Hi orda,
I think the philosophy that says the winners win because they contribute more becomes a kind of vanity. They really believe they are the job creators. Just like Wall Street's titans look in the mirror and think they are generating some kind of net economic value that justifies their bonuses. And some corporate CEOs think they are doing a great thing by hollowing out decent businesses to generate short run profits, while investing as little as possible in the long run.
Somehow.
Folks talk perverse incentives. Funny thing is, I agree that most reward structures have unexpected effects. Let's start by looking at the wealthiest 0.01% and work our way down.
Ha ha. We're back to Wave territory. And how the market provides broad and safe harbours for corporate chiefs.
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