> We should stop trying to pay for good work, and instead, try to hire people who like doing good work and damn the pay. This is in line with the traditional folk wisdom of Cambridge: “hire good people and let them get on with it”. > Lastly, to make the economists less greedy, they should be paid less. Ha, I needed a good chuckle in the morning. I'll be damned if I accept a job where they except high-quality work for…
Incentives in economics are wrong, but how?
11–20 of 163 posts
Re: Incentives in economics are wrong, but how?
#12> We should stop trying to pay for good work, and instead, try to hire people who like doing good work and damn the pay. This is in line with the traditional folk wisdom of Cambridge: “hire good people and let them get on with it”. > Lastly, to make the economists less greedy, they should be paid less. Ha, I needed a good chuckle in the morning. I'll be damned if I accept a job where they except high-quality work for…
There’s a reason the saying is “Science progresses one death at a time”, and not “Science progresses by being sexual-harassment apologists”
Re: Incentives in economics are wrong, but how?
#13> We should stop trying to pay for good work, and instead, try to hire people who like doing good work and damn the pay. This is in line with the traditional folk wisdom of Cambridge: “hire good people and let them get on with it”. > Lastly, to make the economists less greedy, they should be paid less. Ha, I needed a good chuckle in the morning. I'll be damned if I accept a job where they except high-quality work for…
Re: Incentives in economics are wrong, but how?
#14Re: Incentives in economics are wrong, but how?
#15Maybe the incentives for universities are all wrong. In the early 1900's only 4% of the US went to university. There ended up being a big push to get more people into college with the assumption that it would benefit society. Eventually we ended up with a notion that everyone should go to college and this has been buttressed with government support but what if this idea is wrong? What if the incentives created lots o…
(Saying this as someone who never finished college/university, largely because I was trying to pay for it myself and couldn't make it work.)
Re: Incentives in economics are wrong, but how?
#16Maybe the incentives for universities are all wrong. In the early 1900's only 4% of the US went to university. There ended up being a big push to get more people into college with the assumption that it would benefit society. Eventually we ended up with a notion that everyone should go to college and this has been buttressed with government support but what if this idea is wrong? What if the incentives created lots o…
> This may show up as lots of superfluous/unreproducible papers and journals many not even based on the scientific method.
seems very STEM-centric. It sounds like you're saying academia outside of the realm of science is useless which I completely disagree with.
Re: Incentives in economics are wrong, but how?
#17> We should stop trying to pay for good work, and instead, try to hire people who like doing good work and damn the pay. This is in line with the traditional folk wisdom of Cambridge: “hire good people and let them get on with it”. > Lastly, to make the economists less greedy, they should be paid less. Ha, I needed a good chuckle in the morning. I'll be damned if I accept a job where they except high-quality work for…
Re: Incentives in economics are wrong, but how?
#18Maybe the incentives for universities are all wrong. In the early 1900's only 4% of the US went to university. There ended up being a big push to get more people into college with the assumption that it would benefit society. Eventually we ended up with a notion that everyone should go to college and this has been buttressed with government support but what if this idea is wrong? What if the incentives created lots o…
This is basically my feeling as well. I would prefer that we (at least in the U.S.) focus on making high school much much better, to the point that fewer people have any need to go to college/university. And then, if we still need to, figure out what to do about University. (Saying this as someone who never finished college/university, largely because I was trying to pay for it myself and couldn't make it work.)
Re: Incentives in economics are wrong, but how?
#19Maybe the incentives for universities are all wrong. In the early 1900's only 4% of the US went to university. There ended up being a big push to get more people into college with the assumption that it would benefit society. Eventually we ended up with a notion that everyone should go to college and this has been buttressed with government support but what if this idea is wrong? What if the incentives created lots o…
This is basically my feeling as well. I would prefer that we (at least in the U.S.) focus on making high school much much better, to the point that fewer people have any need to go to college/university. And then, if we still need to, figure out what to do about University. (Saying this as someone who never finished college/university, largely because I was trying to pay for it myself and couldn't make it work.)
[1]https://www.spiegel.de/start/ausbildung-im-handwerk-in-den-k...
Re: Incentives in economics are wrong, but how?
#20Maybe the incentives for universities are all wrong. In the early 1900's only 4% of the US went to university. There ended up being a big push to get more people into college with the assumption that it would benefit society. Eventually we ended up with a notion that everyone should go to college and this has been buttressed with government support but what if this idea is wrong? What if the incentives created lots o…
Agree with your larger point but: > This may show up as lots of superfluous/unreproducible papers and journals many not even based on the scientific method. seems very STEM-centric. It sounds like you're saying academia outside of the realm of science is useless which I completely disagree with.