The argument might go that you should underpay certain professions say, teachers and doctors. So what doyou think of this argument? I don't think either one is underpaid. We just as a society, should decide on bounderies, on extremes. Focus on the big things that cannot be solved, you now, by individuals. Risk management. Likewise, we just have to make sure there is appropriate a skin in the game, and let the market functions. Await at once to function.
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.