Here in this article is the future of political conflict. “Libertarian paternalism” against a theory of human existence based on the supremacy of reason and rational choice. Choose your sides now.
A bit of background:
In the economics world, behavioral economics is aimed at looking at how people actually make choices, instead of assuming that everybody has excellent information about the given state of markets and the future consequences of their options, and will choose what’s best for them, given their preferences.
In most experiments (and in anybody’s experience of real life) it turns out that people don’t always act to maximize their interests. We make stupid choices. We discount future gains too heavily. We smoke, drink, do drugs, party, don’t exercise, watch porn, drop out of school, quit our jobs and move to Europe to be writers in dying mediums. Null point pour les neoclassicism. Continue reading →