Sublime

But it can also go the other way. What economics has missed is that adding an incentive—a fine or a bonus—may be subtracting something else, the individual’s sense of responsibility, or obligation, or intrinsic pleasure.

(This kind of scheme is currently being pioneered in Scandinavia, where governments follow the motto “Protect workers, not jobs.”)

Good policy uses incentives to channel behavior toward some desired outcome. Bad policy either ignores incentives, or fails to anticipate how rational individuals might change their behavior to avoid being penalized.

Bill doesn’t know what hiring people is all about. He wants to learn it all. He’s a total learn-it-all guy. He was asking me questions: ‘How do you spend your time? How do you recruit? What do you look for? What do you ask people? What do you do?’ ” “He’s pretty humble,” said Rachleff. Beirne agreed, and added, “He does a very good job at the shows

On November 19, 1933, the AAA announced that the Fourteenth Congressional District of Texas had the best loan-repayment record of any of the nation’s 435 congressional districts. And in 1934, the district received the type of “consideration” Johnson had had in mind; it was the first congressional district to have every one of its crop-reduction loa