Summer School 6: China, Taiwan and how nations grow rich
Planet Money
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Collective Ownership Breeds Apathy
In an environment where collective ownership prevails, individuals lack personal stakes in their work or possessions, leading to disincentivized effort and motivation. Centralized planning dictates agricultural choices, often disregarding local conditions and farmers' needs, further disconnecting individuals from their labor. The absence of personal ownership fosters a culture of apathy, where participation becomes a mere obligation rather than a source of pride or achievement. Regardless of individual effort, rewards and recognition are uniformly distributed, contributing to widespread disengagement and reluctance to exert oneself.
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