Purchase - $38.00

The Distinctive Significance of Systemic Risk

20 Pages Posted: 11 Aug 2017  

Aaron James

University of California

Date Written: September 2017

Abstract

This paper suggests that “systemic risk” (e.g., of financial market collapse, or of ecological calamity) has a distinctive kind of moral significance. Two intuitive data points need to be explained. The first is that the systematic imposition of risk can be wrongful or unjust in and of itself, even if harm never ensues. The second is that, even so, there may be no one in particular to blame. We can explain both ideas in terms of what I call responsibilities of “Collective Due Care.” Collective Due Care arguably precludes purely aggregative cost‐benefit decision‐making and requires one kind of “precautionary” attitude in public choice.

Suggested Citation

James, Aaron, The Distinctive Significance of Systemic Risk (September 2017). Ratio Juris, Vol. 30, Issue 3, pp. 239-258, 2017. Available at SSRN: https://ssrn.com/abstract=3016883 or http://dx.doi.org/10.1111/raju.12150

Aaron James (Contact Author)

University of California ( email )

540 Alumni Ln
Davis, CA 95616
United States

Paper statistics

Downloads
0
Abstract Views
48