Washington Post (March 16)
“At long last, humankind had triumphed over risk.” Overconfidence has led to recent disaster in the financial system and deep water drilling. “Today, the quake, tsunami and, most particularly, the potential of a nuclear catastrophe in Japan should weaken at least one of our own deeply rooted faiths – in our own infallibility.” In the U.S., many have pushed for less government, fewer rules, fewer inspections and less regulation. “Japan, one hopes, should bring an end to such nonsense…. We haven’t defeated risk…. We need some rules, some regs, and a government willing to devise and enforce them.”
“At long last, humankind had triumphed over risk.” Overconfidence has led to recent disaster in the financial system and deep water drilling. “Today, the quake, tsunami and, most particularly, the potential of a nuclear catastrophe in Japan should weaken at least one of our own deeply rooted faiths – in our own infallibility.” In the U.S., many have pushed for less government, fewer rules, fewer inspections and less regulation. “Japan, one hopes, should bring an end to such nonsense…. We haven’t defeated risk…. We need some rules, some regs, and a government willing to devise and enforce them.”
Tags: Governement, Japan, Overconfidence, Regulation, U.S.
