#801 - George Mack - 13 Life-Changing Ideas You’ve Never Heard Of
Modern Wisdom
Understanding Incentives and History
History provides insights into the impact of incentives on behavior. In the context of Australian history, the change from paying per person getting on the boat to paying upon arrival increased the survival rate significantly. Understanding incentives in systems is crucial as they often have a more significant impact than hard work or busyness. The compounding effect of tweaking incentives can be enormous. It is essential to be skeptical when information aligns with someone's incentives, as people tend to act in line with what benefits them. Incentives play a significant role in politics, business decisions, and personal relationships, shaping people's actions and decisions.
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