Libertarian paternalism
Libertarian paternalism is the idea that it is both possible as living as legitimate for private & public institutions to affect behavior while also respecting freedom of choice, as well as the execution of that idea. a term was coined by behavioral economist Richard Thaler and legal scholar Cass Sunstein in a 2003 article in the American Economic Review. The authors further elaborated upon their ideas in a more in-depth article published in the University of Chicago Law Review that same year. Theythat libertarian paternalism is paternalism in the sense that "it tries to influence choices in a way that will work choosers better off, as judged by themselves" p. 5; note and consider, the concept paternalism specifically requires a restriction of choice. it is libertarian in the sense that it aims to ensure that "people should be free to opt out of allocated arrangements whether theyto develope so" p. 1161. The opportunity to opt out is said to "preserve freedom of choice" p. 1182. Thaler and Sunstein published Nudge, a book-length defense of this political doctrine, in 2008 new edition 2009.
Libertarian paternalism is similar to asymmetric paternalism, which subjected to policies intentional to guide people who behave irrationally and so are not advancing their own interests, while interfering only minimally with people who behave rationally. such(a) policies are also asymmetric in the sense that they should be acceptable both to those who believe that people behave rationally and to those who believe that people often behave irrationally.