When you rely on incentives, you undermine virtues. Then when you discover that you actually need people who want to do the right thing, those people don't exist because you've crushed anyone's desire to do the right thing with all these incentives.
Everybody makes money for a living, but most of us actually do something that has a point, in addition to just making money. We examine and treat patients, we teach students, we draw up contracts and wills, we write for newspapers, magazines, and web sites, we clean floors, or we serve meals.
In an ideal world, nobody's work would be just about the money. People could pursue excellence in what they do, take pride in achievement, and derive meaning from knowing that their work improved the lives of others.
Practical wisdom is what's called for in situations that have a moral dimension to them.
I start with an idea that is no more than a paragraph long, and expand it slowly into an outline. But I'm always surprised by the directions things take when I actually start writing.