
chosen for a factory or farm may have a measured risk of flooding
in a given year. Businesses, insurers and investors alike can be
made aware of this, and behave according to the quantified risk.
Risk, Uncertainty, and Profit is a groundbreaking work of economic
theory, distinguishing between risk, which is by nature measurable
and quantifiable, and uncertainty, which can be neither be measured
nor quantified. We begin with an analysis of the functions of
profit, risk and uncertainty in the economy. Frank H. Knight
introduces his work with a discussion on profit and how there are
conflicts about its nature between various economic theorists. As
the title implies, the author's chief concern is the interplay
between making a profit, incurring risk, and determining if there
is uncertainty. Risks are different from uncertainty in that they
can be measured and protected against. For example a location
chosen for a factory or farm may have a measured risk of flooding
in a given year. Businesses, insurers and investors alike can be
made aware of this, and behave according to the quantified risk.
Recent major earthquakes, tsunamis, hurricanes, floods and other
natural phenomena have resulted in huge losses in terms of human
life and property destruction. A new range of human-made disasters
have afflicted humanity in modern times; terrorist activities have
been added to more classical disasters such as those due to the
failure of industrial installations. It is important to understand
the nature of these global risks to be able to develop strategies
to prepare for these events and plan effective responses in terms
of disaster management and the associated human health impacts. The
selected papers contained in this book have been written by
academics and professionals and represent some of the latest
developments in the field.
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