Skin in the Game
In his inimitable, pugnacious style, Taleb creates a jaw-dropping framework for understanding this idea. Skin in the Game challenges our long-held beliefs about risk, reward, politics, religion and finance - and makes us rethink everything we thought we knew. Why should we never listen to people who explain rather than do? Why do companies go bust? How is it that we have more slaves today than in Roman times? Why does imposing democracy on other countries never work? The answer: too many people running the world don't have skin in the game. In this provocative book, Nassim Nicholas Taleb shows that skin in the game applies to all aspects of our lives. It's about having something to lose and taking a risk. Citizens, lab experimenters, artisans, political activists and hedge fund traders all have skin in the game. Policy wonks, corporate executives, theoreticians, bankers and most journalists don't.