Gary Miller
Quotes From
Managerial Dilemmas (1992)
- Hierarchies, unlike markets, institutionalize long-term mutual commitments that make it easy to trade off social acceptance and esteem against wealth.#
- Incentive systems such as profit sharing and gain sharing can be easily criticized on economic grounds. Each individual’s share in the extra profits generated by his or her own marginal effort is so tiny as to have no effect whatsoever on that individual’s self-interested behavior. However, these criticisms miss the point. The notion of plans such as the Scanlon plan is not to harness individual self-interest in the interest of the firm; it is rather to serve as a symbolic commitment of managers to a shared ownership in the firm.#
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Inside and Outside Perspectives on Institutions: An Economic Theory of the Noble Lie
If there exist no incentive or selective mechanisms that make cooperation in large groups incentive-compatible under realistic circumstances, functional social institutions will require a divergence between subjective preferences and objective payoffs – a “noble lie”. This implies the existence of irreducible and irreconcilable “inside” and “outside” perspectives on social institutions; . . .
Inside and Outside Perspectives on Institutions
https://www.youtube.com/watch?v=4fbB1_k8dI4 The screenshot here is from a movie called They Live. The guy gets a magical set of glasses that when he puts them on he can see through all of his society’s institutions. And this is not a wonderful thing; in fact this is kind of a horrifying thing. And . . .
Bootstrapping Social Cooperation
Social cooperation is the major thing to be explained in both sociobiology and economics. From the perspective of the former, most species never achieve it at all. From the perspective of the latter, most societies never get very far along compared to the advanced Western societies of the modern world. One . . .