Why Do People Work Hard When They Have No Economic Incentive To Do So?

Let’s play a game. I will name two forms of football and you tell me which you think offers better incentives to players. On the one hand is soccer, the world famous sport which receives huge funding from sponsorship, merchandise and ticket sales. This allows large investment in the sport and the ability to pay good (sometimes even exorbitant) wages. On the other hand is Gaelic Football, played only by Irish people mainly in Ireland. Unlike soccer, it is an amateur sport and none of its players get paid. All athletes must also have full time jobs, meaning they can only train in the evenings after work.

This should be obvious. Continue reading “Why Do People Work Hard When They Have No Economic Incentive To Do So?”

Advertisements

Why I Will Vote For Bernie Sanders

America has a serious problem with inequality. The gap between the rich and the poor is one of the widest among developed nations and has reached levels last seen in the Roaring Twenties before the Great Crash. Although the productivity and wealth of the nation have grown rapidly, the wages of ordinary workers have stagnated. Average wages have remained more or less the same for forty years. While wealth becomes increasingly concentrated in fewer and fewer hands, more and more people fall into poverty. Unions have had their strength drained from them and adjusted for inflation, the minimum wage is lower than it was fifty years ago. To be successful in America nowadays has less to do with your skill and abilities and more to do with where you were born and how rich your parents were. Continue reading “Why I Will Vote For Bernie Sanders”