Catching up posts from the winter holiday break…a nice piece on risk management in air travel
From the end of the article, which basically bemoans the state of airport security…
“How we got to this point is an interesting study in reactionary politics, fear-mongering and a disconcerting willingness of the American public to accept almost anything in the name of “security.” Conned and frightened, our nation demands not actual security, but security spectacle. And although a reasonable percentage of passengers, along with most security experts, would concur such theater serves no useful purpose, there has been surprisingly little outrage. In that regard, maybe we’ve gotten exactly the system we deserve.”
The same could be said for financial services regulation in the 1980s or environmental regulation in the 1970s.