Life has to be an acquired taste; people lose their heroism and get more and more scared of death as they age.
Author Archives: Nassim Nicholas Taleb
The Souk and the Office Buildingwww.fooledbyrandomness.com/souk.pdf
The Souk and the Office Building
www.fooledbyrandomness.com/souk.pdf
Hammurabi’s code, ~3800 years ago, removed the agency problem as a condition for transaction: "If a builder builds a house and the house collapses and causes the death of the owner – the builder shall be put to death. If it causes the death of the son of the owner , a son of that builder shall be put to death."Everything in past 100 years has been to shield managers from liabilities. Think of Fukushima.
Hammurabi’s code, ~3800 years ago, removed the agency problem as a condition for transaction: “If a builder builds a house and the house collapses and causes the death of the owner – the builder shall be put to death. If it causes the death of the son of the owner , a son of that builder shall be put to death.”
Everything in past 100 years has been to shield managers from liabilities. Think of Fukushima.
DECIMATION as removal of agency problem- The Romans removed one’s incentive to be a coward and hurt others by withdrawing from combat. If a legion loses a battle and there is suspicion of cowardice, ten percent of the surviving soldiers and commanders are put to death, usually by random lottery.
DECIMATION as removal of agency problem- The Romans removed one’s incentive to be a coward and hurt others by withdrawing from combat. If a legion loses a battle and there is suspicion of cowardice, ten percent of the surviving soldiers and commanders are put to death, usually by random lottery.
A simple heuristic to solve current problems. We should force tobacco lobbyists to smoke, etc.
A simple heuristic to solve current problems.
We should force tobacco lobbyists to smoke, etc.
http://www.fooledbyrandomness.com/ethics.pdf
www.fooledbyrandomness.com