Those bankers may not be bad people but that reverse-Robin-Hood incentive system makes them do bad things.
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The incentive system is completely different than what prevails in private business, or in the military for that matter.
Rather, these institutions are simply responding to the perverse incentive system they confront.
Our simplistic, static and misaligned incentive system has succeeded at one thing in addition to gobbling up ever increasing amounts of US GDP: stifling creativity.
Could your own incentive system lead your employees to lose intentionally?
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One is to set up an incentive system with the banks so they really offer small savers accounts with no minimum, with no fees that are perhaps tax-exempt.
The European Commission this week offered some ideas, from more intrusive and early collective monitoring of national budgets to an incentive system where profligacy is punished by withholding EU funds.
Much of that has to do with the strange economic incentive system in the music business--acts keep most of the money made on tour, while record labels keep most of any money made from record music sales.
Restructure the fee-for-service health care incentive system.
System size: All except Portland assumed a five-kilowatt system, the average size for a residential solar installation in most of the U.S. For Portland, which has a mild climate and an incentive system that favors smaller systems, we assumed a system of three kilowatts.
If the United States provides a blanket MFN to the entire former USSR, we actually dilute our leverage to encourage reforms through a well-crafted incentive system one that would be more conducive to U.S. trade and investment and that would offer real hope for the Soviet people.
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But note that Vanguard's incentive pay system, created in 1984 by founder John Bogle , is more or less the inverse of what you would see at a for-profit firm.
Which is an absurd incentive for any system of doing anything to be offering.
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Every incentive in the system is an invitation to go the way McAllen has gone.
That's the incentive of a system that allows increased choice and competition.
Until that point, Microchip had opted for the standard, incentive-heavy system, in which base pay represented 60% of sales compensation, and commissions accounted for the remaining 40%.
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We can and should simplify the tax system by providing to the legislatures and the bureaucracies the incentive to simplify the tax system.
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Because of lack of an incentive and follow up system, that mentoring experience became more of a funny anecdote than an actual professional assist.
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Its historic buildings were not well maintained, but neither were they knocked down, since there was no incentive within the Soviet system for speculative redevelopment.
Some reformers, including Bill Gates, are finally catching on that our federally centralized, union-created system provides no incentive for better performance.
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If the incentive is compelling enough to the employee, then the system works resulting in the employee reaping the incentive and management achieving its goal.
The operating system proliferation creates incentive for developers to create apps for Android which, in turn, leads to app revenue and, most importantly, mobile advertising revenue.
University of Chicago economist and author of the famous Freakonomics books, Steve Levitt spoke to Forbes on Thursday, sharing his views on the flawed incentive schemes in the healthcare system, the debt debate, and other topics such as Dominique Strauss-Kahn, prostitution, and business.
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They admit privately that coordination was extremely ramshackle and that the bounty system used as an incentive created intra-force rivalry that hampered progress.
The system gave utilities an incentive to spend money on scrubbers to reduce emissions without exposing ratepayers to a sudden increase in electricity costs.
But Railtrack, which owns the lines and the stations and forms the core of the system, has no incentive to invest in such capacity.
The Treasury is also worried about another big distortion caused by the corporate tax system the incentive it gives to use debt rather than equity finance.
They have a big incentive to take care of the system, because if any one of them causes a blockage to his pipe, his neighbours will be in trouble too.
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