Nuclear energy is very risky, itis probably riskier than anything else. But it can be managed using risk management picniques. Even if you only have a very small probability of harming, youknow that there's cause may be carven yet. Told ou onipisciple every day but exercise it in its local form. Mean, becomes a localo pecatin principle, exercise it before people board a plane.
Nassim Nicholas Taleb, author of Antifragile, Black Swan, and Fooled by Randomness, talks with EconTalk host Russ Roberts about a recent co-authored paper on the risks of genetically modified organisms (GMOs) and the use of the Precautionary Principle. Taleb contrasts harm with ruin and explains how the differences imply different rules of behavior when dealing with the risk of each. Taleb argues that when considering the riskiness of GMOs, the right understanding of statistics is more valuable than expertise in biology or genetics. The central issue that pervades the conversation is how to cope with a small non-negligible risk of catastrophe.