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John Livingston News

Risk

Last week I received an e-mail from a childhood friend that reminded me of a book I had read in College for my economics professor Bulweir Singh. It was written in 1841 by Charles MacKay and is entitled EXTRAORDINARY POPULAR DELUSIONS AND THE MADNESS OF CROWDS. In 1998—long after I had graduated from College Peter […]

Categories
John Livingston News

Public Safety and Individual Responsivity

In 1998, Peter Bernstein wrote a book entitled THE REMARKABLE HISTORY OF RISK. It was part mathematics, part history and part psychology. The basic takeaway for me was twofold: 1. That risk is individual and based on experience and information 2. That the very process of avoiding risk—risk mitigation, can lead to unintended consequences that […]