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1 results

  • 3 - The Politics of Governing Risk

  • Louis W. Pauly, University of Toronto
  • Book:
    Insuring States in an Uncertain World
    Published online:
    13 August 2025
    Print publication:
    18 September 2025, pp 39-53

  • Summary

    The chapter sets out a conceptual taxonomy for thinking systematically about old and new risks perceived to have a global dimension. It uses the complexity of those worldwide risks and the timeline of the disasters they portend to build the analytical scaffolding for understanding our current dynamic governing practices that are evolving to manage them in their diversity. It also sets out the scope conditions for both feasible insurance practices and for the political utility of insurance metaphors. As risk complexity deepens and time horizons lengthen, the potential role of market mechanisms shrinks, and collaborative government appears increasingly necessary.