Consider This Chapter's Paradox: Sometimes Attempts to Help the Poor

question 35

Essay

Consider this chapter's paradox: Sometimes attempts to help the poor create perverse incentives that induce more poverty in the long run.What are perverse incentives? Offer an example that illustrates the meaning.Describe a governmental policy or program that uses a better model,one that avoids perverse incentives.

Understand the application of equitable and legal remedies in case of breach.

Analyze the legal ramifications of refusing tendered payment.

Identify contract performance standards and partial performance consequences.

Understand the legal mechanisms for ending contractual relationships.

---

Definitions:

Groupthink

A phenomenon where the desire for harmony or conformity in a group leads to an irrational or dysfunctional decision-making outcome.

Devil's Advocate

A role adopted in discussions where an individual presents a contrary opinion or perspective for the sake of argument.

Social Loafing

The tendency for individuals to decrease their effort in pursuing a goal when working in a collaborative environment versus working on their own.

Task-Oriented

An approach or behavior focused primarily on completing tasks or achieving specific objectives.