Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm LifeFairchild, Geo. T. (George Thompson)
Science
Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm Life
Fairchild, Geo. T. (George Thompson)
Agriculture -- Economic aspects; Economics
_Premiums._—The most simple means of encouraging enterprise is found in
premiums of various kinds offered by individuals, local societies or
municipal authority. These operate by adding to the natural advantage of
energetic labor some special reward in recognition of its accomplishment.
Illustrations are familiar in connection with so-called fairs of all kinds
where prizes are distributed for the largest product of a kind, the most
profitable crop, the best article for any purpose, the greatest variety of
crops or stock, or for any conceivable device which seems to add to the
producing power of the community. Governments often offer premiums for
plans of public buildings, and sometimes for offensive weapons. All of
these operate upon the one principle of arousing special energy by
superior advantage given to the successful competitor. Its advantages are
evident. Its disadvantages sometimes outweigh advantages. It encourages
somewhat the spirit of gambling, resulting in devices for winning the
prize through false representation. It exaggerates the importance of showy
qualities for the sake of notoriety, and it fosters those jealousies which
too constantly interfere with the welfare of communities.
Both advantages and disadvantages are well illustrated in agricultural
fairs. These have proved a most admirable stimulant to better agriculture,
where clear-headed, intelligent judges have judiciously distributed prizes
of such a nature as to have their chief use in establishing the quality of
the product shown without catering too distinctly for the enthusiasm of
the crowd or for individual profit. The chief end of all such incentives
is rightly found in the educational influence from comparison of products
and the establishment of standards which the whole mass of the people may
be led to accept.
Public-domain text, read in full here on John Shaqi.
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