Richard Thaler

Continuing my binge on behavioral economics I had to eventually visit Nudge, Thaler’s seminal work on the subject. I enjoyed the view of Paternal Libertarianism and can see how it can be employed to write good policy, especially in government. As a thought experiment, it holds a theory whereby an automatic system will often default but a manual override should always be present. I feel as though every system should be like this.  I’ve worked in government where this systematically does not happen, in fact, a policy was in place to prohibit it.

Ty Fairclough

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