Thirty years ago, when we were still using typewriters and fewer than 25 per cent of households invested in the stock market, economists conjectured that employees would work harder and make better decisions under a “pay-for-performance” system. This theory became popular in boardrooms – especially since it was an influential argument for increasing the pay of the chief executive and top officers. Bonuses tied to performance became standard practice in US companies and on Wall Street in particular.
30年前,當我們仍在使用打字機、投資股市的家庭不足25%的時候,經濟學家揣測,通過“績效工資”(pay-for-performance)制度,員工將更加努力,并做出更好的決策。這一理論迅速在各公司董事會流行起來——尤其是因為它為首席執行官及和其他高管加薪提供了重要依據。獎金與績效掛鉤,成為美國企業的標準做法,在華爾街更是如此。