Defining risk

Risk is the focal topic in the management of many activities and technologies. For that management to be successful, an explicit and accepted definition of the term risk is essential. Creation of that definition is a political act, expressing the definers' values regarding the relative importance of different possible adverse consequences for a particular decision. Those values, and with them the definition of risk, can change with changes in the decisionmaker, the technologies considered, or the decision problem. After a review of the sources of controversy in defining risk, a general framework is developed, showing how these value issues can be systematically addressed. As an example, the approach is applied to characterizing the risks of six competing energy technologies, the relative riskeness of which depends upon the particular definition used.     

Headlong into the Polanyian Dilemma: The Impact of Middle-Class Moral Panic on the British Government's Response to the Sub-prime Crisis

This article focuses on the discursive construction in Britain of a middle-class moral panic occasioned by the distress caused to self-styled 'responsible mortgage borrowers' by falling house prices. In the context of the move towards asset-based welfare the sub-prime crisis manifested itself most obviously in the popular consciousness as a threat to housing market wealth. The Labour government used the political space opened up by the narrative of middle-class moral panic in order to protect banks' balance sheets from the consequences of their own failed investments in mortgage-backed securities. The ensuing arrangements immunised banks from the implications of market self-regulation in the first-phase response to the sub-prime crisis while simultaneously allowing them to continue to impose the experience of market self-regulation on their customers. An increasingly asymmetric approach to banking regulation has arisen analogous to that which Karl Polanyi associated with the contradictory co-existence of market and non-market forms.     

Environmental Security and New Middle Powers: The Case of South Korea

This article considers the role of new middle powers in the climate change debate. We focus on the issue of “green growth.” We argue that new middle powers such as South Korea are increasingly proactive in promoting this green growth agenda and, as a result, challenging conventional realist and liberal approaches and expectations to new middle powers. This diplomacy is aiming to bridge states, great and small, by leading to strategic breakthroughs in the current climate change negotiation deadlock. The article discusses South Korea’s green growth initiative and identifies how this initiative affects South Korea’s middle power role in the global environmental debate with respect to its inclusion in the Environment Integrity Group and its initiative the Global Green Growth Institute (GGGI).     

Saving more than the children: the role of child-focused NGOs in the creation of southern security norms

The past decade has seen the emergence of ‘new critical discourses’ on security that argue for a widening of the term. This article hopes to add to such discussions by specifically examining the position of children and of the ngos that champion their rights in relation to the evolving security discourse in Southern societies. With this in mind, the first section of the article outlines the role of ngos in the contemporary practice of security. This will serve as an introduction to section two, where the activity of ngos vis-à-vis children will be considered. Such activity raises a number of questions with regard to the usefulness of incorporating children into the security discourse specifically, and to the social construction of ‘children’ generally. These will be outlined in section three. Section four argues for children to be considered as inherent to the creation of Southern security norms, while the final section concludes.