In a New Age of Risk, Exploring the Social Side of Uncertainty

What does all this tell us about the impact of uncertainty on society and the geopolitical climate? Traditional academic approaches don’t seem equipped to handle such questions, making Prof. J. Peter Burgess’s program especially necessary. This research could have concrete outcomes for policy makers, the insurance sector and others evaluating risk. Insurance, specifically, takes a mathematical approach to determining the value and risk to insurable objects, but this misses the important contribution of cultural values. It can’t capture, for example, the tendency in Northern Europe to trust in the State’s institutions, while Southern European cultures rely on family for security in the face of an uncertain future. “These so-called softer dynamics really have a lot to say about how people experience risk.” Letting a more complete picture of that human experience inform risk management could certainly lead to better solutions for individuals, institutions, commerce and beyond.

Scientific title : AXA Chair in the Geopolitics of Risk

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