Skin in the Game: Hidden Asymmetries in Daily Life

Summary

In the book «Skin in the Game: Hidden Asymmetries in Daily Life», Nassim Nicholas Taleb explores the concept of risk asymmetry and responsibility across various areas of life. The author argues that many of today's societal issues stem from decision-makers not bearing personal responsibility for the outcomes of their actions. Taleb emphasizes the importance of the principle of having «skin in the game», where those making decisions should be exposed to the risks associated with their actions. He examines examples from history, business, politics, and science to illustrate how risk asymmetry affects society and how the system can be improved to make it fairer and more sustainable. The book encourages readers to reflect on the importance of personal responsibility and how its absence can lead to negative consequences.