Agan: I have already argued against unrfettered ovelization in the black swan. But then i realized there was a second element in rovalization that people fail to understand, he says. Do they want more flat screen tivs? Agan asks. Or do you want a job or some kind of ego satisfaction from seeing the product? The artist is loaded for the money, but mostly for because they have a very synchronised life. It's where not five o'clock that sits, is finished, is what con s after. 'I'm fundamentally a localist, someone who believes in bottom up system, not topped down,' writes Agan.
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.