Fix the incentives, fix the incentives, fix the incentives ...

Rules and incentives

Get smarter incentives.

But this is a problem of just incentives, just incentives.

And incentives not just material, but also non material incentives.

Now, how about incentives?

They have these incentives.

You need to have incentives.

No. We could offer incentives.

We would create incentives for securitization.

The reason for this is incentives.

For once, your incentives are aligned.

So those are real good incentives.

Higher incentives led to worse performance.

This shows the power of incentives.

A former member of the US Nuclear Regulatory Commission,

And it has no rules to its regulatory system.

17.Regulatory framework and criteria fortest development and use

They had deployed all the right incentives,

He was incensed by their lack of incentives.

Rules and incentives are no substitutes for wisdom.

The second tool we reach for is incentives.

Understand, however complex we may be, incentives matter.

For simple, straightforward tasks, those kind of incentives,

But their incentives are a little bit strange.

We need incentives. People have to make a living.

But anyway, maybe I'll make another video on incentives.

So, creativity counts, knowledge matters, innovations transform, incentives inspire.

It creates people when you manipulate incentives to get people to do the right thing it creates people who are addicted to incentives.

And, again, it's because of an alignment of the incentives.

We don't have a regulatory system able to ensure that that production is safe.

Lastly and most important, we rely on extrinsic incentives for learning.

We need to remove the perverse incentives to use more fuel.

If they did, the regulatory commission would shut the gas plant down, same with coal.

And it actually took being a journalist to understand all these incentives.

They asked governments for supporting regulatory regimes, and in a lot of cases they got it.

However incredibly inadequate the nuclear disaster prevention plan is, the chairman of the Nuclear Regulatory Commission,

We'd have to cut his higher brain functions without disturbing the purely automatic and regulatory systems.

There's been attempt by Monsanto to write a 'Monsanto Protection Act', it is called the Biotechnology Regulatory Act of India it's a de regulation act, but in typical Monsanto double speak, it's called a regulatory act.

So there's deep lessons for us about the nature of incentives and success.

That is to say, it creates people who only do things for incentives.

So the incentives are much larger to produce drugs which treat more people.

That can't keep going on, because economic incentives and disincentives are very powerful.

And we have two major regulatory processes that affect how alert we are at any given moment.

The truth is that neither rules nor incentives are enough to do the job.