The harder competition gets, the more people drop out. For a society, it would be great to maximize progress through competition but minimize crime through social welfare. But what is needed to accomplish that? First, there has to be strong enough incentives for people to dedicate their lives for pursue of innovations, and a back-up system when they are not…
Associate Professor (tenure track) at the University of Vaasa, and Adjunct Professor at the Turku School of Economics. Based in Finland.