Essay on Risk Taking - 975 Words

nbsp;nbsp;nbsp;nbsp;nbsp;In our lives, it is important to exercise self-command. However, we should not be so concerned with the future that we stifle the present. The question becomes what balance should we strike between self-command and risks? What kinds of risks are acceptable or unacceptable? In this essay, we will use two examples of risks to show the distinction between the two and arrive at a conclusion as to the balance one should have between risk and self command. The first example we will use is of a person who spends his life savings on a lottery ticket and does not win the lottery. The second is of a person who spends his life savings on a hunch regarding a cure for AIDS, a hunch that is false. Before we make†¦show more content†¦nbsp;nbsp;nbsp;nbsp;nbsp;Now that we have several definitions of acceptable risks, we may ask how these definitions, which seem piecemeal and unrelated, can all combine to form one definition of acceptable risk. The best way to do this is to examine the two cases that lie before us and relate the definitions to them. In the process of doing so, we will determine which risk is acceptable and which is not. Risks in the example: the lottery and the AIDS cure nbsp;nbsp;nbsp;nbsp;nbsp;If the average person on the street were presented with the case of spending ones life savings on a lottery ticket and losing or spending the same sum on a false hunch regarding an AIDS cure, he or she would probably come up with several answers. For the most part though, all the answers would be consistent with one idea: the AIDS cure is simply quot;worthquot; more and thus is a more acceptable risk. There might be several reasons for this. One could assume, for example, that the only person who would attempt to cure AIDS would be a doctor with sufficient experience in the field. It would follow, then, that the odds of finding a cure for AIDS would be much greater than the odds of winning the lottery. To win the lottery, one has to draw 6 numbers out of 46 (a probability that is very low). However, curing AIDS with medical experience is a less risky endeavor. In this instance, trying to cure AIDS would be a greater moral good because it isShow MoreRelatedThe Definition Of Risk Taking910 Words   |  4 Pages 1-3-1 Definition of risk-taking : In academic setting, learners are willing to get new knowledge from their teacher, however ; how to interact with teacher ? The only manner is to take risk. In other words ; is the learners’ responsability to interact with their teacher to absorb new information, and to take an active part inside the classroom.In fact, Learners’tendency to take risk is related to how he or she expects to benefit from the outcomes. So, it is essential to try a new informationRead MoreRisk Taking Essay817 Words   |  4 PagesDo you feel that taking genuine risks in life is necessary in order for us to be happy? 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