Summary of Skin in the Game: by Nassim Nicholas Taleb - Hidden Asymmetries in Daily Life (Incerto) - A Comprehensive Summary

Alexander Cooper

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Summary of Skin in the Game - Hidden Asymmetries in Daily Life (Incerto) - A Comprehensive Summary

Skin in the game is set 4 subjects in one: a) uncertainty and the reliability of understanding (both realistic and medical, assuming there is a distinction), or in much less polite words bull***t detection, b) symmetry in human affairs, that is, equity, justice, responsibility, and reciprocity, c) records sharing in transactions, and d) rationality in complicated systems and in the real global. That those 4 cannot be disentangled is something that is obvious when one has…pores and skin in the sport.
To emit a Yogiberrism, in academia there's no distinction among academia and the actual world; in the actual global, there is.
When you have the rewards, you ought to additionally get some of the dangers, now not let others pay the rate of your errors.
Don’t inform me what you “assume,” simply inform me what’s to your portfolio.
The abrasions of your pores and skin guide your mastering and discovery, a mechanism of natural signaling, what the Greeks known as pathemata mathemata (“guide your learning through ache,” something moms of young children realize rather nicely).
Paperwork is a production through which a person is conveniently separated from the outcomes of his or her moves.
However the worst casualty has been loose markets, as the general public, already susceptible to hating financiers, started conflating loose markets and better order kinds of corruption and cronyism, when in truth it's far the exact opposite: it is authorities, now not markets that makes these items viable through the mechanisms of bailouts. It is not just bailouts: government interference in popular has a tendency to take away skin in the game.
You may in no way absolutely convince a person that he is inaccurate; only truth can.
The curse of modernity is that we are more and more populated via a class of people who are better at explaining than understanding, or higher at explaining than doing.
There may be no evolution without pores and skin in the sport.
hire-looking for is trying to use defensive policies or “rights” to derive profits without adding anything to economic activity, no longer increasing the wealth of others.
Efficaciously, there may be no democracy without such an unconditional symmetry in the rights to express you, and the gravest chance is the slippery slope within the attempts to restriction speech on grounds that some of it could harm some people’s emotions. Such regulations do not necessarily come from the country itself, rather from the forceful established order of an intellectual monoculture by means of an overactive concept police in the media and cultural life.

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