A Quote by Michael Lewis
The incentive for the outsider is to attack the system right up to the moment he is co-opted by it. The incentive for the insider -and this took some getting used to- is to allow yourself to be attacked, and then co-opt your most ferocious attackers, and their best ideas. The effect on the system as a whole is to make it more stable, because everyone winds up working on its behalf.
Related Quotes
I think things that contribute to the destruction of our free-incentive system are wrong. A trend against that free-incentive system is wrong, and should only be temporarily engaged in, in the event that war or something of that kind requires it. Otherwise, it should be reduced.
We have this highly irrational system of incentivizing innovation for clean and green technologies, where we allow the innovator to have a temporary monopoly and then mark up the price of the product or sell licenses at high prices to those who want to use the kind of product that the innovator has invented. This system is collectively irrational because many people, to avoid the inflated prices of still-patented cleaner and greener technologies, opt for some older technology that is much more polluting.
Medical costs are soaring because our health-care system is totally screwed up. Doctors and hospitals have every incentive to spend on unnecessary tests, drugs, and procedures.
Any property that's open to common use gets destroyed. Because everyone has incentive to use it to the max, but no one has incentive to maintain it.
Over the last few years a lot of people have become aware of the inequities in the criminal justice system, right now, with our overall crime rate and incarceration rate both falling, we're at a moment when some good people in both parties, Republicans and Democrats and folks all across the country, are coming up with ideas to make the system work smarter and better.
We need a Supreme Court that will stand up on behalf of women's rights, on behalf of the rights of the LGBT community, that will stand up and say no to Citizens United, a decision that has undermined the election system in our country because of the way it permits dark, unaccountable money to come into our electoral system.
When you suffer an attack of nerves you're being attacked by the nervous system. What chance has a man got against a system?
When you suffer an attack of nerves you're being attacked by the nervous system. What chance has a man got against a system?.
I think that if you have a single payer system and an opt-out for people who want to pay more [for better service, etc.], I think it would be better - and I think we'll eventually get there. It wouldn't be better at the top - [our current system] is the best in the world at the top. But the waste in the present system is awesome and we do get some very perverse incentives.
We've been paying for 100 percent of preventive care. But if you're not getting annual physicals, then you're not going to gain a financial incentive, so effectively your insurance premium with us will go up.
When it comes to public policy, doing the right thing is more important than doing it for the right reason. The best way to get people to do what's right collectively is to make it the best thing for them to do individually. You have to give individuals a personal incentive to do what's right for society.
Conservatives say if you don't give the rich more money, they will lose their incentive to invest. As for the poor, they tell us they've lost all incentive because we've given them too much money.
Along with Trump, there are few people, on either the right or the left, who would defend the system. The system is, everyone believes, broken: it's an insider's game; it's totally fixed; it serves itself. Trump codified this into a simple and vivid idea: the swamp.
You definitely go through a stage, most coaches do, where you see a good player and you get enamored, you really like what the player does, but then when you put him into your system, it's not quite the same player that he was in another system. He has some strengths, but you cant utilize all those strengths. If you try to utilize all his strengths, you end up weakening a lot of other players who are already in your system.
I'm trying to work out a way to be a singer and to create cool content. I'm willing to do that as an entertainer. But I'm not willing to give up my actual self. And the way the system is built up, there'll be a backlash soon. Just recently some people published 11 photos of Sia's face. It's a bummer for me because it's going to elevate my profile and make me more recognizable. But I don't look the same as I did when I used to have my photo taken. Music is for your ears, not your eyes, right? But film is for your eyes, and I would like to give you something.
You have to ask yourself the question, do you have the smartest people in the world working for your company? And if you do, you're lucky. But if you don't, put up the incentive. And have someone who is absolutely brilliant who's a 22-year old in India who says what about this way? And who revolutionizes the way you do business.
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