When it comes to economics as you might remember some of the principles,
some of versions of the precautionary principle that were written into
international treaties and protocols and etc.
They specifically state that the states should use the principle
according to their capabilities and
that brings in the whole element, and the discussion of economics.
For instance, when do environmental and health concerns,
when do they outweigh economic considerations?
Can everything, for instance, be reduced to monetary values or is there
other aspects that we need to include when we consider state's capabilities?
And then finally, the precautionary principle has historically raised a number
of social cultural issues as well.
There's the whole discussion about whether we should have
free markets versus state government where some argue that
the precautionary principle provides too much regulatory authority and
power to the state versus having free market regulate itself.
And then finally, there's also a number of cultural differences
in how we perceive different risks and those often lead to
controversies between various states, especially when one state
has decided to use the precautionary principle to ban a product.
That is manufactured in another state.