The point about having a slave versus a employees is a really interesting one. It highlights something can we talked about this in another one of our conversations, and it's so trivial, but it's so deep because it's so easily misunderstood. probabilities aren't the same as expectation. The odds of something being remote is not enough to mean you don't have to worry about it,. Because it pends on the consequences of that remote thing happening, not just the probability. So being a wiped out by your slave, or having been able to a punish your slave, is really very powerful.
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.