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El problema de los bonos en el sistema financiero

Excelente nota de Nassim Taleb, a quien seguro conozcan por El Cisne Negro, sobre el problema con los bonos en el sistema financiero y el verdadero problema que hay, End Bonuses for Bankers:

“Critics like the Occupy Wall Street demonstrators decry the bonus system for its lack of fairness and its contribution to widening inequality. But the greater problem is that it provides an incentive to take risks. The asymmetric nature of the bonus (an incentive for success without a corresponding disincentive for failure) causes hidden risks to accumulate in the financial system and become a catalyst for disaster. This violates the fundamental rules of capitalism; Adam Smith himself was wary of the effect of limiting liability, a bedrock principle of the modern corporation.”

La falta de responsabilidad frente a las fallas, errores y omisiones implica una desbalance en el sistema:

Hammurabi’s code specified this: “If a builder builds a house for a man and does not make its construction firm, and the house which he has built collapses and causes the death of the owner of the house, that builder shall be put to death.”

En serio vale la pena leer la nota completa porque da razones ultracapitalistas para un problema intrínseco del sistema financiero global.