Sunday, 12 February 2017

The unrewarding veil



If you deconstruct the education system (it would be easy – its’ already in ruins, all you need is to sneeze at it and it will come down crashing) among the others, you fill find the two key elements that make up the keep up the structure: the pedagogy and the system of rewarding. Here’s to the latter.


For a child, the notion of academic target (which shouldn’t exist in the first place) is to excel in the upcoming exam. For the ambitious, star-spangled ones, it’s to stay at the top and for the visionary gems, it’s to get the best student award. Either ways, the focus is on the next exam, instead of the next learning opportunity. The actual input as effort and thus ultimately interest in the topic and the output as practical and applicable learning has been buried deep under the layers of mark-sheets and class ranks.

In a study analysing the impact of student incentives [1], various monetary rewards  were used. The ones that incentivised class grades or interim assessment didn’t result in any gain in students’ achievement. The ones that focussed on the inputs like reading books or doing homework, rather than the outputs, resulted in statistically significant gains. It would be worth noting, however, that further insights into the research revealed that the gains from reading books was also up for debate, as the students were now reading smaller books to get paid more. It was because reading the book isn’t the input either, actually being interested to read is – and that wasn’t incentivised.

The misplaced method of rewarding and its reaffirmation creates a veil of short sightedness – pushing from one goal to the next, without a clear vision on where it’s leading to, let alone why. The same veil continues throughout the career. In higher education, the incentive shifts slowly from getting good grades to getting a good job. Once in the job, it’s getting good appraisals from one quarter to the next.
The same veil is prevalent in businesses too. In one among the many similar surveys, this one on CFOs, it was revealed that firms frequently cut on long term profitable investments for short-term earnings targets [2]. This sacrifice of long term value creation for the quarterly gains has been debated to be one of the reasons for the financial crisis of 2008.

Governments too arguably have long been suffering from such short termism. With so much focus on the upcoming election, governments would rather take populist measures instead of investing thought, action and resources on initiatives that bears fruit much beyond the voting horizon, sometimes even when the opposition has come to power instead. Pleasing citizens instead of benefiting them, bitten by short termism is often considered one of the biggest weaknesses of a democracy.

The same veil also makes our targets for long term investing blurred in order to get instant gratification. Multiple studies have revealed that people would choose to have $100 now than $120 at the end of year. A 20% return thrown out of the window! This short sightedness resulting in low saving tendencies was also studied to be prevalent among primates in an extremely interesting study on monkey economy. [3]

Coming back home after a long digression, what is to be done to rip apart the veil that’s structurally thrust onto our faces to wear throughout our lives? And if we are evolutionarily meant for short termism (case in point: monkey economy), how to get over it? One way possibly would be to reward the actual, ultimate roots of the input. Reward the effort and process of learning, not the result [4]. Make sure the child has a smile when a chapter starts, so that it’s not a frown when an exam does.
Karm karo, par fal ki apeksha mat rakho




[1] http://edlabs.harvard.edu/analyzing-impact-student-incentives
[2] https://faculty.fuqua.duke.edu/~charvey/Research/Published_Papers/P89_The_economic_implications.pdf
[3] http://www.forbes.com/2006/02/11/monkey-economics-money_cz_df_money06_0214monkeys.html
[4] https://www.youtube.com/watch?v=_X0mgOOSpLU

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