Paradigms of Risk, Hazards and Danger

In his 1962 work, The Structure of Scientific Revolutions, Thomas Kuhn defined paradigm as a set of concepts constituting the foundations of a field of science. He presents revolutions as shifts in the existing paradigms and the phrase, paradigm shift, has since entered the language of science and business. Risk is a concern in both fields and this chapter considers the paradigms of risk, and whether they require a shift. Although we avoid negative experiences, often interpreted as resulting from hazards, no common risk management methodology exists. This statement may strike as untrue: after all, safety is a vast field; we analyse hazards and manage risk. Yet is it not a delusion, and is risk management not an attempt to charm reality? Don't hazards, risk and danger depend on our perception? Perhaps risk can be viewed through the lens of quantum mechanics, existing in a limbo of potential until our actions and interpretations force events and circumstances to assume a danger state. If so, would managing this potential prior to the wave function collapse-inducing observation make any sense? In this chapter we will use the theory of inertia to attempt an answer to the question: is risk management possible?