In the first week of this class, if not the first day, we explored the idea of rational self-interest which can so easily be confused with just plain selfishness. This chapter of Naked Economics addresses this issue of incentives and the idea that if we're paid more, we will work harder.
Wheelan quotes Adam Smith in The Wealth of Nations, in which he writes "it is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest."
This kind of logic makes me reexamine my actions and our actions as a society. In the Bible, it claims that money is the root of all evil and while I'm not sure working for one's own interest is evil, you could make an argument that it is not exactly the most moral.Why do we do our homework and why do we study? So we get good grades. Why do we want good grades? So we can go to a good school and college. Why do we want to go to a good college? So we can get a good job. Why do we want a good job? So we can get paid well. Society as a whole does come down to money but the important issue is what we do with that money when we get it? Are we going to be wise, so we can better ourselves AND others? Or are we going to be selfish?
Thanks for this Taylor. First - it's the love of money that is the root of all evil, not money itself. I also would contest your view of school (as you expect a teacher might!) If I thought this were a means to an end, I'd do something else. I think of this as an end in itself. A thoughtful and wise life, which teachers hope to help students gain, is it's own reward. School is the fruit of work, not the other way around.
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