On Incentives

"Never penalize those who work for us for mistakes or reward them for being right about markets. It will go to their heads, is counterproductive and, in any event, material compensation will not correlate with their ability to predict the future next time."

Site Search


Portions of this website, including the documents listed below, are password protected. Please contact us to obtain a password to access this information.

To activate links to these documents, please enter the password and click the Submit Password button.

  • Letters in Response to Speeches
  • Letters on Leaving the World Bank