Nassim Taleb’s “Skin in the Game” [LINK] is certainly no Procrustean Bed !!! It is a phenomenal piece of writing that moves closer to complete a major part of the author’s Incerto endeavors. This work exposes a fresh angle on an age-old risk management dilemma of 'Counterparty Equitability' or perhaps the way different entities should honor obligations they face in the backdrop of uncertainty.
In today’s post-Global Financial Crisis world, how entities ethically trade uncertainty is a new theme that is gathering momentum among various risk management communities. This book quite simply cracks the topic wide open in an invigorating manner, but also from a wide variety of perspectives. It takes in but is not limited to the legal considerations under torts, asymmetry in social constructs and agency problems that may be found in geopolitics, and in that, there is this sense that there is something here for everyone in this publication.
In true Nassim style, Taleb does not disappoint and like his previous work on Antifragile or The Black Swan, he has this most eloquent and at times, entertaining way of putting forward tight read concepts. As an example, untangling torts is far from novel to the practice of law, it’s a dry topic that probably wouldn’t capture that much interest from an average reader but not so in Skin in the Game.
The book doesn’t pretend to be practice or guidance, but the publication can present such material from a commercial domain in a grippingly exciting manner that is refreshing. Be warned; there may be some incongruence with how the populous probably accepts how the planet works and how Nassim unapologetically takes swings at various groups of people from economists to big agricultural firms, it will at times make you chuckle or cry.
The governance trend today of corporate culture or ethics specifically, is a trending movement that is gaining momentum and Skin in the Game is ahead of the curve in this respect.
So far, I am about half the way through the book, but life has been busy for me in 2018 with too many distractions, including travel to nine countries and yet it’s only March. Anyway, we will try and explore some of the paradoxes addressed in Skin in the Game in the coming months ahead on our blogs. In the meantime; those people working in risk management or corporate governance will probably find the book a curious and informative read ~ I recommend taking a look with the caveat that there will also be those who find their beliefs challenged at times, right up to the cusp of repugnancy.