The Rewards of Studying Risk
Episode Description
📂 Management
Brief Summary
Experts discuss 30 years of the Wharton Risk Center and the evolving landscape of risk management, focusing on climate change and proactive strategies.
Key points
- 30 Years of the Wharton Risk Center. The Wharton Risk Center was founded to address low probability, high consequence events.
- The Evolution of Risk Management. Risk management has evolved from technical to strategic over the past 30 years.
- Addressing Climate Change. The center is focusing on climate change as a significant risk for the future.
- Adapting to Climate Change. We must develop an adaptive mindset to face climate challenges ahead.
- The Cost of Inaction. Cities like Miami and New York face significant challenges as sea levels rise.
- The Inequality Issue. Who will pay for disasters as public deficits rise?
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Episode highlights
- 30 Years of the Wharton Risk CenterThe Wharton Risk Center was founded to address low probability, high consequence events.“It was a low probability high consequence event that actually got the center started.”0:35Dec 17, 2015
- The Evolution of Risk ManagementRisk management has evolved from technical to strategic over the past 30 years.“The nature of risk management has changed a lot over the past 30 years.”7:14Dec 17, 2015
- Addressing Climate ChangeThe center is focusing on climate change as a significant risk for the future.“Climate change is a risk we've all been thinking about but have a hard time dealing with.”15:34Dec 17, 2015
- Adapting to Climate ChangeWe must develop an adaptive mindset to face climate challenges ahead.“If we don’t have this adaptive mindset, we’re going to be facing enormous trouble.”19:51Dec 17, 2015
- The Cost of InactionCities like Miami and New York face significant challenges as sea levels rise.“What are you going to do when the sea level comes up by another six feet?”20:04Dec 17, 2015
- The Inequality IssueWho will pay for disasters as public deficits rise?“The question of who’s supposed to pay for these disasters is critical.”21:11Dec 17, 2015
- Knowledge for ActionThe importance of research in decision-making is emphasized, showcasing a commitment to collaboration.“That's the beauty of research.”35:28Dec 17, 2015
Tension
45/ 100Some tension
