Risk refers to the potential negative impact that may arise from some present or future event. In common usage, it has become synonymous with the probability of a loss or threat. There are different definitions of risk, and its measurement can be difficult, but industries that are risk-sensitive use the equation: Risk = (probability of the event) x (consequence). Thus, the harsher the loss and the more likely the event, the worse the risk. What role does framing play in risk assessment?
Back in the day
Founded in 1624 by the Dutch West India Company, New Amsterdam developed into the largest Dutch colonial settlement in the New Netherland territory. It remained in Dutch possession until 1664, when it fell provisionally into the hands of the English. The Dutch regained it in August 1673, renaming the city "New Orange," but permanently ceded New Netherland to the English in November 1674. New Amsterdam eventually became what major US city?
Born on a day like today
James Maury "Jim" Henson was one of the most important puppeteers in modern American television history. He was also a filmmaker, television producer, and the founder of The Jim Henson Company, The Jim Henson Foundation, and Jim Henson's Creature Shop. Most famous for creating the Muppets, he was the leading force behind their long, creative run. Henson created the prototype for his signature character, Kermit the Frog, from what discarded materials?