Skin in the Game: Hidden Asymmetries in Daily Life

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Skin in the Game: Hidden Asymmetries in Daily Life

#1Â NEW YORK TIMES BESTSELLER â€¢ A bold work from theÂ author of The Black SwanÂ that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility

In his most provocative and practical book yet, one of the foremost thinkers of our time redefines what it means to understand the world, succeed in a profession, contribute to a fair and just society, detect nonsense, and influence others. Citing examples ranging from Hammurabi to Seneca, Antaeus the Giant to Donald Trump, Nassim Nicholas Taleb shows how the willingness to accept oneâ€™s own risks is an essential attribute of heroes, saints, and flourishing people in all walks of life.

As always both accessible and iconoclastic, Taleb challenges long-held beliefs about the values of those who spearhead military interventions, make financial investments, and propagate religious faiths. Among his insights:

â€¢ For social justice,Â focus on symmetry and risk sharing. You cannot make profits and transfer the risks to others, as bankers and large corporations do. You cannot get rich without owning your own risk and paying for your own losses. Forcing skin in the game corrects this asymmetry better than thousands of laws and regulations.
â€¢ Ethical rules arenâ€™t universal. Youâ€™re part of a group larger than you, but itâ€™s still smaller than humanity in general.
â€¢ Minorities, not majorities, run the world. The world is not run by consensus but by stubborn minorities imposing their tastes and ethics on others.
â€¢ You can be an intellectual yet still be an idiot. â€œEducated philistinesâ€ have been wrong on everything from Stalinism to Iraq to low-carb diets.
â€¢ Beware of complicated solutions (that someone was paid to find). A simple barbell can build muscle better than expensive new machines.
â€¢ True religion is commitment, not just faith. How much you believe in something is manifested only by what youâ€™re willing to risk for it.

The phrase â€œskin in the gameâ€ is one we have often heard but rarely stopped to truly dissect. It is the backbone of risk management, but itâ€™s also an astonishingly rich worldview that, as Taleb shows in this book, applies to all aspects of our lives. As Taleb says, â€œThe symmetry of skin in the game is a simple rule thatâ€™s necessary for fairness and justice, and the ultimate BS-buster,â€ and â€œNever trust anyone who doesnâ€™t have skin in the game. Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them.â€

Country	USA
Author	Nassim Nicholas Taleb
Binding	Kindle Edition
EISBN	9780425284636
Format	Kindle eBook
Label	Random House
Manufacturer	Random House
NumberOfPages	254
PublicationDate	2018-02-27
Publisher	Random House
ReleaseDate	2018-02-27
Studio	Random House

Skin in the Game: Hidden Asymmetries in Daily Life

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