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aparth's review
4.0
Very well-written and thought provoking read packed full of sometimes witty anecdotes and examples from pop culture and history - some of which you may have heard before and some of which are fresh.
Sometimes it feels like Murphy goes off on tangents about the topics he's interested in, but thanks to his engaging writing style and interesting perspective I didn't mind at all and was happy to be taken along for the ride. You get the sense that he'd be good value at a dinner party (eg. questioning the shaky logic behind a Hollywood movie: The Hunger Games).
The climate change section risked becoming a bland retelling of facts and/or political but was none of those in the end. He succeeded in his aim to get the reader to think about how a system of incentives would actually help us get what we want in the most environmentally sensitive way, rather than perpetuate the blame game and rhetoric that we get in reality.
However I couldn't quite agree with some key elements of his thesis that we need concrete incentives for the world to work. An example is his narrative-framing ball catching analogy, in which his father pays his young self $1 to catch a ball. In suggesting this is a good thing, he seems to have conveniently forgotten that the dollar incentive didn't actually result in him improving his sporting ability or motivate him to aspire towards a sporting future.
It was pure bribery that, in the case of children, may stunt the development of intrinsic motivation to do what makes you happy/be a good person etc.
Research (hopefully not shoddy!) has recently noted that incentivising yourself to exercise (by rewarding yourself or forcing yourself to pay a fine for missed gym visits) is ineffective. Only a developed intrinsic desire to exercise because you LIKE it succeeds in getting gym results (unless you are a black/white thinking highly trainable type - which few of us are!)
It would have been great if Murphy had delved more into the realm of intrinsic incentives. For example, praising one's effort as a reward (thus encouraging more attempts at things) or using narratives about the benefits of community to use as an incentive (some cultures build up love for community to incentivise - and this can lead to a great common good).
If anything, the topics in the book, while real and revealing, showed more examples of "system gaming", failed incentives and institutional failure. Murphy suggests we work to tweak these holey incentive programs, but could it be because we rely so much a hard rewards and punishments we have these issues in the first place?
Great read though.
Sometimes it feels like Murphy goes off on tangents about the topics he's interested in, but thanks to his engaging writing style and interesting perspective I didn't mind at all and was happy to be taken along for the ride. You get the sense that he'd be good value at a dinner party (eg. questioning the shaky logic behind a Hollywood movie: The Hunger Games).
The climate change section risked becoming a bland retelling of facts and/or political but was none of those in the end. He succeeded in his aim to get the reader to think about how a system of incentives would actually help us get what we want in the most environmentally sensitive way, rather than perpetuate the blame game and rhetoric that we get in reality.
However I couldn't quite agree with some key elements of his thesis that we need concrete incentives for the world to work. An example is his narrative-framing ball catching analogy, in which his father pays his young self $1 to catch a ball. In suggesting this is a good thing, he seems to have conveniently forgotten that the dollar incentive didn't actually result in him improving his sporting ability or motivate him to aspire towards a sporting future.
It was pure bribery that, in the case of children, may stunt the development of intrinsic motivation to do what makes you happy/be a good person etc.
Research (hopefully not shoddy!) has recently noted that incentivising yourself to exercise (by rewarding yourself or forcing yourself to pay a fine for missed gym visits) is ineffective. Only a developed intrinsic desire to exercise because you LIKE it succeeds in getting gym results (unless you are a black/white thinking highly trainable type - which few of us are!)
It would have been great if Murphy had delved more into the realm of intrinsic incentives. For example, praising one's effort as a reward (thus encouraging more attempts at things) or using narratives about the benefits of community to use as an incentive (some cultures build up love for community to incentivise - and this can lead to a great common good).
If anything, the topics in the book, while real and revealing, showed more examples of "system gaming", failed incentives and institutional failure. Murphy suggests we work to tweak these holey incentive programs, but could it be because we rely so much a hard rewards and punishments we have these issues in the first place?
Great read though.
empressfischer's review
5.0
Knowledge of Economics -- as basic as it may be -- will help you understand how the world you inhabit works. A step above the basics of demand and supply economics that most already understand, Murphy explains the world of incentives that surround us in a light and enjoyable manner. Each chapter is a trip into the past to learn how an incentive worked or failed horribly. Through learning these outcomes we can become more knowledgeable and be better prepared for the future. I believe everyone should read this book, I know I certainly will recommend it to my friends and family.
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