Ep. 526: I Will Survive with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Power of Incentives
Human nature with its version of what I call incentive cost bias causes this terrible abuse. People who create things like cash registers which make misbehavior hard are some of the effective saints of our civilization. The sky was very skilled technically and make a high living by doing a few maimings and murders every year along with some frauds. He said hell no Charlie he thought that the gallbladder was the source of all medical evil. If you really love your patients you couldn't get that organ out rapidly enough. Now that's an extreme case but in lesser strength it's present in every profession and in every human being. It causes perfectly terrible behavior.
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