When not to use the Precautionary Principle
The Precautionary Principle is not applicable:
- When the scale of a potential risk is too low for precautionary action to have a benefit.
- When the tradeoffs are substantial and known. When we know that not taking action will cause more damage than taking it.
- When the risks are known and priced in. That means people are aware of the risks and voluntarily decide it is worthwhile.
- When only a zero-risk option would be satisfying. There is seldom a 100% safe option.
- When taking risks could strengthen us. Never taking any risks is generally a worse idea than taking sensible ones.
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