Environmental decision-making in recent decades has become increasingly dependent on scientific expertise. Grounded in universal principles of knowledge, these expert evaluations often depart from the assessments of ordinary members of the public. Whether the issue is nuclear power, genetic testing, food safety, or biodiversity, conservation lay people are increasingly charging experts with being ignorant of local contextual considerations. Scientists, as well as many policy-makers, in turn contend that the public is hopelessly irrational in gauging environmental risks. A growing group of social theorists has begun to take a keen interest in these disputes because risk captures central themes of late modernity. Increasing individualization, emerging new social movements, and declining public trust in key institutions are notions that loom large in these debates. Highlighting both theoretical and empirical perspectives, this volume brings together a distinguished group of environmental sociologists who critique and extend current thinking on what it means to live in a 'risk society'.

This book discusses many key topics in investment and risk management, the global economic situation and the shift in global investment strategies. It was largely written during the period of 2007-12, one of the most tumultuous times in global financial markets which called into question not only tenets of economic forecasting and also asset allocation and return strategies. It contains studies of how investors lose money in derivative markets, examples of those who did not and how these disasters could have been prevented. The authors draw some conclusions on the impact of the structural shifts currently underway in the global economy as well as how cyclical trends will affect these industries, the globe and key sectors. The authors zoom in on key growth areas, including emerging markets, their interlinkages and financial trends.The book also covers risk arbitrage and mean reversion strategies in financial and sports betting markets, plus incentives, volatility aspects, risk taking and investments strategies used by hedge funds and university endowments. Topics such as stock market crash predictions, asset liability planning models, various players in financial markets and the evaluation of the greatest investors are also discussed.The book presents tools and case studies of real applications for analyzing a wide variety of investment returns and better assessing the risks which many investors have preferred to ignore in the search of returns. Many security market regularities or anomalies are discussed including political party and January effects as is the process of building scenarios and using Kelly and fractional Kelly strategies to optimize returns.

In An Age of Risk, Emily Nacol shows that risk, now treated as a permanent feature of our lives, did not always govern understandings of the future. Focusing on the epistemological, political, and economic writings of Thomas Hobbes, John Locke, David Hume, and Adam Smith, Nacol explains that in seventeenth- and eighteenth-century Britain, political and economic thinkers reimagined the future as a terrain of risk, characterized by probabilistic calculation, prediction, and control. In these early modern sources, Nacol contends, we see three crucial developments in thought on risk and politics. While early modern thinkers differentiated uncertainty about the future from probabilistic calculations of risk, they remained attentive to the ways uncertainty and risk remained in a conceptual tangle, a problem that constrained good decision making. They developed sophisticated theories of trust and credit as crucial background conditions for prudent risk-taking, and offered complex depictions of the relationships and behaviors that would make risk-taking more palatable. They also developed two narratives that persist in subsequent accounts of risk—risk as a threat to security, and risk as an opportunity for profit. Looking at how these narratives are entwined in early modern thought, Nacol locates the origins of our own ambivalence about risk-taking. By the end of the eighteenth century, she argues, a new type of political actor would emerge from this ambivalence, one who approached risk with fear rather than hope. By placing a fresh lens on early modern writing, An Age of Risk demonstrates how new and evolving orientations toward risk influenced approaches to politics and commerce that continue to this day.

How have Americans confronted, managed, and even enjoyed the risks of daily life? Winner of the Ralph Gomory Prize of the Business History Conference “Risk” is a capacious term used to describe the uncertainties that arise from physical, financial, political, and social activities. Practically everything we do carries some level of risk—threats to our bodies, property, and animals. How do we determine when the risk is too high? In considering this question, Arwen P. Mohun offers a thought-provoking study of danger and how people have managed it from pre-industrial and industrial America up until today. Mohun outlines a vernacular risk culture in early America, one based on ordinary experience and common sense. The rise of factories and machinery eventually led to shocking accidents, which, she explains, risk-management experts and the “gospel of safety” sought to counter. Finally, she examines the simultaneous blossoming of risk-taking as fun and the aggressive regulations that follow from the consumer-products-safety movement. Risk and society, a rapidly growing area of historical research, interests sociologists, psychologists, and other social scientists. Americans have learned to tame risk in both the workplace and the home. Yet many of us still like amusement park rides that scare the devil out of us; they dare us to take risks.

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.

This major study develops a new account of modernity and its relation to the self. Building upon the ideas set out in The Consequences of Modernity, Giddens argues that 'high' or 'late' modernity is a post traditional order characterised by a developed institutional reflexivity. In the current period, the globalising tendencies of modern institutions are accompanied by a transformation of day-to-day social life having profound implications for personal activities. The self becomes a 'reflexive project', sustained through a revisable narrative of self identity. The reflexive project of the self, the author seeks to show, is a form of control or mastery which parallels the overall orientation of modern institutions towards 'colonising the future'. Yet it also helps promote tendencies which place that orientation radically in question - and which provide the substance of a new political agenda for late modernity. In this book Giddens concerns himself with themes he has often been accused of unduly neglecting, including especially the psychology of self and self-identity. The volumes are a decisive step in the development of his thinking, and will be essential reading for students and professionals in the areas of social and political theory, sociology, human geography and social psychology.

WHEN YOU LEAST EXPECT IT, BIRNAM WOOD COMES TO DUNSINANE HILL The Risk Theatre Model of Tragedy presents a profoundly original theory of drama that speaks to modern audiences living in an increasingly volatile world driven by artificial intelligence, gene editing, globalization, and mutual assured destruction ideologies. Tragedy, according to risk theatre, puts us face to face with the unexpected implications of our actions by simulating the profound impact of highly improbable events. In this book, classicist Edwin Wong shows how tragedy imitates reality: heroes, by taking inordinate risks, trigger devastating low-probability, high-consequence outcomes. Such a theatre forces audiences to ask themselves a most timely question---what happens when the perfect bet goes wrong? Not only does Wong reinterpret classic tragedies from Aeschylus to O’Neill through the risk theatre lens, he also invites dramatists to create tomorrow’s theatre. As the world becomes increasingly unpredictable, the most compelling dramas will be high-stakes tragedies that dramatize the unintended consequences of today's risk takers who are taking us past the point of no return.

This book presents a novel picture in current advances in research of theoretical and practical frameworks of environmental problems and solutions taken from the latest empirical research findings. The book deals with basic concepts and principles of process, modern biochemical and molecular approaches, genomics and metagenomics, proteomics, remediation strategies of various hazardous pollutants, microbial carbon sequestration and remediation, phytoremediation, bioleaching, biosorption, upscaling of systems, and considers the merit and demerits based on the current literature related to environmental problems and solutions. The book is aimed at professionals, researchers, academicians, and students who would like to improve their understanding of the strategic role of environment protection and advanced applied technologies at different levels. It will be useful for the experienced engineer or scientist working in the field.

An analysis of the condition of Western societies that will take its place as a core text of contemporary sociology alongside earlier typifications of society as postindustrial, and current debates about the social dimensions of the postmodern

The present is a contest between the bright and dark sides of discovery. To avoid being torn apart by its stresses, we need to recognize the fact—and gain courage and wisdom from the past. Age of Discovery shows how. Now is the best moment in history to be alive, but we have never felt more anxious or divided. Human health, aggregate wealth and education are flourishing. Scientific discovery is racing forward. But the same global flows of trade, capital, people and ideas that make gains possible for some people deliver big losses to others—and make us all more vulnerable to one another. Business and science are working giant revolutions upon our societies, but our politics and institutions evolve at a much slower pace. That’s why, in a moment when everyone ought to be celebrating giant global gains, many of us are righteously angry at being left out and stressed about where we’re headed. To make sense of present shocks, we need to step back and recognize: we’ve been here before. The first Renaissance, the time of Columbus, Copernicus, Gutenberg and others, likewise redrew all maps of the world, democratized communication and sparked a flourishing of creative achievement. But their world also grappled with the same dark side of rapid change: social division, political extremism, insecurity, pandemics and other unintended consequences of discovery. Now is the second Renaissance. We can still flourish—if we learn from the first.