Tuesday, February 8, 2011

Mediocracy

So that explains it:
On the one hand, recruiting the best possible individuals may enhance the party’s electoral prospects in a competitive electoral environment (competition effect). On the other hand, recruiting a relatively “mediocre” but homogeneous group of individuals may maximize their collective effort on behalf of the party since the presence of “superstars” may discourage other party members and induce them to shirk (discouragement effect).

ht: Barking Up The Wrong Tree

1 comment:

  1. In the post-Dickensian, modern era, there is no justification for a statutory minimum wage, especially in the current climate. It is probably responsible for more job destruction than any other factor.

    It abolishment, or at least suspension, would free employers and employees to find wage levels at which each could survive, without an ignorant State inserting itself in the middle. And remember, the minimum wage sets pay bands not just for those who receive it but for vast swathes of the economy, where remuneration is overtly or covertly linked to the minimum wage.

    ReplyDelete

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