22. Methods applicable to management of
economic and other risks are not applicable to global catastrophic risks
Global
catastrophic risks cannot be insured, and are not easily amenable to prevention
within a logical economic context. They break the rules because they are
universal and their economic downside, being extreme or total, is hard to
quantify in conventional economic terms. Furthermore, there is a tendency for
countries to fixate on economic risks relevant only to themselves, and not to
the globe as a whole.