Safety Incentive Quotes

Private prison builders and prison service companies have spent millions of dollars to persuade state and local governments to create new crimes, impose harsher sentences, and keep more people locked up so that they can earn more profits. Private profit has corrupted incentives to improve public safety, reduce the costs of mass incarceration, and most significantly, promote rehabilitation of the incarcerated.

Finally, we spend lots of money. Spending on jails and prisons by state and federal governments has risen from $6.9 billion in 1980 to nearly $80 billion today. Private prison builders and prison service companies have spent millions of dollars to persuade state and local governments to create new crimes, impose harsher sentences, and keep more people locked up so that they can earn more profits. Private profit has corrupted incentives to improve public safety, reduce the costs of mass incarceration, and most significantly, promote rehabilitation of the incarcerated.

I have the better right to indulgence herein, because my devotion to letters strengthens my oratorical powers, and these, such as they are, have never failed my friends in their hour of peril. Yet insignificant though these powers may seem to be, I fully realize from what source I draw all that is highest in them. Had I not persuaded myself from my youth up, thanks to the moral lessons derived from a wide reading, that nothing is to be greatly sought after in this life save glory and honour, and that in their quest all bodily pains and all dangers of death or exile should be lightly accounted, I should never have borne for the safety of you all the burnt of many a bitter encounter, or bared my breast to the daily onsets of abandoned persons. All literature, all philosophy, all history, abounds with incentives to noble action, incentives which would be buried in black darkness were the light of the written word not flashed upon them.

Private profit has corrupted incentives to improve public safety, reduce the costs of mass incarceration, and most significantly, promote rehabilitation of the incarcerated.

While families had incentives to curtail women’s work outside the home, employers had countervailing incentives to try to tap this large potential source of workers. Early New England mill owners, for example, tried to reassure parents of the safety and propriety of letting their daughters work in their businesses by having all-female workforces, often overseen by older women who in effect were chaperons, especially when the young women lived away from home.

The transition from foreign enemies to domestic enemies is a natural sequence when safety is emphasized over liberty. It involves the FISA court, PATRIOT Act authority, out of control NSA surveillance, and enthusiastic presidential use of the Espionage Act of 1917 to suppress and intimidate truth-tellers and whistle-blowers. We have an FBI that participates in and encourages the process by breaking laws in its sting operations and entrapments. Plus, there are illegal seizures of property at all levels of government. Property confiscated is not turned over to general government revenue. Instead, it automatically is put in the treasury of the policing organization that did the confiscating. This process is dangerous; it systematically undermines our liberty while providing funding and perverse incentives for organizations that do the policing. This brings to mind the CIA using drug money to finance secret activities during Iran-Contra.

Managerial abilities, bureaucratic skills, technical expertise, and political talent are all necessary, but they can be applied only to goals that have already been defined by military policies, broad and narrow. And those policies can be only as good as strategy, operational art of war, tactical thought, and plain military craft that have gone into their making. At present, the defects of structure submerge or distort strategy and operational art, they out rightly suppress tactical ingenuity, and they displace the traditional insights and rules of military craft in favor of bureaucratic preferences, administrative convenience, and abstract notions of efficiency derived from the world of business management. First there is the defective structure for making of military decisions under the futile supervision of the civilian Defense Department; then come the deeply flawed defense policies and military choices, replete with unnecessary costs and hidden risks; finally there come the undoubted managerial abilities, bureaucratic skills, technical expertise, and political talents, all applied to achieve those flawed policies and to implement those flawed choices. By this same sequence was the fatally incomplete Maginot Line built, as were all the Maginot Lines of history, each made no better by good government, technical talent, careful accounting, or sheer hard work. Hence the futility of all the managerial innovations tried in the Pentagon over the years. In the purchasing of weapons, for example, “total package” procurement, cost plus incentive contracting, “firm fixed price” purchasing have all been introduced with much fanfare, only to be abandoned, retried, and repudiated once again. And each time a new Secretary of Defense arrives, with him come the latest batch of managerial innovations, many of them aimed at reducing fraud, waste, and mismanagement-the classic trio endlessly denounced in Congress, even though they account for mere percentage points in the total budget, and have no relevance at all to the failures of combat. The persistence of the Administrator’s Delusion has long kept the Pentagon on a treadmill of futile procedural “reforms” that have no impact at all on the military substance of our defense. It is through strategy, operational art, tactical ingenuity, and military craft that the large savings can be made, and the nation’s military strength greatly increased, but achieving long-overdue structural innovations, from the central headquarters to the combat forces, from the overhead of bases and installations to the current purchase of new weapons. Then, and only then, will it be useful to pursue fraud, waste, and mismanagement, if only to save a few dollars more after the billions have already been saved. At present, by contrast, the Defense Department administers ineffectively, while the public, Congress, and the media apply their energies to such petty matters as overpriced spare parts for a given device in a given weapon of a given ship, overlooking at the same time the multibillion dollar question of money spent for the Navy as a whole instead of the Army – whose weakness diminishes our diplomatic weight in peacetime, and which could one day cause us to resort to nuclear weapons in the face of imminent debacle. If we had a central military authority and a Defense Department capable of strategy, we should cheerfully tolerate much fraud, waste, and mismanagement; but so long as there are competing military bureaucracies organically incapable of strategic combat, neither safety nor economy will be ensured, even if we could totally eliminate every last cent of fraud, waste, and mismanagement.

When we cooperate or look out for others, serotonin and oxytocin reward us with the feelings of security, fulfillment, belonging, trust and camaraderie. When firing at the right times and for the right reasons, they can help turn any one of us into an inspiring leader, a loyal follower, a close friend, a trusted partner, a believer . . . a Johnny Bravo. And when that happens, when we find ourselves inside a Circle of Safety, stress declines, fulfillment rises, our want to serve others increases and our willingness to trust others to watch our backs skyrockets. When these social incentives are inhibited, however, we become more selfish and more aggressive. Leadership falters. Cooperation declines. Stress increases as do paranoia and mistrust.

Driver Behavior & Safety Proper driving behavior is vital for the safety of drivers, passengers, pedestrians and is a means to achieve fewer road accidents, injuries and damage to vehicles. It plays a role in the cost of managing a fleet as it impacts fuel consumption, insurance rates, car maintenance and fines. It is also important for protecting a firm’s brand and reputation as most company- owned vehicles carry the company’s logo. Ituran’s solution for driver behavior and safety improves organizational driving culture and standards by encouraging safer and more responsible driving. The system which tracks and monitors driver behavior using an innovative multidimensional accelerometer sensor, produces (for each driver) an individual score based on their performance – sudden braking and acceleration, sharp turns, high-speed driving over speed bumps, erratic overtaking, speeding and more. The score allows fleet managers to compare driver performance, set safety benchmarks and hold each driver accountable for their action. Real-time monitoring identifies abnormal behavior mode—aggressive or dangerous—and alerts the driver using buzzer or human voice indication, and detects accidents in real time. When incidents or accidents occurs, a notification sent to a predefined recipient alerts management, and data collected both before and after accidents is automatically saved for future analysis. • Monitoring is provided through a dedicated application which is available to both fleet manager and driver (with different permission levels), allowing both to learn and improve • Improves organizational driving culture and standards and increases safety of drivers and passengers • Web-based reporting gives a birds-eye view of real-time driver data, especially in case of an accident • Detailed reports per individual driver include map references to where incidents have occurred • Comparative evaluation ranks driving according to several factors; the system automatically generates scores and a periodic assessment certificate for each driver and/or department Highlights 1. Measures and scores driver performance and allows to give personal motivational incentives 2. Improves driving culture by encouraging safer and more responsible driving throughout the organization 3. Minimizes the occurrence of accidents and protects the fleet from unnecessary wear & tear 4. Reduces expenses related to unsafe and unlawful driving: insurance, traffic tickets and fines See how it works:

The kibbutz experience suggests that income equality does not come for free. What you gain in a safety net, you lose in individual incentives; but if you raise incentives, inequality follows.

Fowler, like other new Uber hires, had been advised of the company's core values.47 Several of those values were likely to have contributed to a psychologically unsafe environment. For example, “super-pumpedness,” especially central to the company, involved a can-do attitude and doing whatever it took to move the company forward. This often meant working long hours, not in itself a hallmark of a psychologically unsafe environment; Fowler seems to have relished the intellectual challenges and makes a point to say that she is “proud” of the engineering work she and her team did. But super-pumpedness, with its allusions to the sports arena and male hormones, seems to have been a harbinger of the bad times to come. Another core value was to “make bold bets,” which was interpreted as asking for forgiveness rather than permission. In other words, it was better to cross a line, be found out wrong, and ask for forgiveness than it was to ask permission to transgress in the first place. Another value, “meritocracy and toe-stepping,” meant that employees were incented to work autonomously, rather than in teams, and cause pain to others to get things done and move forward, even if it meant damaging some relationships along the way.48

If leaders, in any profession, place an excess of stress on people to make the numbers, and offer lopsided incentive structures, we risk creating an environment in which near-term performance and resources are prioritized while long-term performance, trust, psychological safety and the will of the people decline.

Look at stocks as part ownership of a business. 2. Look at Mr. Market—volatile stock price fluctuations—as your friend rather than your enemy. View risk as the possibility of permanent loss of purchasing power, and uncertainty as the unpredictability regarding the degree of variability in the possible range of outcomes. 3. Remember the three most important words in investing: “margin of safety.” 4. Evaluate any news item or event only in terms of its impact on (a) future interest rates and (b) the intrinsic value of the business, which is the discounted value of the cash that can be taken out during its remaining life, adjusted for the uncertainty around receiving those cash flows. 5. Think in terms of opportunity costs when evaluating new ideas and keep a very high hurdle rate for incoming investments. Be unreasonable. When you look at a business and get a strong desire from within saying, “I wish I owned this business,” that is the kind of business in which you should be investing. A great investment idea doesn’t need hours to analyze. More often than not, it is love at first sight. 6. Think probabilistically rather than deterministically, because the future is never certain and it is really a set of branching probability streams. At the same time, avoid the risk of ruin, when making decisions, by focusing on consequences rather than just on raw probabilities in isolation. Some risks are just not worth taking, whatever the potential upside may be. 7. Never underestimate the power of incentives in any given situation. 8. When making decisions, involve both the left side of your brain (logic, analysis, and math) and the right side (intuition, creativity, and emotions). 9. Engage in visual thinking, which helps us to better understand complex information, organize our thoughts, and improve our ability to think and communicate. 10. Invert, always invert. You can avoid a lot of pain by visualizing your life after you have lost a lot of money trading or speculating using derivatives or leverage. If the visuals unnerve you, don’t do anything that could get you remotely close to reaching such a situation. 11. Vicariously learn from others throughout life. Embrace everlasting humility to succeed in this endeavor. 12. Embrace the power of long-term compounding. All the great things in life come from compound interest.

To apply first principles thinking to the field of value investing, consider several fundamental truths. Understand and practice the following if you want to become a good investor: 1. Look at stocks as part ownership of a business. 2. Look at Mr. Market—volatile stock price fluctuations—as your friend rather than your enemy. View risk as the possibility of permanent loss of purchasing power, and uncertainty as the unpredictability regarding the degree of variability in the possible range of outcomes. 3. Remember the three most important words in investing: “margin of safety.” 4. Evaluate any news item or event only in terms of its impact on (a) future interest rates and (b) the intrinsic value of the business, which is the discounted value of the cash that can be taken out during its remaining life, adjusted for the uncertainty around receiving those cash flows. 5. Think in terms of opportunity costs when evaluating new ideas and keep a very high hurdle rate for incoming investments. Be unreasonable. When you look at a business and get a strong desire from within saying, “I wish I owned this business,” that is the kind of business in which you should be investing. A great investment idea doesn’t need hours to analyze. More often than not, it is love at first sight. 6. Think probabilistically rather than deterministically, because the future is never certain and it is really a set of branching probability streams. At the same time, avoid the risk of ruin, when making decisions, by focusing on consequences rather than just on raw probabilities in isolation. Some risks are just not worth taking, whatever the potential upside may be. 7. Never underestimate the power of incentives in any given situation. 8. When making decisions, involve both the left side of your brain (logic, analysis, and math) and the right side (intuition, creativity, and emotions). 9. Engage in visual thinking, which helps us to better understand complex information, organize our thoughts, and improve our ability to think and communicate. 10. Invert, always invert. You can avoid a lot of pain by visualizing your life after you have lost a lot of money trading or speculating using derivatives or leverage. If the visuals unnerve you, don’t do anything that could get you remotely close to reaching such a situation. 11. Vicariously learn from others throughout life. Embrace everlasting humility to succeed in this endeavor. 12. Embrace the power of long-term compounding. All the great things in life come from compound interest.

when we find ourselves inside a Circle of Safety, stress declines, fulfillment rises, our want to serve others increases and our willingness to trust others to watch our backs skyrockets. When these social incentives are inhibited, however, we become more selfish and more aggressive. Leadership falters. Cooperation declines. Stress increases as do paranoia and mistrust.

In analysis we have to deal with a counterplay of retarding and forward-moving forces, with resistance and incentive. Resistance is a collective term for all the forces within the patient that operate to maintain the status quo. His incentive, on the other hand, is produced by the constructive energy that urges him on toward inner freedom. This is the motive power with which we work and without which we could do nothing. It is the force that helps the patient overcome resistance. It makes his associations productive, thereby giving the analyst a chance for better understanding. It gives him the inner strength to endure the inevitable pain of maturing. It makes him willing to take the risk of abandoning attitudes that have given him a feeling of safety and to make the leap into the unknown of new attitudes toward himself and others.

And when that happens, when we find ourselves inside a Circle of Safety, stress declines, fulfillment rises, our want to serve others increases and our willingness to trust others to watch our backs skyrockets. When these social incentives are inhibited, however, we become more selfish and more aggressive. Leadership falters. Cooperation declines. Stress increases as do paranoia and mistrust.

The nuclear power industry, for example, lacks a strong union, has random public victims with delayed effects, has no safety board that is independent of licensing and regulatory functions, and does not see an immediate effect on its profits if safety flags (though a far more severe incentive exists to avoid a catastrophic accident which could shut down the industry).

As BusinessWeek put it during the heart of a bear market long ago, “For investors…low stock prices remain a disincentive to buy.” But if the value of the business is solid, a declining stock price should be an incentive to buy, because it enables you to get more shares for less. And if the stock price drops below the business value, you have that rare opportunity that Graham called a “margin of safety”—the assurance that you can increase your stake for less than what it is actually worth.