Markets only sort everything out if the incentives are right. Stock markets are efficient because people can make money out of predicting future prices. But peo

Markets only sort everything out if the incentives are right. Stock markets are efficient because people can make money out of predicting future prices. But people don't always benefit from making good hiring decisions. They might even be punished for hiring the best, because companies are made out of competing individuals, and an excessively good candidate could make them look worse by comparison. Hiring markets are optimized for ass-covering, not profit. The experience requirements let people deflect the blame if anything goes wrong.