Global systemic risks and mitigation actions

econometrics
Published

December 12, 2021

Risk management is an important but complex activity. Every person has a different perception of the risks and calibrating such perceptions and agreeing on mitigation action plans is difficult and takes time. The challenge becomes immense when risks are beyond the area we control. Global risks such as climate change, nuclear and biological war, artificial intelligence seem to be completely out of our hand and that there is not so much to do. Still a number of organizations strive to get these risks in control and coordinate everyone’s efforts in reducing them, such as:

One example of such efforts to raise awareness on risks and triggering action is the Doomsday clock. This clock was created in 1947 and although this was already long time ago, in the aftermath of the second world war, its needle is getting closer to midnight than ever.

Answering the question What can ordinary people do to meet the challenges that the Doomsday Clock is warning about? the Bulletin of Atomic Scientists whose board includes 13 Nobel Laureates, recommends at least three things everyone can do:

  1. Get smart about the problems
  2. Share what you’ve learned with others
  3. Address your government representatives