Ethics and Risk Analysis

Risk is often defined as the combination of a specific hazard and the likelihood that the hazard will occur, or by using an equation of (probability) × (hazard) = risk. Risk analysis is the study of risk, the probability that a hazard may occur, and the evaluation of such risk. Risk analysis is comprised of three elements: risk assessment, risk management, and risk communication. Risk assessment involves assessing the various risk possibilities involved [Page 218]in an endeavor, determining of the probability of such risk occurring in that specific endeavor, and evaluating the possible societal cost of such risk in relation to the likely societal benefit to be realized for undertaking the risk. Risk management is the process of evaluating information to create measures to reduce the risk of the hazards occurring. Risk communication is the process of communicating the risks to the public and among and between the various stakeholders.

Ethics is the study of values and, in the field of nanotechnology, it deals with the value judgments pertaining to scientific conduct in the multidisciplinary field of nanoscience and nanotechnology. Ethics is an integral component of risk analysis insofar as it defines how society should value potential societal costs and benefits. While much of risk analysis of nanoscience and nanotechnology focuses on utilitarian points of view, there is increasing emphasis on a more comprehensive discussion, which includes the principles of autonomy, justice and non-maleficence.

Historically, the acceptance of any new technology has been dependant upon the public perception that the risks associated with the new technology were not greater than the perceived benefits that would be derived from use of the new technology. This is simply the public applying the principle that if a certain action increases the overall good, then the action is acceptable. This is a practical application of the utilitarian principle of the greatest happiness and is aptly represented, for example, by the public's acceptance of boiler technology. Boilers provide power to run a variety of mechanical applications. However, without careful inspection and maintenance, they can cause severe injury and death, as when an exploding boiler on the American steamboat Sultana caused the death of 1,800 passengers, or during the early years of railroad industry, when the frequent explosions of steam locomotives injured many. Notwithstanding these tragedies, the public perceived that the benefits of steam locomotion outweighed its dangers.

With the introduction of newer and potentially highly dangerous technologies, industry began risk analysis prior to release. Industry performed studies and passed on results of product safety to the public, who would otherwise be adverse to release of dangerous products An example of this is the pharmaceutical industry, where public decisions to accept new medicine is dependant, in part, on results of testing by the pharmaceutical company showing the relative safety of the product and its beneficial uses. This arrangement worked well until the public, whether by deliberate or mistaken misinformation from industry players, suffered serious potential harm of which they were not properly notified (e.g., a U.S. government contractor's false assurances that individuals working in the nuclear weapons programs in the 1950s would not be harmed by exposure to radioactive materials, or industry assuring the public that there were no dangers involved in the consumption of beef tainted with mad cow disease). Thereafter, the public demanded more involvement in the risk analysis process.

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