Ensuring that Our Economies Remain Terror-Proof (July 2010)

Who should pay for the next major terrorist attack? In a world under budgetary pressure, where huge sums of private and public fiscal resources have been mobilized to cope with the financial crisis and a series of unprecedented natural and man-made disasters, governments and enterprises are not eager to assume more risks. Yet, when economic […]

Judgment Call on the Oil Spill (June 2010)

This technological and environmental catastrophe in the Gulf of Mexico illustrates the increasing degree of interdependence in today’s world. In financial terms, this means that numbers of organizations not only mis-manage their risks internally, but impose the negative consequences on others outside (notion of security externalities introduced in the book Seeds of Disaster, Roots of […]