Skin in the Game: No Risk No Learning

Skin in the game is an economic and ethical principle whereby those who seek to gain from their activity, should also lose when things go wrong. The principal is also important for learning, skill building and human development. Because those that want to learn without taking the risks of failure, don’t receive the feedback necessary to experience what it means to make mistakes. They can study their entire lives, but actually don’t learn anything.

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COLLABORATORS (KEEP UP TO DATE)
Script: Jonas Koblin
Artist: Pascal Gaggelli
Voice: Mithril
Coloring: Nalin
Editing: Peera Lertsukittipongsa
Head of Partnership Programme: Selina Bador
Production: Bianka
Proofreading: Susan
Sound Design: Miguel Ojeda

SOUNDTRACKS
Canon Ball Swing - RimskyMusic

DIG DEEPER with these top videos, games and resources:
Should risk-takers be required to have ‘skin in the game’? - the Financial Times discusses

SOURCES
Watch Prof. Taleb talk about Skin in the Game at Google (2018)
https://youtu.be/uv6KLbkvua8

Code of Hammurabi (c. 1700 B.C.E.)
http://www.wright.edu/~christopher.oldstone-moore/Hamm.htm

Skin in the Game (the book by Taleb)
https://en.wikipedia.org/wiki/Skin_in_the_Game_(book)

Skin in the Game (phrase)
https://en.wikipedia.org/wiki/Skin_in_the_game_(phrase)

Ancient Babylon
https://www.ancient.eu/babylon/

CLASSROOM EXERCISE
Do you have “skin in the game”? Reflect with your students on how this concept applies to real life situations and ask them for ideas on how to put their skin in the game for their own learning.

In addition you can ask your students to rate the effectiveness of your teaching on a scale of 1-5 after every class. Start the next session with publishing the results and continue to do so for the entire course. Like that the students learn that you put your skin in the game and as a result might realize how the classroom experience changes.

Timestamp
00:00 Skin in the Game Principle
00:18 History
00:32 Law 229
01:17 Taleb's Argument
03:39 What do you think?
03:56 Ending