Mark Carney: Intrinsically Valuable
on Friday, February 5, 2021Mark Carney Money Quote saying If people feel their activity is valuable they can be convinced otherwise by an offer of cash. Mark Carney said:
“When people are engaged in an activity that they see as intrinsically valuable, offering them money weakens their motivation” — Mark Carney
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In this quote, Mark Carney seems to be commenting on the concept of intrinsic versus extrinsic motivation. By stating that offering money can “weaken their motivation” when people see an activity as “intrinsically valuable”, Carney implies that financial incentives may undermine motivation driven by internal rewards like personal fulfillment, interest or satisfaction from the work itself.
The quote conveys Carney’s perspective that activities undertaken for their own sake due to inherent enjoyment or purpose, rather than primarily for monetary gain, are driven by intrinsic motivation which can be diminished by introducing extrinsic rewards like pay. Overall, he appears to be arguing that paying for tasks people are already motivated to do due to internal rewards may paradoxically decrease their motivation over time.