HISTORY AND EVOLUTION OF RISK

Beatrisa Ilieva, Vesela Angelova

Abstract


The concept of „risk“ has undergone a long historical evolution, reflecting the social and economic changes in the development of human civilization. From its perception as a matter of chance in ancient trade and navigation to its formation as a management category during the industrial era, risk has gradually become the subject of scientific analysis and quantitative measurement. In the 20th century, with the development of economic theory and financial instruments, risk management became institutionalized as part of strategic decision-making. In today's global economy, risk has become multifaceted - economic, financial, environmental, and technological - and requires an integrated approach. The report traces the main stages in the historical development of the concept of risk, emphasizing the role of innovation, digitalization, and sustainable financing in building modern models for risk management and prevention.


Keywords


risk, risk management, economic evolution, financial systems, sustainable development, digitalisation.

References


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Onlayn resursi

Investopedia. (2017, March 17). Enterprise Risk Management (ERM): What It Is and How It Works. Retrieved from https://www.investopedia.com/terms/e/enterprise-risk-management.asp (dostapena na 2025 08 07) Investopedia

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