4 ms·

Oaths are worthless. Better, swifter, and heavier prosecutions and consequences for advisory and finance institutions should be the norm. Kind words don't matt

Oaths are worthless. Better, swifter, and heavier prosecutions and consequences for advisory and finance institutions should be the norm. Kind words don't matter in a world of contracts and legal tenders.

pella 4y ago
> Oaths are worthless. Oaths must be part of the solution - along with many other things. The Hippocratic Oath has an effect and can be applied to other areas. ( like The Iatrogenics of Money ) but the life is more complex; see more: https://www.edge.org/conversation/nassim_nicholas_taleb-ten-principles-for-a-black-swan-robust-world https://www.edge.org/conversation/nassim_nicholas_taleb-ten-... like: "2. No socialisation of losses and privatisation of gains." "4. Do not let someone making an “incentive” bonus manage a nuclear plant – or your financial risks. Odds are he would cut every corner on safety to show “profits” while claiming to be “conservative”. Bonuses do not accommodate the hidden risks of blow-ups. It is the asymmetry of the bonus system that got us here. No incentives without disincentives: capitalism is about rewards and punishments, not just rewards."
- Aloha 4y ago
  I think the answer is some sort of licensing body (like the bar for layers), an oath or cannon of conduct are important too, but as a basis to regulate.
- hikingsimulator 4y ago
  If the Hippocratic oath had any sort of standing, the US wouldn't have the healthcare system it has, where the first questions often are "are you insured?", "are you in network?", "please insert your credit card here." I am barely caricaturing. Much more heavy-handed actions are needed with swift legal consequences in industries which have such an impact at a financial and legal level.
  - pella 4y ago
    Unfortunately, laws ( e.g. on universal health insurance - similar to the EU ) are made by politicians, not doctors, and they too do not have to follow strict moral ethics. Without hippocratic ethical principles, it could be much worse than it is now.

pella 4y ago

> Oaths are worthless. Oaths must be part of the solution - along with many other things. The Hippocratic Oath has an effect and can be applied to other areas. ( like The Iatrogenics of Money ) but the life is more complex; see more: https://www.edge.org/conversation/nassim_nicholas_taleb-ten-principles-for-a-black-swan-robust-world https://www.edge.org/conversation/nassim_nicholas_taleb-ten-... like: "2. No socialisation of losses and privatisation of gains." "4. Do not let someone making an “incentive” bonus manage a nuclear plant – or your financial risks. Odds are he would cut every corner on safety to show “profits” while claiming to be “conservative”. Bonuses do not accommodate the hidden risks of blow-ups. It is the asymmetry of the bonus system that got us here. No incentives without disincentives: capitalism is about rewards and punishments, not just rewards."

Aloha 4y ago
I think the answer is some sort of licensing body (like the bar for layers), an oath or cannon of conduct are important too, but as a basis to regulate.
hikingsimulator 4y ago
If the Hippocratic oath had any sort of standing, the US wouldn't have the healthcare system it has, where the first questions often are "are you insured?", "are you in network?", "please insert your credit card here." I am barely caricaturing. Much more heavy-handed actions are needed with swift legal consequences in industries which have such an impact at a financial and legal level.
- pella 4y ago
  Unfortunately, laws ( e.g. on universal health insurance - similar to the EU ) are made by politicians, not doctors, and they too do not have to follow strict moral ethics. Without hippocratic ethical principles, it could be much worse than it is now.