“People generally are reluctant to accept the fact that paying performance bonuses make things worse not better – the executives themselves are certainly in denial – but there is wealth of research to show this is the case. A recent paper by Michael Cooper, Huseyin Gulen and Raghavendra Rau says bluntly: “we find evidence that chief executive pay is negatively related to future stock trends.””
A. Hilton, Evening Standard, 3 July.
i highly recommend to watch this documentary Future of Hope which is about Iceland after the recent financial crisis and the new thinking and chances it is going through now as a society. It is a documentary about sustainability and ‘enoughness’..it is about new type of democracy, a crowd-sourced democracy
it will definitely make you think..
“The airline industry benefits from every mistake ever made anywhere on the planet. Any pilot who makes a mistake anywhere on the planet today will make your next flight safer. The banking industry is the opposite. Every mistake takes the banking system closer to total collapse. One system is antifragile, the other is fragile. The banking system failed because it was built for order and not built for the unpredictable.”
Professor Nassim Nicholas Taleb, author of “Black Swan”
even to a 12 years old is clear how economies got into the mess of debt and banking crisis. this is brilliant!