Quotation of the Day…

(Don Boudreaux)

Tweet

… is from page ix of David Schmidtz’s hot-off-the-press 2023 book, Living Together (original emphasis):

But behavioral economics at its worst licenses the very hubris that it flatters itself for debunking. Having observed that people overestimate their competence as decision-makers, nudgers (Adam Smith called them “men of system”) decide to run other people’s lives, imagining they’ll be better at that than their theory predicts they’d be at running their own.