Sounds very reasonable. Does anybody have good examples of this approach? I have the impression that this is similar to the environment of Bell Labs during the "golden years".
Sounds very reasonable. Does anybody have good examples of this approach? I have the impression that this is similar to the environment of Bell Labs during the "golden years".
Bell Labs wasn't just a playground with infinite cash, they were very much supposed to figure out telecoms stuff for the benefit of Bell -- they just had a very wide berth for determining what that something was. I suspect the same is true for the aforementioned research departments.
(That said, I don't think either, nor Bell Labs, is a meaningful model for academia in general)
Isn't that called a loan?
I imagine that smart finance-leeches will tend to avoid loaning against 100% of the value of the pension, for much the same reason it's hard to get a mortgage that takes 100% of your income to repay. Beyond that -- where is the problem?
Beyond that, the problem would be getting the same results as paying someone directly, while reducing efficiency by inserting a middleman to take a piece for... why, exactly?
Most academic people I know love their work. They do overtime although they are paid much less than a comparable position outside academia. Just live with the 5 percent or so slackers. The rest of the pack will squeeze out much more when not tortured with bureaucracy.
See, we have two ends to optimize the system and we have to choose one. Either the system encourages the most talented to thrive or it's designed for mediocre individual performance where the worst performers are kicked out. In the former high performers thrive while in the latter the best we get is guaranteed non-zero output.
There is a beautiful dualism in rewarding and measuring. It's actually quite hard to invent good measures for creative work, so whatever measure you come up with probably does not measure what you want it to measure. The second problem is from intrinsic versus extrinsic motivators. Extrinsic motivators like pay rises or the risk of losing ones job work fine only if the task is simple and mappable to linear performance - like, say, logging. For any creative efforts extrinsic motivators kill performance.
Thus, it's very hard to measure creative work, and even if you could, you would not really want to use that data for anything because that would kill performance.