People should undertake risky action after they have carefully considered its consequences

Many people believe that  before undertaking any  risky action one has to carefully consider its consequences.  I do agree with this argument, except in some exceptional circumstances. Let me illustrate my view with some examples.

In health care when we opt for treatments for chronic problems ,like for example lower back pain, people have the choice of undergoing surgery or going with medical management and physical therapy. In such a setting the physician is supposed to obtain informed consent prior to the surgical procedure when he or she clearly explains the benefits the surgery can provide, and the risks of complications including permanent nerve damage, bleeding and anesthetic complications  which can occur during the procedure. The patient is then expected to make an informed decision with the help of the physicians keeping in mind his/her priorities , level of pain, the time they could take off and variety of  other factors.  Same is the case with almost any non-emergent surgical procedure or treatment modality, where the physician and the patient  are expected to go over the risks and benefits before  making a decision. However if the situation is an emergency, there may not be enough time for the physician to carefully consider all the consequences,  or discuss it with the patient and expedient action becomes necessary in an attempt to save the patient’s life. Informed consent is not mandatory under such circumstances.

Our actions can have far reaching consequences, so  considerable thought should be given before making any major decisions. The housing  bubble in United States is another case in point. People made risky decisions in terms of buying homes playing inflated prices through mortgages which they were unable to pay back. The crisis in the housing market, the foreclosures and and the collapse of the mortage industry all contributed to the economic recession.

In most circumstances, the proverbs, “Look before you leap” and “Haste makes waste” hold true. However, there are circumstances when “he who hesitates is lost”. Opportunities may not knock twice, and the person who seizes the moment through quick decision may make considerable gains, for example in the stock market sector and other businesses.  Such occasions are by far rare.

In summary, I  believe that analyzing the short term and long term implications of our choices do help us make better decision, except in exceptional circumstances