Economy, which incentives?

Editorial

Economy, which incentives?

by Alberto Ferrucci
published in Città Nuova N. 11/2009

The whole world is indignant for the incredible bonuses poured upon 70 executives so that they would not abandon the AIG insurance agency, in which they had to put in tens of millions of taxpayer dollars to avoid failure.

Even if chasing them away would be a just recompense, it´s logical that who has valid executives tries to keep them and who doesn´t have them tries to attract them: but with which incentives? In recent years, stock options are fashionable as are business shares offered at reduced prices, a much greater incentive when, with many profits, one is able to increase their value on the stock market.

Profit immediately awards who speculates, but often compromises the future of the business, that instead is insured through research and investments to consolidate jobs and improve environment, to the advantage of who in the business has invested consistently.   How then can you attract good managers, avoiding incentive systems that end up favoring not the most useful people of the business, but the most greedy, and perhaps even causing the others to become so?

If the intuition of who decides which financial risks to take makes a difference, a productive business flourishes when everyone´s objectives and creativity merge, when you obtain the esteem and the support of both who cooperates with this person and of the inhabitants of the territory in which the business operates. Why not think that all of these people should draw from the profit of its higher efficiency?

And so, on the intuition of the Economy of Communion, why not facilitate with more relevant fiscal incentive exemptions, correlated to business profits, to use according to the decisions of executives and staff, in small part for their families and by large – a moral incentive – also for environmental investments that fortify the business, and for social works in the territory in which it is inserted.

Stable shareholders would see the businesses earning-power increase and would stimulate the growth of job opportunities, that which makes the business a true social good.  Those able to orient the helm of the business to bring about more profits would in this way be less rich, but would be more admired and loved, as we remember the figure of Adriano Olivetti.

The human being by nature searches for the love of another or at least a glance.  The clock, the machine, the mansion, the prestigious yacht, all serve to attract this glance, one that is however more often full of jealousy than of admiration.  Wouldn´t it be more satisfying, instead of being envied, to be esteemed?

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