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2 - The Rise of Risk in Regulatory Governance

from Part I - Foundations

Published online by Cambridge University Press:  22 November 2024

Karen Yeung
Affiliation:
University of Birmingham
Sofia Ranchordás
Affiliation:
Tilburg University, The Netherlands
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Summary

Risk is a central concept in modern regulatory studies. In Chapter 2, the general idea of ’risk’ is introduced. The chapter helps readers grasp its scientific and practical relevance for regulation. The chapter also offers an overview of the importance of risk in scholarly work and policy-making. The chapter emphasizes the extensive and diverse nature of risk studies across different academic disciplines including ’technical’ quantitative methods and sociological critique. It explains how risk identification, risk assessment, and risk management are conventionally understood and highlights their shortcomings and complexities. Additionally, it discusses the trend of ’riskification’ – the tendency to frame a growing number of issues in the language of risk.

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An Introduction to Law and Regulation
Text and Materials
, pp. 41 - 78
Publisher: Cambridge University Press
Print publication year: 2024

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