As the writer says, it seems unlikely that Washington and Wall Street would move in this direction any time soon, but the perspective is a very interesting one, especially when it's one American love applied to another. I think the phrases around real game or expectations game are a great way to frame it.
But there is something about the world within which the football model exists, that forces its planners to continue to innovate. So, applying their planned economy to the total economy sounds like a socialist strategy, that loses important incentives to innovation and entrepreneurship.
Pro football: A model for capitalism? - Feb. 28, 2013:
"Martin starts by distinguishing between a real game (producing winners and losers) and the "expectations game" (run by bookies). The NFL bans for life any player or official who engages in the expectations game of betting on a team's performance. But in capitalism, the real game of building a winning business -- focusing on products and customers -- has gotten swamped by a market expectations game dictated by Wall Street.
....
Regulators should delink the two, starting with putting an end to stock-based executive compensation -- at least before retirement. As a CEO, "you're either in the real game or the expectations game; you can't be in both," Martin argues.
....
"If we continue to say that trading value is more important than building value, we're going to be messed up," he says."
But there is something about the world within which the football model exists, that forces its planners to continue to innovate. So, applying their planned economy to the total economy sounds like a socialist strategy, that loses important incentives to innovation and entrepreneurship.
Pro football: A model for capitalism? - Feb. 28, 2013:
"Martin starts by distinguishing between a real game (producing winners and losers) and the "expectations game" (run by bookies). The NFL bans for life any player or official who engages in the expectations game of betting on a team's performance. But in capitalism, the real game of building a winning business -- focusing on products and customers -- has gotten swamped by a market expectations game dictated by Wall Street.
....
Regulators should delink the two, starting with putting an end to stock-based executive compensation -- at least before retirement. As a CEO, "you're either in the real game or the expectations game; you can't be in both," Martin argues.
....
"If we continue to say that trading value is more important than building value, we're going to be messed up," he says."
Comments