[anamax]

> Of course this is quite tricky, but I think in Europe they're starting to move towards the right idea: they have the precautionary principle

The precautionary principle can't be satisfied. Also, its application is extremely political. For example, it should applied to folks who might become parents.

Note that the precautionary principle is typically invoked by folks who don't don't have much skin in the game and don't understand what their costs and benefits are.

Note that regulation is the best example of systemic risk not to mention the inevitable corruption.

This is not to say that "ethics codes" are good and effective.

There is no silver bullet.

[liedra]

Yeah, but you missed the second half of my sentence :) It's not the only thing they do, and it's certainly not the whole of a good governance mechanism. I do agree with you about the PP, but it's a move in the right direction, at least they have awareness of the issues that need to be addressed. There is no silver bullet, but they can (hopefully) work toward something that works most of the time.

[billswift]

On the other hand there is a quote: "Once you have to write your code of ethics down, you have already lost." Unfortunately, I not only don't remember the source, I can't even remember the context.