This article is based on an Economic Note originally published by the Institut Economique Molinari in April 2005.
THE PRECAUTIONARY PRINCIPLE: A HIGH-RISK PRINCIPLE1
Version of Record online: 28 JUN 2008
Volume 25, Issue 3, pages 60–62, September 2005
How to Cite
Calzada, G., Philippe, C. and Méra, X. (2005), THE PRECAUTIONARY PRINCIPLE: A HIGH-RISK PRINCIPLE. Economic Affairs, 25: 60–62. doi: 10.1111/j.1468-0270.2005.00566.x
- Issue online: 28 JUN 2008
- Version of Record online: 28 JUN 2008
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The precautionary principle - recently added to the French constitution and part of the draft Constitution of the European Union - aims to protect the public from the risks associated with scientific and technological advance by allowing governments to ban any activity deemed to involve risks, even if those risks are unproven. In reality, the precautionary principle itself poses enormous risks of losing the advantages of projects that are banned, of preventing the development of the means by which risk may be ameliorated and of threatening the private property rights that provide the most effective environmental safeguard.