3 ms·
While this story was initially against the hubris of controlling a complex system through incentives, since second or third order effect are hard to predict, I
by mihaic 3y ago
While this story was initially against the hubris of controlling a complex system through incentives, since second or third order effect are hard to predict, I think over time the takeaway has degenerated into "you can't have any centrally pushed incentives".
Not sure when the aim to strike a balance was lost.
- smallmancontrov 3y agoAlso, perverse incentives arise spontaneously all the time. Business types love talking about this, they will talk your ear off about it, but only from the angle that looks to exploit them as tactics or strategic moats with studiously suppressed consideration for the first order effects let alone second or third. If you so much as hint that you think maybe there ought to be a countervailing force somewhere, suddenly COBRA EFFECT HOW DARE YOU COMMUNIST CENTRAL PLANNING ECONOMIC ILLITERATE FILTH! It leaves me with the distinct impression that nobody really believes in the system, let alone "warts and all," and instead just grabs the nearest self-serving principle off the shelf to rationalize whatever they want to do.