@theresnotime #PerverseIncentives

John Plender (FT) on the problem of CEO & top executives share-based 'incentive schemes:

Research (he discusses) has shown 'the bonus culture largely explains the decline in investment in the US & UK along with low productivity growth.
In a sane world CEO pay would be primarily in cash with equity used only for truly exceptional performance.... The astonishing failure of corporate governance & investor stewardship over executive pay will not be remedied any time soon'!

#perverseincentives

What if a business "going public" (#IPO) meant being converted into a cooperative? The #founder gets their cash payout for building something of value to the community by actually *selling* it to the community? Power to the people!

I want to see laws passed that help promote and incentivize this option.

#Cooperatives reduce:
* #Inequality
* #EconomicInstability
* #PerverseIncentives
* #ConflictsOfInterest

The #profit made by a cooperative goes back into the #community, and their #leadership decisions are made by the community, because they are #CommunityOwned.

That means they'll listen if you say #climate matters. They'll care if you want to look out for the #disadvantaged in your community. They won't try to rake you over the coals with #PriceGouging. They won't try to trick you with #FalseAdvertizing. They won't try to manipulate you into #overspending or #ImpulseBuys. Because "they" are YOU.

Fascinating #sensemaking discussion about the #existentialRisk of #Moloch's #perverseIncentives, #climatecrisis, zero-sum games, #AI, and #complexity
https://www.youtube.com/watch?v=KCSsKV5F4xc

The impossibility of #Democracy in a pluralistic #TwoPartySystem ....
https://thedsrnetwork.com/ruth-ben-ghiat-history/
....
aside from the experience of #PerverseIncentives therein, and within #Capitalism and #Patriarchy
....
#oh.well.or.not
....
Binary, Zero-sum propositions are on a wrong course, asking the wrong questions, and contrary to #CreativeSolutions

What an amazing location! Thanks so much for having me.
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RT @ebmatthews
Day 1 of an early career workshop: “Surviving and Thriving in Academia”, led by @yoginho. Today the problems (e.g #cultofproductivity, #perverseincentives) were framed, and tomorrow we come with solutions. I would highly recommend this to departments @EawagResearch, and abroad. https://t.co/qELicq2GYC
https://twitter.com/ebmatthews/status/1593373672194048005