Private risks

Managing Private Risks from Chemical Exposures... 

Command-and-control regulation is a rather blunt instrument for achieving an efficient level of public exposure. Its primary defect is its inability to allow emissions to vary across emitters in proportion to their marginal costs of abatement. That inability raises the cost of any specific level of ambient exposure reduction. Empirical analysis of regulatory decisions suggests that agencies are sensitive to the costs and benefits of risk reduction but demand far more reducfion in public exposure risks than individuals require for private risks. 

Keywords Chemicals Control Legislation Public-private Risk mangement... 

The protection of private risk capital has been Ignored in the past by the Military Departments. Historically, the thousands of inventions in the military patent portfolio (which represent two-thirds of the patents held by the entire Federal Government) have been available only on a royalty-free nonexclusive basis—essentially public dedication. The poor record of commercialization seems to give credence to the old adage "that which is available to everyone is of little value to anyone". 

Managing risks, and deciding on the appropriate causal model, is an essential component of both public and private risk decision-making. It follows that current cancer risk assessments must reflect the state-of-science and rely as little as possible on conjecture. Specifically, the U.S. Enviromnental Protection Agency (EPA) (EPA 2005) adds that ... 

If you are not offered the services of a risk assessor/lead paint inspector by a public health agency, or if you are concerned about the kind of service they are able to offer, you can hire a private risk assessor/lead paint inspector. Some individuals who call themselves CONSULTANTS also serve this function. Choose a risk assessor/lead paint inspector very carefully, paying special attention to the training he or she has received and his or her experience in investigating the source of lead exposure of a child with an elevated blood lead level. For a discussion of how to choose a lead paint inspector/risk assessor, see Chapter 11. 

Johnson Kwak, 15 Bankers, 81,108,158 Morris, Meltdown, 60,69, 74 Engel McCoy, Blind Eye, 2065 Immergluck, Private Risk, 462 Congressional Oversight Panel, Special Report, 4 Schwartz Creswell, What Created This Monster (Buffet quote). Securities and Exchange Commission, Alternative Net Capital Requirements for Broker-Dealers That Are Part of Consolidated Supervised Entities Final Rule, 69 Fed. Red. 34,428 (2004) McCoy, Pavlov Wachter, Systemic Risk, 1358-60 Joseph Stigletz, Capitalist Fools, Vanity Fair, January, 2009, at 50 Stephen Labaton, Agency s 04 Rule Let Banks Pile up New Debt, NYT, October 5, 2008, at Ai. 

Another approach is to use government and private mortality and injury statistics. Calculated absolute risk estimates (the probability per year of a worker being injured or killed) can be compared to those de facto worker risk standards. For example, in the United Kingdom, industry and government alike are using the fatal accident rate (FAR, see Glos-... 

There are no easy prescriptions for successful risk communication. However, tliose who liave studied and participated in recent debates about risk generally agree on seven cardinal rules. These rules apply equally well to tlie public and private sectors. Altliough many of tliese rules may seem obvious, they are continually and consistently violated in practice. Tims, a useful way to read tliese rules is to focus on why they are frequently not followed... 

Proponents of the laboratories counter that, despite these shortcomings, the laboratories seiwe a vital mission of undertaking the high risk and expensive investments that the private sector would never agree to invest in. Although natural gas research and development was minimal, DOE support accelerated technological advances on natural gas-fired turbines. Much of the research and development at the laboratories has provided a net social benefit to the nation and economy, work such as safe nuclear reactors and the development of sophisticated defense weapons. 

The approval of buprenorphine for the office-based treatment of opioid dependence represents a major departure from the earlier methadone clinic system. Physicians with addiction specialist credentials or those who have completed 8 hours of approved training can become qualified to treat up to 30 patients in their private offices. Stable patients may be given prescriptions for up to a month of medication. The combination buprenorphine/naloxone tablet is expected to have minimal risk for diversion. When taken subhnguaUy, as prescribed, naloxone has minimal biologic activity and does not interfere with the buprenorphine dose. However, if an attempt is made to inject the drug, the addict will experience the full antagonist effect of the naloxone. 

How can we best approach this task In the last decade, significant public and private resources have been invested with the goal of reducing pesticide risks through ... 

The emphasis of the program is to support projects that complement, rather than compete with the private sector. Some examples are projects related to high-risk and novel targets, orphan diseases, and areas in which the monetary return may not be immediately clear. 

Vaccine development involves a substantial investment in time, effort, and resources. Any public or private research and producing facility should allocate huge financial and human rescues when development of vaccine is decided. The cost from research to licensure, the risks inherent in vaccine development (e.g. technological constraints, regulatory approval) and short- or long-term evaluations of scientific and financial results may constrain this activity. In the developing world, the price has been a major impediment to the introduction of new vaccines. 

Currently, physicians and patients determine the demand for pharmaceuticals and employers and insurers assume the risk and cost. As the price of new health care technologies escalates, payers will design and implement strategies to share risk and cost. Defined employer contributions, increased patient cost sharing, and benefit exclusions will be used to help control utilization and cost. In this environment, value-based assessments will be crucial to the adoption of any technological innovation. It is reasonable to expect public and private coverage for new therapies if evidence is provided regarding the costs and consequences of treatment. However, social and ethical dilemmas will certainly arise as therapies whose costs exceed their benefits are debated in the public arena. 

---