Nudge-ocracy

“How can people be simultaneously so smart and so dumb?” -From Nudge by Richard Thaler and Cass Sunstein

This article, from The New Republic, by Franklin Foer and Noam Scheiber discusses what they call Obama’s “nudge-ocracy.”

My favorite quote from the piece:

“Private investors do part with their money when uncertainty subsides; competition does tend to improve quality; markets do have a knack for allocating resources, at least when incentives are correctly aligned and the relevant costs are priced in.”

It’s worth the read.

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