Taleb on debt and risk and short termism

I wrote about Dr. Taleb and his hatred of debt, the author of Black Swan. He is in the news for two new video interviews. He would seem to be sympathetic with the ideas and proposals here. Replace debt with equity--although I give a share to the workers We want to be in a society where it protects against adverse events--again the share economy. And we are rewarding short-termism. Let's hold up people's pay and reward and incentives for a long time to see if they are truly acting in the long term best interest of whomever they are supposed to be working for, the students, the nation, the stakeholders or shareholders in the broad sense of the firm.

Nassim Nicholas Taleb, Black Swan, On Debt

My alma mater, Polytechnic Institute, now Polytechnic Instiute of New York University, hired Nassim Nicholas Taleb, of Black Swan fame. He said, "a complex financial system cannot tolerate debt" because debt "doesn't allow someone to make mistakes."

Of course, here I advocated the share economy, an economy without debt, and without nonlinearity as everything is a percentage of everything else.

Source, Polytechnic Cable, Spring 2009, page 7 to 8, Volume 36 No Two.