The problem is that the market itself is best at rewarding those who contribute in an economically meaningful (more efficient or innovative, less costly) way.

The problem is that the market itself is best at rewarding those who contribute in an economically meaningful (more efficient or innovative, less costly) way. Rewarding only effort encourages people to focus on working harder but not smarter as well, leading to less economically productive results. Also, it's easier to look busy than to be busy.