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The world in which we live is complex and eludes our sense-making faculties. These people monopolize positions of authority and routinely take decisions to intervene in that complex world, without however doing the effort to think through the cascading impacts of these decisions and being conveniently isolated from any tangible repercussions on themselves.
In other words, these people have nothing at stake. They have no skin the game. The absence of skin in the game comes with undesirable epistemological consequences.
Because people who are isolated from the impacts of their decisions do not learn. They remain captive to their erroneous ideas about how the world works. Sooner or later this is going to cause a lot of trouble.
As our technological powers grow and our systems mushroom and interconnect, the likelihood of catastrophic downside consequences ratchets up too.
Absence of skin in the game also leads to objectionable ethical consequences.
It leads to an inequitable distribution of risks and resources in society. To mitigate adverse effects of incautious and irresponsible courses of action, authorities are wont to create an ever more granular web of rules Thesis theme thesis skin manager regulations.
Getting rid of these regulations is much harder than to create them.
But opportunistic operators with deep pockets always find loopholes in this tangle. Now, what can we do about this?
We need to compartmentalize risks by focusing on our immediate environment. We need to decentralize and reduce the scale of the systems we meddle with.
We need to honor the precautionary principle: Rather than masterplans and fixed strategies we need practical ethical and operational rules to guide local experimentation and problem solving.
Insisting that as many people in the community should have skin in the game is ethically sound. The principle emerges at the intersection of three main ethical systems: Kantian, consequentialism, and classical virtue. Taleb puts great store in the property of ergodicity. I understand it to work at different logical levels.
Not having skin in the game leads to a non-ergodic system, i. So, in a non-ergodic system a person who gets rich will stay rich. Perfect ergodicity would imply that each person, should s he live forever, would spend a proportion of the time in the economic conditions of the entire cross-section.
At the higher logical level, ergodicity links my personal fate to the fate of the community and larger ecosystem from which I am part. Loss of my personal life is a necessity to lower the risk for the collective as shorter shelf life for humans allows genetic changes across generations to be in sync with the variability of the environment.
A small, intransigent group in society is able to impose its preferences on a much larger flexible group because of the asymmetry in choices that defines their relationship at least as long as the minority group is not spatially ghettoized and the cost structure associated with their preferences is more or less comparable to the original societal norm.
Vice versa, we need to mindful about the fact that the minority rule can also be used to advance extremist agendas. He is a genuine systems thinker, informed by a deep knowledge of probability theory and what that means for how we ought to deal with risk and uncertainty.
Now the challenge is not only to read the book, but also to absorb it and reflect it in the conduct of one's life.Our Thesis Skins are best suitable for Thesis Theme , Best Thesis Skins for blog and websites. We will give Niche based Thesis Skins for Thesis Theme and also we put Thesis Theme Tutorials.
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Date of Birth: January 16, Place of Birth: Brooklyn, New York City, New York, U.S. Date of Death: August 25, 1st Fire sign - 1st Cardinal sign (spring equinox) - Masculine.
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