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That's... not what slavery is. That analogy is extremely poor compared to using securities derivatives, which is a field Taleb is familiar with. Edit: also, is

That's... not what slavery is. That analogy is extremely poor compared to using securities derivatives, which is a field Taleb is familiar with. Edit: also, is this feature of salaried employment so misunderstood as to require an analogy? You get paid a fixed amount, or with specified bonus structure. It's literally the number one fact people know about their employment contracts.

someguydave 8y ago
> also, is this feature of salaried employment so misunderstood as to require an analogy? I would argue yes. Many professionals like engineers and programmers can point to contributions they made to the corporation that have been sold for many times their annual salary. How many of those professionals consider the fact that they could have sold their design for themselves and pocketed the revenue? This is related to Coase's question: why have a firm in the first place? In modern times it seems that ongoing disaggregation of businesses and reduced transaction costs in software would cause more professionals to consider working for themselves, rather than selling their (potential, uncertain, unlimited) profits for a (certain, fixed) income.