Wednesday, July 20, 2011

Libertarian Paternalism

Libertarian paternalism seems a contradiction of terms.  I have just started to read Nudge by Richard Thaler and Cass Sunstein.  I am still in the introduction but I have come across two terms that caught my attention as they so closely coincide with my blogs on applied social psychology.  Then I did a brief search on the authors and found a few significant similarities.
The first term that caught my attention was choice architect.  A choice architect is one that focuses attention of people in a particular direction.  In my blogs I have often mentioned influence and change agents which do the same thing.  A choice architect is one that chooses a particular option and influences others to it by nudging.
The second term of note is libertarian paternalism which the authors say is a new movement.  It involves being free to choose.  Yet, they describe paternalism as the legitimation for choice architects to try to influence people's behavior. Choice architects are both private and public people that "attempt to move people in directions that will make their lives better.  A nudge is any aspect of the choice architecture that alters people's behavior in a predictable way."  This is exactly what I have been blogging about.  If you are new to this blog, it would be informative to scroll down and read past posts.
Now for a brief look at the authors.  Both of whom are to be considered choice architects, as well as, influence and change agents.
Richard Thaler is a professor of behavioral finance at the University of Chicago Graduate School of Business.  He teaches behavioral science and economics. 
Cass Sunstein is a professor of law and behavioral economics at the University of Chicago Law School. He is on leave at this time as he is currently an administrator for the White House Office of Information and Regulatory Affairs in the Obama administration.  Take a second to think about this and the potential for choice architects to influence and change our behavior in a direction of predictability from the White House.  The potential seems almost limitless.  Also, remember the role that professors play in directing their students understanding and knowledge base.  Now think about that influence in law and economics.  Now you have it.

No comments:

Post a Comment