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Risk, Uncertainty, and Contingency

In: Approximating Prudence

Author

Listed:
  • Andrew M. Yuengert

Abstract

We moderns, living in developed countries, face fewer risks than human beings in previous centuries, but even so we have not eliminated the challenges of luck, chance, and contingency. Both Aristotle and Aquinas lived in a world in which well-planned projects go hopelessly awry because of events that could not have been anticipated, in which what were good choices in the past turn out to be terrible choices in the present, and in which a person’s control over even his own behavior is incomplete and chance-like. In spite of our modern, highly controlled physical environment, we live in that same world.

Suggested Citation

  • Andrew M. Yuengert, 2012. "Risk, Uncertainty, and Contingency," Perspectives from Social Economics, in: Approximating Prudence, chapter 0, pages 69-94, Palgrave Macmillan.
    • Handle: RePEc:pal:pfschp:978-1-137-06317-5_5
    DOI: 10.1057/9781137063175_5
    as

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