Attempts to describe a governing approach the authors call "libertarian paternalism," somewhat abusing both terms. In the simplest case, consider "default options" for prescription drug and retirement plans. The book advocates gov't bureaucrats figure out which drugs you're likely to take, when you're going to retire, etc., and sign you up for corresponding...
more Attempts to describe a governing approach the authors call "libertarian paternalism," somewhat abusing both terms. In the simplest case, consider "default options" for prescription drug and retirement plans. The book advocates gov't bureaucrats figure out which drugs you're likely to take, when you're going to retire, etc., and sign you up for corresponding options; you're free to change the selection with a simple form. Nothing brilliant in this idea (nor in the rest of the book). It's not clear to me what reason there is to think we can, in general, appoint bureaucrats to make better decisions for us than we can make ourselves. (Note this is not the same as claiming there are not people who can make those decisions better than us.) And even if the authors can presently divide decisions into those well-suited for paternalistic defaults and those not, what guarantee is there that this division would remain correct through inevitable political evolution? It seems to me that interest groups would soon enough turn the system far from its noble goals.
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