Riskgaming

Luck rules our lives, so why don’t we teach more about it?

12 snips
Feb 14, 2025
Nicholas Rush Smith, Director of the Master’s Program in International Affairs at The City College of New York, discusses the power of luck in shaping our lives. He explores how play-based learning can revolutionize education, especially in political science and international relations. The conversation highlights the role of simulations in understanding complex systems, the crucial lessons learned through losing, and how dopamine enhances the learning experience. Smith also tackles how educational methods must adapt to address global challenges like climate change.
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ANECDOTE

Nick's Losing Game

  • Nicholas Rush-Smith played the chairman of GM China in Lux Capital's "Powering Up" game.
  • He invested heavily in China early on, miscalculating win conditions and falling behind.
INSIGHT

Path Dependency and US Automakers

  • Path dependency in economic simulations can hinder comebacks once a player falls behind.
  • U.S. automakers face challenges due to differing consumer preferences and advanced Chinese EV technology.
INSIGHT

Games Reflect Market Opacity

  • Games can't predict every variable, mirroring the inherent opacity of real-world markets.
  • Opaque scoring systems in games simulate the uncertainty business leaders face.
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