What is the Precautionary Principle, and is it Good or Bad?

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Plenty of people have an opinion on whether the precautionary principle is good or bad, but what exactly is it?

RESOURCES
The Precautionary Principle website: http://www.precautionaryprinciple.eu/
UNESCO — The Precautionary Principle (2005) — PDF http://unesdoc.unesco.org/images/0013…

Communication from the European Commission on the Precautionary Principle (2000) — PDF http://ec.europa.eu/dgs/health_consum…

The Precautionary Principle and European Union Legislation: http://europa.eu/legislation_summarie…

The Paralyzing Principle (2002) — by Cass Sunstein, in case you are interested in an alternative perspective — PDF http://object.cato.org/sites/cato.org…

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