I loved your idea that Congress should have incentive pay based on growth in John Fernald’s Total Factor Productivity series. I would also argue that it’s important for that incentive to be smooth and linear from 0% to 7%, and that the ideal amount is large—at least $100,000 for each 1% (annually).
My big question: do you think there’s a chance of getting this done?
I loved your idea that Congress should have incentive pay based on growth in John Fernald’s Total Factor Productivity series. I would also argue that it’s important for that incentive to be smooth and linear from 0% to 7%, and that the ideal amount is large—at least $100,000 for each 1% (annually).
My big question: do you think there’s a chance of getting this done?
I still like that idea too, but it’s pretty weird and unlikely to pass any time soon. A more likely reform that I also like is ranked choice voting.