When Do Monetary Incentives Backfire?

In economics “incentives matter”, so much so that the bestselling book Freakonomics defines the discipline of economics as the study of incentives. Extrinsic incentives, like cash payments, are familiar forms of incentives and they are often proposed in order to motivate or alter the behavior of individuals. So, should students get financially rewarded for class … Continue Reading ››

The Persistence of Manufacturing in Deindustrialized America

Over the past three decades, the American manufacturing has been characterized by a marked decline in employment rates. We hear much about deindustrialization and the outsourcing of production leading to an almost wholesale relocation of American labor-intensive industries to lower-wage areas in the developing world. By the end of 2012, the sector had lost approximately … Continue Reading ››