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==Historical background==

==Historical background==

The term risk may be traced back to classical [[Greek]] rizikon (Greek ριζα, riza), meaning [[radical|root]], later used in Latin for cliff. The term is used in Homer’s Rhapsody M of Odyssey "[[Dilemma|Sirens, Scylla, Charybdee]] and the bulls of Helios (Sun)" Odysseus tried to save himself from Charybdee at the cliffs of Scylla, where his ship was destroyed by heavy seas generated by Zeus as a punishment for his crew killing before the bulls of Helios (the god of the sun), by grabbing the roots of a wild fig tree.

The term risk may be traced back to classical [[Greek]] rizikon (Greek ριζα, riza), meaning [[radical|root]], later used in Latin for cliff. The term is used in Homer’s Rhapsody M of Odyssey "[[Dilemma|Sirens, Scylla, Charybdee]] and the bulls of Helios (Sun)" Odysseus tried to save himself from Charybdee at the cliffs of Scylla, where his ship was destroyed by heavy seas generated by Zeus as a punishment for his crew killing before the bulls of Helios (the god of the sun), by grabbing the roots of a wild fig tree.

 

For the sociologist Niklas Luhmann the term 'risk' is a neologism which appeared with the transition from traditional to modern [[society]].[1] "In the Middle Ages the term riscium was used in highly specific [[context]]s, above all sea trade and its ensuing legal problems of loss and damage."[1] In the [[vernacular]] [[language]]s of the 16th century the [[words]] rischio and riezgo were used,[1] both terms derived from the Arabic word "رزق", "rizk", meaning 'to seek [[wealth|prosperity]]'. This was introduced to continental Europe, through interaction with Middle Eastern and North African Arab traders. In the [[English]] language the term risk appeared only in the 17th century, and "seems to be imported from continental Europe."[1] When the terminology of risk took ground, it replaced the older notion that thought "in terms of good and bad fortune."[1] Niklas Luhmann (1996) seeks to explain this [[transition]]: "Perhaps, this was simply a loss of plausibility of the old [[rhetoric]]s of Fortuna as an [[allegorical]] figure of religious [[content]] and of prudentia as a (noble) [[virtue]] in the emerging commercial society."[2]

For the sociologist Niklas Luhmann the term 'risk' is a neologism which appeared with the transition from traditional to modern [[society]].[1] "In the Middle Ages the term riscium was used in highly specific [[context]]s, above all sea trade and its ensuing legal problems of loss and damage."[1] In the [[vernacular]] [[language]]s of the 16th century the [[words]] rischio and riezgo were used,[1] both terms derived from the Arabic word "رزق", "rizk", meaning 'to seek [[wealth|prosperity]]'. This was introduced to continental Europe, through interaction with Middle Eastern and North African Arab traders. In the [[English]] language the term risk appeared only in the 17th century, and "seems to be imported from continental Europe."[1] When the terminology of risk took ground, it replaced the older notion that thought "in terms of good and bad fortune."[1] Niklas Luhmann (1996) seeks to explain this [[transition]]: "Perhaps, this was simply a loss of plausibility of the old [[rhetoric]]s of Fortuna as an [[allegorical]] figure of religious [[content]] and of prudentia as a (noble) [[virtue]] in the emerging commercial society."[2]