Risk-Centric Labor Market, Incentives, and Public vs. Private Sector
Risk-Centric Labor Market
Most people are direct workers who perform work for the managers and founders--the greatest risk takers--in society.
I believe the propensity to take risks is one of the greatest determinants of someone’s career choice. Being able to manage risk well is not a skill too many people have. This is one of the reasons why debt is so prevalent. People aren’t managing risk appropriately or simply “kicking the can down the road.”
I suggest that we need public sector employees to assume greater risk by having clear targets and being paid on performance rather than simply a guaranteed salary.