1.4 Economic incentives: The Xiaogang village story

season 1 Oct 12, 2020

People realise their dreams and economic prosperity by participating in system with rules and incentives that reward initiative and taking risk.

In this episode, we examine incentives that drive economic prosperity and reward initiative and risk-taking.

Specifically, we look at the principles that Xiaogang village adapted in 1978 and how it led to China's modern economy that reportedly lifted 500 million people out of poverty.

 

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Hosted by Almir Colan

 Youtube direct link: https://youtu.be/QVWChm4rS1Q

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