As those of you who know me will testify, I am a real sucker for risk management and I’m always exploring new and different ways of thinking about how risk, and risk management plays an active part in our everyday lives.  This helps me when I’m lecturing and training people and, frankly, it helps me in my own life too.

So you can imagine my excitement sitting on the couch on Tuesday night when the thought struck like a lightning bolt of enlightenment, that there is perhaps no grater, more profound, or more effective device for managing policy risk in the national space, than the electorate.   

Indeed no sooner had the result been called in the election than we had experts and commentators trying to tell us how much space the electorate had given the President to move into over the next four years. What this really amounted to was an assessment by these folks of the extent to which the electorate had managed policy risk.  Clearly the way the people had voted clearly laid down markers for expectation and limitations for the President’s second term.