ESCP Europe

In this book, Nassim Nicholas Taleb explains that decisions should always be made by those who will bear the consequences. He describes how societies become unjust and fragile when some take risks without paying the price (bankers bailed out after crises, experts never punished) while imposing those same risks on others. Finally, he develops concepts such as the symmetry of risk (gains and losses should be shared), responsibility (one should not advise or decide without being exposed to the consequences), practical ethics (moral rules come from experience and real risk, not just theory), and a critique of elites disconnected from reality.