Individuals can often be better motivated by intrinsic rewards-by the satisfaction of doing a job well-than by extrinsic rewards {money}.
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Joseph E. Stiglitz, in his book "The Price of Inequality," emphasizes the power of intrinsic rewards as a motivational tool for individuals. He argues that the fulfillment derived from performing a task effectively can often surpass the motivation received from external rewards, such as monetary compensation. This presents a shift in focus, highlighting the importance of personal satisfaction over financial incentives.
This perspective suggests that fostering environments where individuals can take...
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