2min chapter

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Nassim Nicholas Taleb on Work, Slavery, the Minority Rule, and Skin in the Game

EconTalk

CHAPTER

Is It the Right Metric in the Game for Politicians?

I want to disagree alla bit with the um in the game for politicians. It seems to me there's a big difference between a president's skin in the game and a, say, a senator voting for some resolution related to that war. The optimal structure is when a person is penalized a long term from inaction. And that only happens if in a disent, decentralized system. See, for example, the mayor of a smallryonow village in switzerland,. If he fails, his reputation as somhe has more skill in game than the bureaucrats in washington whose actiom cannot beden and and asol.

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