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Risk Society
A society focused on identifying and managing risks created by modern industry
Individualism
The belief that individuals should make their own choices and focus on their own goals and needs free from government oversight
Reflexive modernity
When society recognizes and questions the negative consequences of its own progress and technology
Unbounded environmental risks
Environmental harm that can spread across large areas, crossing boundaries in the process
Bureaucracy
A system of government or organization that uses rules, procedures and appointed officials to make decisions
Tragedy of the commons
When people overuse a shared resource for personal benefits, resulting in the depletion or exploitation of the resources
Mutual coercion, mutually agreed upon
People agree to accept rules that limit everyone’s freedom in order to protect shared resources to benefit society.
Utilitarianism
The idea that the best decision is the one that creates the greatest overall good for the greatest number of people
Traditional Policy paradigm
An approach to making policies that relies on established rules, government authority, and conventional ways of solving problems
Technocentric outlook
The belief that technology and innovation can solve environmental problems
End-of-pipe solutions
Solutions that deal with pollution after it has already been created, instead of preventing its creation
Market capitalism
An economic system where private businesses compete to sell goods and services based on the functions of supply and demand
The invisible hand
Adam Smith’s idea that people pursuing their own self-interests in a competitive market can unintentionally benefit society as a whole
Property rights
The legal authority that individuals have over the resources they own
Isolationism
A policy of limiting foreign involvement or influences
Protectionism
A policy of shielding a country’s domestic industries from foreign competition by applying tariffs or restricting imports
Capital flight
When businesses move their investments out of less developed countries to seek the highest return possible