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Ralph Nader Radio Hour

Skin in the Game

Ralph Nader Radio Hour

Ralph Nader

Government, News

4.81.1K Ratings

🗓️ 10 March 2018

⏱️ 56 minutes

🧾️ Download transcript

Summary

Former derivatives trader turned philosophical essayist,Nassim Nicholas Taleb, joins us to talk about his new book, ‘Skin in the Game,” about the role risk and reward plays not only in politics but also our daily lives.



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Transcript

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0:00.0

From the K-P-F-K studios in Southern California,

0:03.6

it's the Ralph Nader Radio Hour.

0:05.7

Stand up, stand up.

0:07.8

You've been sitting great to jump.

0:18.6

Welcome to the Ralph Nader Radio Wower. My name is Steve Scrovan along with my co-host David Feldman. Hello David. Hello Steve, hello Ralph.

0:22.0

Hello?

0:24.0

That voice you hear is the man of the hour.

0:26.0

Ralph Nader.

0:27.4

Good to hear your voice there, Ralph, who had a birthday recently.

0:30.6

Happy birthday, by the way.

0:32.2

Thank you. Yeah, we won't, by the way. Thank you.

0:33.0

Yeah, we won't get into the numbers.

0:35.0

Or whether you could actually blow it all those candles on the cake, but we're very happy you're here.

0:40.8

Thank you.

0:42.0

And on today's show, we're going to talk about social justice and the role that risk-taking plays

0:48.0

in achieving it.

0:49.0

We've all heard the expression, skin in the game, and that refers to the risk one is willing to take to achieve a goal

0:55.6

and decision-makers tend to risk more when they don't have enough skin in the game

1:00.4

when they have very little to lose. We saw this with bankers and the financial

1:04.9

crisis. The bankers are made whole and the rest of us pay the price. The same applies to war.

1:10.6

It's easy for a president or a congressperson to send other people a war when you or anyone you love doesn't have to actually fight it

1:17.4

The same applies to decisions we make in everyday life

...

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