RISK AS MORE IMPORTANT CATEGORY OF ECONOMIC THEORY
Journal Title: Науковий погляд: економіка та управління - Year 2018, Vol 1, Issue 59
Abstract
The study clarifies the scientific definition of the risk as an economic category, shows the contradictory role of risk in the historical development of society, identifies social problems of the present in terms of riskology, and carries out a theoretical analysis of the phenomenon of risk management. The definition of risk is extended by considering the risk together with the related terms: category, trouble, economy, opportunity, chance, etc. In a compressed form, the risk category can be defined as the possibility of loss. At the same time, the economic ones are called the risks accompanying the economic activity of a person, independent of the causes of problems (natural, social, political, economic). This definition should be amended that the risk is a vector category (where the probability is only one of the three elements of the vector), objective and at the same time anthropomorphic. Risks are complex and multifaceted concepts, but they have their own characteristics (risks are the danger of losses; risks come in the form of natural phenomena or events of society, etc.), which allows drawing their unambiguous overall definition in the form of “Risks – a phenomenon or event, probable whether foreseeable occurrence will lead or may lead to negative consequences.” Sources of risk are both natural phenomena and the results of the actions of society. In addition to natural risks, all risks are associated with the humanity events: in the case of man-made risks – as developers of technology, machinery, and equipment and the actions of the staff; in the case of economic risks – with the economic policy of power structures; in the case of social risks – with the social policy of society and behavioural decisions of individuals and individual groups of the population. Accordingly, man-made, economic, and social risks can and should be attributed to managed ones and to fight them using risk management tools.
Authors and Affiliations
S. B. Berezina
Keywords
Related Articles
- EP ID EP449737
- DOI 10.32836/2521-666X/2018-1-59-19
- Views 140
- Downloads 0
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