Not Just for the Money: An Economic Theory of Personal Motivation

This text poses a challenge to traditional economic theory, arguing that people do not act in expectation of monetary gain alone, nor do they work solely to get paid. It aims to show that higher monetary compensation crowds-out motivation, and offering higher pay makes people less committed to their work, and may reduce their performance. The first part of the book examines the crowding-out effect and the motivational spill-over effect. A large number of applications to constitutional questions, various policy issues and the organization of firms is explored in the second part. In the last part is a discussion of the substantial consequences for policy making and economic theory. In Not Just For The Money Professor Frey Challenges Traditional Economic Theory And Argues That People Do Not Act In Expectation Of Monetary Gain Alone, Nor Do They Work Solely Because They Are Paid. Furthermore The Author Claims That Higher Monetary Compensation As Well As Regulations Crowd-out Motivation In Important Circumstances. Offering Higher Pay May Make People Less Committed To Their Work And May Reduce Their Performance. They Thus Behave In Exactly The Opposite Way The Fundamental Price-effect Of Economics Predicts. The First Part Of The Book Considers The Crowding-out Effect And The Motivational Spill-over Effect. The Second Part Explores A Large Number Of Applications To Constitutional Questions, Various Policy Issues And The Organization Of Firms. The Final Part Discusses The Substantial Consequences For Policy Making And Economic Theory. 1. Introduction: The Market And Beyond -- 2. Everyday Experiences -- 3. The Psychological Background -- 3. Integration Into Economics -- 5. Motivational Spill-over Effect -- 6. A Strict Or Lenient Constitution? -- 7. Environmental Policy -- 8. Siting Policy, Or: The Nimby-problem / Bruno Frey And Felix Oberholzer-gee -- 9. Social And Organizational Policy -- 10. Work Motivation And Compensation Policy -- 11. Consequences For Economic Policy -- 12. Consequences For Economic Theory. Bruno S. Frey. Includes Bibliographical References (p. 126-147) And Indexes. In Not Just for the Money Professor Frey challenges traditional economic theory and argues that people do not act in expectation of monetary gain alone, nor do they work solely because they are paid. Furthermore, the author claims that higher monetary compensation as well as regulations crowd-out motivation in important circumstances. Offering higher pay may make people less committed to their work and may reduce their performance. They thus behave in exactly the opposite way the fundamental price-effect of economics predicts. The first part of the book considers the Crowding-Out Effect and the Motivational Spill-Over Effect. The second part explores a large number of applications to constitutional questions, various policy issues and the organization of firms. The final part discusses the substantial consequences for policy making and economic theory. This path breaking book is bound to create controversy and debate. It will appeal not only to economists but to a wide range of social scientists who want to go beyond the traditional assumption of economic man.

in Not Just For The Money Professor Frey Challenges Traditional Economic Theory And Argues That People Do Not Act In Expectation Of Monetary Gain Alone, Nor Do They Work Solely Because They Are Paid. Furthermore The Author Claims That Higher Monetary Compensation As Well As Regulations Crowd-out Motivation In Important Circumstances. Offering Higher Pay May Make People Less Committed To Their Work And May Reduce Their Performance. They Thus Behave In Exactly The Opposite Way The Fundamental Price-effect Of Economics Predicts. The First Part Of The Book Considers The Crowding-out Effect And The Motivational Spill-over Effect. The Second Part Explores A Large Number Of Applications To Constitutional Questions, Various Policy Issues And The Organization Of Firms. The Final Part Discusses The Substantial Consequences For Policy Making And Economic Theory.

Ntozake Shange offers this eclectic tribute to black cuisine as a true food of life, one that reflects the tenacious spirit and powerful history of a people. With recipes that include everything from Cousin Eddie's Shark with Breadfruit to Collard Greens to Bring You Money, Shange instructs us in the nuances of a cuisine born on the slave ships of the Middle Passage, spiced by the jazz of Duke Ellington, and shared by all members of the African Diaspora. From the flyin' fish controversy (yes, that's right, flyin' fish) between Trinidad and Tobago, to a union of spirits in the once-divided nation of Nicaragua, we enter a world where adaptation and experimentation are a matter of course, where history and pain have forged nations, but food has founded culture.