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WiM055 - The Hillebrand Series | Episode 4 | Justice and Reason
The "What is Money?" Show
The Skin of the Game, Right?
The right is the power to choose how to use the scarce resource. The responsibility is to live with the deterministic consequences of your action. If you, if you misallicate the capital and you do it in a way that's not profitable, you will ultimately get liquidated back into the market. And this is that the skin of the game, right? The balance exactly, of incentives and disincentives associated with property rights.
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