Richard Thaler of the University of Chicago Graduate School of Business defends the idea of libertarian paternalism--how government might use the insights of behavioral economics to help citizens make better choices. Host Russ Roberts accepts the premise that individuals make imperfect choices but challenges Thaler on the likelihood that government, in practice, will improve matters. Along the way they discuss the design of Sweden's social security system, organ donations and whether professors at Cornell University are more or less like you and me.
Mailbag (Time mark 57:47)
The Economics of Moneyball
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: Is it the government's duty to break up monopolies? Is antitrust sometimes worse than the monopoly itself? [See also
Antitrust
Concise Encyclopedia of Economics
The Economics of Moneyball
Patriatisme économique
(economic nationalism) has been greatly discussed recently in France. Do domestic companies owned by foreigners or their governments behave differently from domestically-owned ones with regard to employment, outsourcing, etc.?
Addendum: See the Mailbags in these later podcasts:
READER COMMENTS
Jeffrey Rae
Nov 14 2006 at 7:32pm
I have just finished listening to my very first podcast from your site. It was the interview with Richard Thaler on Libertarian Paternalism. I greatly share your general scepticism about the subject and ist implications for public policy. (I am a freelace economic consultant and have written reports for financial institutions on the lessons of behavioural finance, including Richard’s work on the subject.) Neverthless I greatly appreciated your open-minded approach to the interview and your willingness to find common ground with Richard. Too often libertarians come across as closed minded and all knowing. Well done. You have gainmed a dedicated listener on their first exposure.
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