Risk aversion (CYA syndrome, herd instinct, fear of banishment, financial hoarding, greed) is are psychosomatic characteristics of humans IMHO.
When a majority of the voters in a democracy possess this (these) characteristic(s). it becomes a societal DISORDER, since it’s destructive of the society and the democracy. Civilization regresses IMHO. Education regarding this destructive influence is necessary for a significant societal majority for a progressive civilization. The practice of risk aversion by scientists and educated individuals is most ominous for me. since I have seen it happening and its effects over my lifetime. Bob Cook . From: Lennart Thornros<mailto:[email protected]> Sent: Saturday, March 2, 2019 7:22 AM To: [email protected]<mailto:[email protected]> Subject: Re: [Vo]:a bit of honesty in a complicated world Yes, risk aversion so they all react 'safe'. CYA and political correctness comes with the territory, big organizations not allowed to fail On Fri, Mar 1, 2019, 17:59 H LV <[email protected]<mailto:[email protected]>> wrote: In contrast with Big Tobacco of the 1970s, I think the big car companies and big oil have investors who suffer from risk aversion rather than naked selfishness. Harry On Thu, Feb 28, 2019 at 8:45 PM Jed Rothwell <[email protected]<mailto:[email protected]>> wrote: Jones Beene <[email protected]<mailto:[email protected]>> wrote: He did not mention explicitly : "investors from the petroleum industry" since that is a given ... but the implication is that he gets constant negative feedback from some of his investors, at the level of Board of Directors, NOT to pursue electric vehicles... Imagine that... I expect this is what led to the destruction of the GM EV1, and to the long delay in introducing electric cars. However, when the market for electric cars began to heat up, and when Tesla began to outsell all other luxury cars combined, this motivation evaporated. GM, Ford and the others feared they would face extinction if they did not develop electric cars. They would not let influential Board Members or politicians prevent them. For the same reason, GM, Ford and the others rushed to build hybrid cars after the Prius become popular. Hybrid cars greatly reduced gasoline consumption, so if there were Board Members with connections to big oil, I suppose they would have opposed them. I don't know if there were such Members but if there were, GM ignored them. Again, for the same reason, they are now pouring billions into self-driving automobiles. There may be industries and groups that oppose that oppose that technology. I wouldn't know. But no auto executive would listen to opponents, because after Toyota or GM starts selling self-driving cars, the others better have one within a few years or they will be doomed.
