What is the incentive problem for workers by Dr. Robert Murphy @Mises

Question 6 / 15: What is the incentive problem for workers under socialism?

Answer:

If people are not paid in accordance with their productive

output—if they're paid according to "need"—then they might

not work as hard under socialism as they would under capitalism.

There would be fewer goods and services produced overall,

meaning that the average standard of living would have to fall.

Sample Partial Credit Answer

People would have no reason to work as hard.

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https://www.jobilize.com/socialism-the-command-economy-by-dr-robert-murphy-mises

Socialism: The Command Economy

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Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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