Sim nicholas tolleb: Government makes things possible by the mechanisms of bail outs. He says that when it goes well, a person can transfer risks into the future and against immediate payments. In modernity we temt to judge people on numbers because there's no survival involved in it,. So i like this general point about a, what you call a reuben trade."
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.