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Now, distrust of corporations threatens our still-tentative economic recovery; it turns out greed is bad, after all. Washington seems determined to validate the judgment of the quite apolitical Web site of Corporate Governance (corpgov.net), which matter-of-factly remarks, '' Given the power of corporate lobbyists, government control often equates to de facto corporate control anyway.'' Perhaps corporations will reform themselves, but so far they show no signs of changing their ways.
Incentives are used to persuade people in to doing something.
For example, if you have ever purchased a kids meal just to get the toy, you purchased it with the incentive of receiving. Negative incentives punish someone financially for making certain choices and behaving a certain way.
Incentives are sometimes rewarding and sometimes unrewarding.
Greed is taught to be a bad quality to children: but is greed really bad?
'' The point is, ladies and gentlemen, greed is good. As people, corporate leaders are no worse (and no better) than they've always been. Twenty-five years ago, American corporations bore little resemblance to today's hard-nosed institutions. Executives didn't focus single-mindedly on maximizing stock prices; they thought of themselves as serving multiple constituencies, including their employees.
Let me be clear: I'm not talking about morality, I'm talking about management theory. salaries were tiny compared with today's lavish packages.
But a few years of illusory achievement can leave an executive immensely wealthy.
Ken Lay, Gary Winnick, Chuck Watson, Dennis Kozlowski -- all will be consoled in their early retirement by nine-figure nest eggs.
In order to help make clear the difference of greed and incentives, this paper will discuss a quote from Adam Smith’s book, Wealth of Nations, along with discussing innovation, the difference of acting in one’s self interest and being greedy, and fairness or greed in free market systems.
Greed and incentives are two terms that each play a role in the other.