SKIN IN THE GAME

From the bestselling author of The Black Swan, a bold book that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibilityWhy should we never listen to people who explain rather than do` Why do companies go bust` How is it that we have more slaves today than in Roman times` Why does imposing democracy on other countries never work`The answer: too many people running the world dont have skin in the game. In his inimitable, pugnacious style, Nassim Nicholas Taleb shows that skin in the game applies to all aspects of our lives. Its about having something to lose and taking a risk. Citizens, lab experimenters, artisans, political activists and hedge fund traders all have skin in the game. Policy wonks, corporate executives, theoreticians, bankers and most journalists dont.As Taleb says, `The symmetry of skin in the game is a simple rule thats necessary for fairness and justice, and the ultimate BS-buster,` and `Never trust anyone who doesnt have skin in the game. Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them`.