Article

Bonuses are a problem diet for financiers

Heads, we win; tails, they lose! Managers, traders and advisers who take more of gains than of losses have incentives to support risky courses of action that are not in the best interests of the principals they represent. John explains why this scheme can never really align the rewards of the individual with the objectives of the organisation.
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Article

Nobody wins when there are too few taxis

Most bad economic policies can be abandoned, but the harmful effects of restrictive licensing systems are usually irreversible. By illustrating the flaws of taxi regulation, John explains why governments and licensing authorities should think twice before being caught in a transitional gains trap.
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