Wow wow wow wow… great video about extrinsic vs intrinsic rewards and how they relate to business practices.  Basically when dealing with complex problems, intrinsic rewards are far more effective.  A powerful case for us to try to take money out of the equation as a motivator if we want better results and to solve the complex problems each of us face in our lives and as an entire world.

Pure risk reward motivation seems to only be effective for the most rudimentary or mechanical of tasks.  For anything requiring higher thinking (in fact the terminology used in one of the studies discussed is “even rudimentary cognitive skill”) it is in fact detrimental.  Want to be like a machine or a robot – base your thinking and life around a risk reward philosophy.  Want to experience a truly rich, truly ‘human’ life – you’re going to want to look towards intrinsic value as your primary motivator.

The guy in this talk even gives some really excellent examples of how people are using this concept in the world of business and getting great results.

I think GFRF is another way that implicitly removes the extrinsic rewards from the equation and focuses instead on the intrinsic value of work and achievement while still providing a way for us to exchange with each other – and if it works properly each have what we need and collectively be far better off.

If you want a happier more successful life, you’ve got to check this talk out – its FANTASTIC!