Friday, June 16, 2017

Skin in the game..........................

Besides antifragility, another theme Nassim Taleb has been stressing of late is "skin in the game": the idea that people who face the consequences of their actions are more likely both to learn and to behave responsibly, than people who are shielded from such consequences.

Of course, Taleb is smart enough and educated enough to know that this is not an entirely new idea, and that he is expanding upon the intimations of earlier thinkers here. Even so, it was interesting to see Michael Oakeshott sound this motif so clearly in "Rational Conduct":

"And politics is a field of activity peculiarly subject to the lure of this 'rational' ideal. If you start by being merely 'intelligent' about a boiler or an electrical generator you are likely to be pulled up short by an explosion: but in politics all that happens is war and chaos, which you do not immediately connect with your error."

Gene Callahan, as excerpted from here

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