Chapter

Embracing Risk

Tom Baker and Jonathan Simon

in Embracing Risk

Published by University of Chicago Press

Published in print February 2002 | ISBN: 9780226035185
Published online March 2013 | e-ISBN: 9780226035178 | DOI: http://dx.doi.org/10.7208/chicago/9780226035178.003.0001
Embracing Risk

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This book offers a variety of efforts to bring into view changes along two axes—changing ways of governing risk and changing ways of doing the sociology of insurance and risk. They represent the beginning of what would be an important new area of thought and research. This chapter considers each axis in a bit more detail. Although the embracing of risk represents a systematic change in thinking about institutions, with the potential to transform the social contract, it is important to emphasize two kinds of limitations. One is the endurance of the risk-spreading infrastructure. The second limitation relates to risk taking.

Keywords: risk; insurance; institutions; social contract; risk-spreading infrastructure; risk taking

Chapter.  10629 words. 

Subjects: Company and Commercial Law

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