Skin in the Game: No Risk No Learning

Published February 17, 2022 4,538 Views

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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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.

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

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