Episode 284 - Beware the Precautionary Principle

Freeman Dyson in the report from the 2001 World Economic Forum defined the Precautionary Principle as that if some course of action carries even a remote chance of irreparable damage to the ecology, then you shouldn't do it, no matter how great the possible advantages of the action may be. You are not allowed to balance costs against benefits when deciding what to do. In this episode, Ron and Ed will speak about the implications of the precautionary principle on society in general and on business innovation in specific. While COVID19 was (ironically) the catalyst, this is a topic that needs all of our attention and not just during this current situation.