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

Rules and incentives

Get smarter incentives.

THE MONETARY SYSTEM

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.

Monetary policy is more indirect.

Monetary system Piano

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.

IMF stands for International Monetary Fund.

later turned into a monetary system.

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.

The monetary system can not create equality among people, so these solutions cannot be applied in the monetary system.

Interest rates will rise due to monetary tightening.

This is how monetary values will be displayed.

In the monetary system people are not equal.

look at the monetary value of this thing.

So in the monetary system where rewards vary.

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.

Now that you are part of the monetary system,

The monetary policy is a means to an end.

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.

So we're all sons of bitches in the monetary system.

Such a system couldn't help you in the monetary system.

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

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

Such a solution does not lead anywhere in the monetary system, because it is contrary to cyclical consumption, which the monetary system is based upon.