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.