POL101Y1 Lecture Notes - Lecture 13: Canadian Shield, Universal Health Care, Social Movement
8 Dec 2015
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Politics goes with a hunch but doesn"t know with great certainty. Voters, taxpayers make decisions today that will affect the future, under a cloud of uncertainty. Cost of elders is high o o: we don"t know how much it will cost o. Set of decisions we make all the time. In the future we will have fewer sick people because sick people cost a lot. But we don"t know about the costs, we"re making decisions today about uncertainty. Risk is the (im)probability of a certain outcome. Probability distribution: data o o o o. Those who have cancer in their family have higher probability of dying. Knowledge presume certain behaviours create certain results. We expect that in most cases markets generally work o o o o o o o o o o o o o. Toronto hydro and stuff got together to figure out the risk and probability of disaster.
