The recent global economic crisis has revealed that the prevailing risk management systems in the banking and financial sectors are utterly inadequate to protect the public from unacceptable levels of risk. Such "black holes of risk," which expose all of us to catastrophic harm, are increasingly...

"Pandemics, massive earthquakes, war, and other catastrophes inspire immediate action because their casualties and destruction are immediately visible. Climate change is a unyielding problem because its long-range dangers are hidden, and thus it is a global risk unlike anything in human...