today we depend on the press for such essentially human things as gossip and anecdotes and we care about the private lives of people in very remote p… - Nassim Nicholas Taleb

An honest person will never commit criminal acts, but a criminal will readily engage in legal acts.

Further, skin in the game creates diversity, not monoculture. Economic insecurity worsens the condition. Journalists are currently in the most insecure profession you can find: the majority live hand to mouth, and ostracism by their friends would be terminal. Thus they become easily prone to manipulation by lobbyists, as we saw with GMOs, the Syrian wars, etc. You say something unpopular in that profession about Brexit, GMOs, or Putin, and you become history. This is the opposite of business where me-tooism is penalized.

Consider a more extreme example than the casino experiment. Assume a collection of people play Russian roulette a single time for a million dollars — this is the central story in Fooled by Randomness. About five out of six will make money. If someone used a standard cost-benefit analysis, he would have claimed that one has an 83.33 percent chance of gains, for an “expected” average return per shot of $833,333. But if you keep playing Russian roulette, you will end up in the cemetery. Your expected return is … not computable.