Principles For A New Party

I stopped being a Republican when I realized the party was more concerned with protecting the rights of corporations over individuals; with socializing risks and privatizing rewards; and in general just representing ignorance in economics and history. Not that I can comfortably call myself a Democrat either. But I can support Obama because I believe him to be a pragmatist. The best description of my leanings is Liberaltarian.

I was reminded of the need for a new political party by Nassim Nicholas Taleb at FT: Ten principles for a Black Swan-proof world
The abbreviated list is:

1. What is fragile should break early while it is still small. Nothing should ever become too big to fail. .

2. No socialisation of losses and privatisation of gains.

3. People who were driving a school bus blindfolded (and crashed it) should never be given a new bus.

4. Do not let someone making an “incentive” bonus manage a nuclear plant – or your financial risks.

5. Counter-balance complexity with simplicity.

6. Do not give children sticks of dynamite, even if they come with a warning.

7. Only Ponzi schemes should depend on confidence.

8. Do not give an addict more drugs if he has withdrawal pains.

9. Citizens should not depend on financial assets or fallible “expert” advice for their retirement.

10. Make an omelette with the broken eggs.