There's a big premium put on mat mathematical sophistication, on econometric sophistication. The metric that fools people the most is the appearance of sophistication. When you are employed and do not have skinin again, you don't have to act and look like some one employed. And if someone randomes richer than you, it's because they were lucky - i was lucky too.
Nassim Nicholas Taleb talks with EconTalk host Russ Roberts about the manuscript version of his forthcoming book, Skin in the Game. Topics discussed include the role of skin in the game in labor markets, the power of minorities, the Lindy effect, Taleb's blind spots and regrets, and the politics of globalization.