Thaler advocates for libertarian paternalism from "summary" of Misbehaving by Richard H Thaler
Thaler's idea of libertarian paternalism is about guiding people towards making better decisions without restricting their freedom of choice. It recognizes that people often make irrational choices due to cognitive biases and heuristics. By understanding these tendencies, policymakers can design interventions that nudge individuals towards making better choices without imposing mandates. The term "libertarian" reflects the emphasis on individual freedom and autonomy. People should have the right to make their own decisions, even if those decisions are not always in their best interest. However, Thaler argues that policymakers can still influence decisions by changing the context in which choices are made. This approach respects individual autonomy while acknowledging the limitations of human rationality. On the other hand, the term "paternalism" acknowledges...
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