Climate change. Middle East instability. International terrorism. Oil price shocks. Weapons of mass destruction. Extreme weather events. The world is fast becoming a riskier place, and the days of wait-and-see are no longer an option, says the World Economic Forum's recently released Global Risks 2007 report.
The report, published in cooperation with Wharton's Risk Management and Decision Processes Center and presented to world leaders at Davos in January, identifies 23 core risks -- most of which, the report argues, have worsened over the last year, despite growing awareness of their consequences. It also underscores a growing disconnect between the power of these risks to disrupt the world and our ability to mitigate them.
Wharton professor and Risk Center co-director Howard Kunreuther, along with several other Wharton faculty members, played a key role in contributing to the report's methodology. Kunreuther and management professor Stephen Kobrin, both of whom attended the World Economic Forum in Davos in January, have also been part of the WEF's Global Risk Network since its inception three years ago.
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