I was always convinced that incentives play the most
significant role in the way that people think and act. Mainly, due to the fact that I study Economics I am prone to believe that proper incentives can guide optimal action. In this manner, I was amazed to read that Richard Branson announced a $25 million prize for the first scientist to come up with a way to extract greenhouse gases from the atmosphere. Are 25 $ million what someone could call a proper incentive? You bet it is!!!
But you know, this reminds me some ads that say "We will pay you 3.000 euros if you prove that you can find better fuels than ours"!! The reason for publishing such an ad is threefold:
1. None can ever prove such a thing.
2. None will ever bother proving it.
3. You are sincere and thus eager to pay someone who can prove it.
As a nervous economist and always suspicious of others' intentions and "utility maximizations", I wonder why someone would like to pay such a great deal of money for a thing like global warming? A merely private donation, for a merely social issue!! Who knows? It is just that I fear that this environmental madness is not as noble and pure as it seems. In any case, what I am suspicious of are only speculations. I pray time will prove me wrong. For the time being one can cast a look at CNN.com and the relevant article.
significant role in the way that people think and act. Mainly, due to the fact that I study Economics I am prone to believe that proper incentives can guide optimal action. In this manner, I was amazed to read that Richard Branson announced a $25 million prize for the first scientist to come up with a way to extract greenhouse gases from the atmosphere. Are 25 $ million what someone could call a proper incentive? You bet it is!!!But you know, this reminds me some ads that say "We will pay you 3.000 euros if you prove that you can find better fuels than ours"!! The reason for publishing such an ad is threefold:
1. None can ever prove such a thing.
2. None will ever bother proving it.
3. You are sincere and thus eager to pay someone who can prove it.
As a nervous economist and always suspicious of others' intentions and "utility maximizations", I wonder why someone would like to pay such a great deal of money for a thing like global warming? A merely private donation, for a merely social issue!! Who knows? It is just that I fear that this environmental madness is not as noble and pure as it seems. In any case, what I am suspicious of are only speculations. I pray time will prove me wrong. For the time being one can cast a look at CNN.com and the relevant article.
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