{"id":122224,"date":"2018-06-08T13:50:15","date_gmt":"2018-06-08T21:50:15","guid":{"rendered":"http:\/\/lukeford.net\/blog\/?p=122224"},"modified":"2023-05-25T04:17:31","modified_gmt":"2023-05-25T12:17:31","slug":"kevin-michael-grace-book-club-nassim-nicholas-talebs-skin-in-the-game","status":"publish","type":"post","link":"https:\/\/lukeford.net\/blog\/?p=122224","title":{"rendered":"Kevin Michael Grace Book Club: Nassim Nicholas Taleb&#8217;s Skin in the Game (6-8-18)"},"content":{"rendered":"<p><script>!function(r,u,m,b,l,e){r._Rumble=b,r[b]||(r[b]=function(){(r[b]._=r[b]._||[]).push(arguments);if(r[b]._.length==1){l=u.createElement(m),e=u.getElementsByTagName(m)[0],l.async=1,l.src=\"https:\/\/rumble.com\/embedJS\/uajap1\"+(arguments[1].video?'.'+arguments[1].video:'')+\"\/?url=\"+encodeURIComponent(location.href)+\"&args=\"+encodeURIComponent(JSON.stringify([].slice.apply(arguments))),e.parentNode.insertBefore(l,e)}})}(window, document, \"script\", \"Rumble\");<\/script><\/p>\n<div id=\"rumble_v2n4mnp\"><\/div>\n<p><script>\nRumble(\"play\", {\"video\":\"v2n4mnp\",\"div\":\"rumble_v2n4mnp\"});<\/script><\/p>\n<p><A HREF=\"https:\/\/www.amazon.com\/dp\/B075HYVP7C\/ref=dp-kindle-redirect?_encoding=UTF8&#038;btkr=1\">Skin in the Game: Hidden Asymmetries in Daily Life<\/a><\/p>\n<blockquote><p>#1 NEW YORK TIMES BESTSELLER \u2022 A bold new work from the author of The Black Swan that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility<\/p>\n<p>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 one\u2019s own risks is an essential attribute of heroes, saints, and flourishing people in all walks of life.<\/p>\n<p>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:<\/p>\n<p>\u2022 For social justice, 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.<br \/>\n\u2022 Ethical rules aren\u2019t universal. You\u2019re part of a group larger than you, but it\u2019s still smaller than humanity in general.<br \/>\n\u2022 Minorities, not majorities, run the world. The world is not run by consensus but by stubborn minorities imposing their tastes and ethics on others.<br \/>\n\u2022 You can be an intellectual yet still be an idiot. \u201cEducated philistines\u201d have been wrong on everything from Stalinism to Iraq to low-carb diets.<br \/>\n\u2022 Beware of complicated solutions (that someone was paid to find). A simple barbell can build muscle better than expensive new machines.<br \/>\n\u2022 True religion is commitment, not just faith. How much you believe in something is manifested only by what you\u2019re willing to risk for it.<\/p><\/blockquote>\n<p><iframe width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/ezhjumayRsg\" frameborder=\"0\" allow=\"autoplay; encrypted-media\" allowfullscreen><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Skin in the Game: Hidden Asymmetries in Daily Life #1 NEW YORK TIMES BESTSELLER \u2022 A bold new work from the author of The Black Swan that challenges many of our long-held beliefs about risk and reward, politics and religion, &hellip; <a href=\"https:\/\/lukeford.net\/blog\/?p=122224\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[162],"tags":[],"class_list":["post-122224","post","type-post","status-publish","format-standard","hentry","category-economics"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/122224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=122224"}],"version-history":[{"count":6,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/122224\/revisions"}],"predecessor-version":[{"id":148036,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=\/wp\/v2\/posts\/122224\/revisions\/148036"}],"wp:attachment":[{"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=122224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=122224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lukeford.net\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=122224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}