“There is an ontological darkness in centralized power, and it flows from the disconnect between authority, responsibility and consequence. A leader with vast centralized powers–a president, an emperor, a dictator–has the authority to send young citizens into combat in distant lands, but he does not carry an equal responsibility to ensure their lives are not lost in the vain glories of Empire. The consequences of his decisions do not fall on him; he is far from the combat and the loosed dogs of war. His concern is the domestic political squabbles of the Elites who support his centralized power.” – Charles Hugh Smith, Weblog and Essays.

Externalities, Skin in the game (aka symmetrical risk)….it is always about linking consequences to actions and understanding second and even third order effects.