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Nugde Economics From Behavioural Economists

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http://www.guardian.co.uk/politics/2008/ju....conservatives1

What is Nudge?

It's where economics meets psychology. Mainstream economics treats humans as if they are smart and always clear about their own interest. Trouble is, we aren't like that: we eat too much and drink too much (sometimes at the same time) and we don't hit the gym or save enough. Nudge suggests ways in which we can do the right thing.

How does it work?

Rather than leave people to their own devices, or give them dos and don'ts, Thaler and other behavioural economists want to highlight the best option, while still leaving all the bad ones open. They argue it's better for everyone to be automatically enrolled in a pension scheme (or more controversially for organ donation), but give them an opt-out. Or they may want a shop to put real oranges by the checkout rather than chocolate versions.

Where has it been tried?

American firms are signing up to Thaler and Sunstein's idea of Save More Tomorrow, where workers are automatically enrolled into a savings scheme; contribution go up in line with pay. Gordon Brown is introducing something similar here.

Aren't there drawbacks?

Yes, if you take exception to being 'nudged' into what to do by bureaucrats, however well-intentioned. You may not trust politicians or civil servants to do the right thing. Alternatively, you may think 'nudging' is not enough, when tackling climate change, say, or knife crime.

I think you will all like this idea, it's great...... :P

At least we can trust economists as they are always right........

So I'm automatically going to be enrolled in a savings scheme can I pick who I save with or is that decision too complicated for me to decide upon.

When can I access the money. In today's environment I can't afford to save with living costs going up. So your going to force me to save rather than eat?

Conspiracy time, is this a way of boosting the banks capital base?

I bet Injin loves this idea :P

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http://www.guardian.co.uk/politics/2008/ju....conservatives1

I think you will all like this idea, it's great...... :P

At least we can trust economists as they are always right........

So I'm automatically going to be enrolled in a savings scheme can I pick who I save with or is that decision too complicated for me to decide upon.

When can I access the money. In today's environment I can't afford to save with living costs going up. So your going to force me to save rather than eat?

Conspiracy time, is this a way of boosting the banks capital base?

I bet Injin loves this idea :P

This is how all state programs work. They assume you agree with them until you write in and tell them otherwise.

They are also pretty creative in finding ways for you to have "volunteered." This process originally started in legal circles when time is a factor - a lawyer would write to the other party, giving them 28 days or so to respond or agreement to a change was assumed.

From this small loophole our modern statists have driven elephants through for the "greater good."

The weakness of it is that it works both ways.

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Guest DissipatedYouthIsValuable

Another Yank trying to shill his way in the world with a crap book and a crap idea.

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We've already had nudge economics on a grand scale.

We've already had state intervention.

The nudge was interest rates and getting as many people as possible to borrow as much as possible to fund consumption and the artificial blow-up of propoerty an land prices.

It has crippled the economy, not just for now but undermined almost every export-generating, income producing business by inflating living and working costs.

It beggars belief that the architects of this little ruse dare even to turn up to their Mansion House speeches or lecture the rest of us how to save money by not wasting food.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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