Let not a man do what his sense of right bids him not to do, nor desire what it forbids him to desire. This is sufficient. The skillful artist will not alter his measures for the sake of a stupid workman. ↗
I think that's unjustified criticism. We have had a number of measures in place in this country for several years to mitigate the possibility of mad cow spreading in this country. We have found a single case. ↗
One important measurement issue concerns the fat tails problem that I mentioned earlier. VAR is concerned with extreme outcomes. If the tails of the probability distributions we are using are too thin, our VAR measures are likely to be too low. ↗
The swimmer adrift on the open seas measures his strength, and strives with all his muscles to keep himself afloat. But what is he to do when there is no land on the horizon, and none beyond it? ↗
Without sound conservation and management measures, fisheries will quickly become depleted and a basic component of global food security will be lost. ↗