Taleb's Skin in the Game seem to be related to this, but from a different optic. Goodhart's Law is also mentioned, but is not the core argument. In the end, is about agency, who have it, and system dynamics to get rid of responsibility.
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The modern company is a very very limited liability company:
- Cut corners so your jets crash and kill people (Boeing)?
- Cheat on emissions testing so your product kill people (VW)?
- Hush up drug trial results so you kills people (Pfizer)?
- Sloppy security leads to hundreds of millions of people's personal data being leaked (too many to mention)?
What happens to those in charge? Nothing. Perhaps they leave with a big golden handshake. If it's really bad, they get a don't do it again agreement with the Feds.
No accountability means no feedback/skin in the game. So nothing gets better.