The Political Economy of Risk in Finance and the Military

This book explores risk conceptions, experiences, and reflections through the risk triangle framework in financial markets and the military, highlighting challenges, dilemmas, and impossibilities in risk analysis and management. It appeals to students of political science, economics, business, and risk professionals.

Format: Hardback
Length: 174 pages
Publication date: 13 December 2022
Publisher: Springer International Publishing AG

This captivating book delves into the intricate realm of risk conceptions, experiences, and reflections, offering a comprehensive exploration of the risk triangle's societal, organizational, and personal dimensions. Through its application to two critical areas of inquiry—financial markets and the military—it sheds light on the myriad challenges, dilemmas, and, in many cases, the inherent impossibilities of risk analysis and risk management. Drawing upon a rich blend of empirical and micro- and macro-level analysis, this innovative work captivates a wide audience, including students of political science, economics, business, risk professionals, and risk enthusiasts alike.

The book begins by introducing the concept of risk, emphasizing its multifaceted nature and its profound impact on individuals, organizations, and societies. It then delves into the risk triangle, a framework that helps in understanding the various factors that contribute to risk and the interrelationships between them. By examining the risk triangle from different angles, the book sheds light on the complexities and nuances of risk perception, assessment, and management.

In the first part of the book, the authors examine the challenges and dilemmas faced by risk analysts and risk managers in financial markets. They explore the complex dynamics of financial markets, including market volatility, economic downturns, and geopolitical risks, and discuss how these factors shape risk perceptions and decision-making processes. The authors also highlight the role of risk management strategies, such as risk diversification, risk mitigation, and risk transfer, in mitigating financial market risks.

The second part of the book focuses on the application of the risk triangle to the military domain. The authors examine the risks associated with military operations, including the risk of casualties, the risk of collateral damage, and the risk of strategic miscalculation. They discuss the challenges of risk analysis in the military context, including the need for accurate information, the complexity of decision-making processes, and the ethical considerations involved in risk management. The authors also explore the role of military leadership in risk management, including the importance of effective communication, decision-making, and crisis management.

Throughout the book, the authors employ a rigorous analytical approach, drawing on a wide range of empirical evidence and theoretical frameworks to support their arguments. They use case studies, historical examples, and contemporary insights to illustrate the practical applications of risk analysis and risk management in both financial markets and the military. The book also includes a comprehensive bibliography that provides further resources for readers interested in exploring the topic in greater depth.

In conclusion, this book is a valuable resource for students, professionals, and policymakers seeking to understand the complexities of risk analysis and risk management. It offers a comprehensive and interdisciplinary perspective on risk, providing insights into the challenges, dilemmas, and opportunities that arise in different contexts. By examining the risk triangle from societal, organizational, and personal angles, the book demonstrates the importance of a holistic and integrated approach to risk management. Whether you are a seasoned risk professional or someone interested in gaining a deeper understanding of risk, this book will undoubtedly provide valuable insights and inspiration.

Weight: 380g
Dimension: 216 x 153 x 18 (mm)
ISBN-13: 9783031119675
Edition number: 1st ed. 2023