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" Demanding that the rich get a tax cut as a condition for tax relief for others is simply elitist. "
Richard Thaler
Others
Relief
Rich
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" Here is a guiding principle: If a business collects data on consumers electronically, it should provide them with a version of that data that is easy to download and export to another Web site. "
Richard Thaler
Principle
Web
Easy
" Everyone knows it's dangerous to ingest gasoline or to inhale its fumes. But I am starting to believe that merely thinking about the price of gasoline can damage cognitive processing. "
Richard Thaler
Thinking
I Am
Dangerous
" For many people, being asked to solve their own retirement savings problems is like being asked to build their own cars. "
Richard Thaler
Build
People
Problems
" Companies are accumulating vast amounts of information about your likes and dislikes. But they are doing this not only because you're interesting. The more they know, the more money they can make. "
Richard Thaler
Interesting
Information
Money
" The supply price and the demand price should be roughly the same. You're not supposed to have two different prices. According to economists. "
Richard Thaler
Demand
Price
Two
" I don't think it says anywhere in the Bible that tithing should be calculated on a before-tax basis. "
Richard Thaler
Think
Calculated
Bible
" Even a mother - Jewish or not - can't worry about everything. So it is important that we limit our worries to real as opposed to imaginary risks. "
Richard Thaler
Risks
Limit
Important
" Behavioral economics offers a plausible explanation for overreactions by the market. For example, a long period of bad performance can lead to stereotyping. "
Richard Thaler
Performance
Bad
Economics
" Real people have trouble balancing their checkbooks, much less calculating how much they need to save for retirement; they sometimes binge on food, drink, or high-definition televisions. They are more like Homer Simpson than Mr. Spock. "
Richard Thaler
Need
Retirement
Trouble
" If you're not putting enough away for emergencies or retirement, making commitments in advance, such as signing up for payroll withholding, can help. "
Richard Thaler
Retirement
Up
You
" Countries all around the world, starting with the U.K., have started behavioural insight teams, often referred to as nudge units. And they seem to be doing lots of good. "
Richard Thaler
Doing
Starting
World
" Don't get trapped by looking at what the price was that you paid for some stock originally. "
Richard Thaler
Trapped
Paid
Looking
" The main thing that you learn in grad school, or should learn, is how to think like an economist. The rest is just math. "
Richard Thaler
Think
Like
School
" It's essential that we understand things like the free-rider problem, but we also need to understand that, fortunately, humans are a little nicer than economists give them credit for. Some people actually leave money at roadside fruit stands; some people give money to NPR so we can listen to it. "
Richard Thaler
Problem
People
Fruit
" Social Security may be the most beloved of all the government's programs, partly because it requires so little thinking. You pay taxes while you work, then you and your spouse collect until you die. "
Richard Thaler
Security
Work
Thinking
" When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out. "
Richard Thaler
Employees
Out
Choose
" The voting public is not very good at attributing credit and blame to presidents. They get too much credit when things go well and too much blame when things go badly. The same applies to coaches, C.E.O.'s, parents, and anyone else in charge. "
Richard Thaler
Blame
Credit
Go
" Whenever I'm asked to autograph a copy of 'Nudge,' the book I wrote with Cass Sunstein, the Harvard law professor, I sign it, 'Nudge for good.' Unfortunately, that is meant as a plea, not an expectation. "
Richard Thaler
Good
Copy
Book
" In a democracy, if a government creates bad policies, it can be voted out of office. Competition in the private sector, however, can easily work to encourage phishing rather than stifle it. "
Richard Thaler
Government
Democracy
Work
" It makes sense for social scientists to become more involved in policy because many of society's most challenging problems are, in essence, behavioral. "
Richard Thaler
Society
Become
More
" People make just as many mistakes when the stakes go up, maybe more. "
Richard Thaler
Just
Go
Mistakes
" For amateur golfers, I think one of the biggest mistakes is to model their play on professionals. "
Richard Thaler
I Think
Model
Play
" Arthur Laffer's idea, that lowering taxes could increase revenues, was logically correct. If tax rates are high enough, then people will go to such lengths to avoid them that cutting taxes can increase revenues. What he was wrong about was in thinking that income tax rates were already so high in the 1970s that cutting them would raise revenues. "
Richard Thaler
Wrong
Go
People
" Parents want their children to excel, callers to a victims' hot line want help, and sick people want to get well. Offering aids is like providing an alarm clock: it may help people get to an appointment on time, but no one is forcing them to use it. "
Richard Thaler
Parents
Children
People
" We all need a lot of humility, and especially about the economy. "
Richard Thaler
Economy
Humility
Lot
" The ability of businesses to monitor our behavior is already a fact of life, and it isn't going away. Of course we must protect our privacy rights. But if we're smart, we'll also use the data that is being collected to improve our own lives. "
Richard Thaler
Behavior
Smart
Privacy
" You can't make evidence-based policy decisions without evidence. "
Richard Thaler
Evidence
Make
You
" Tax cuts are one of many ways to stimulate the economy. Building infrastructure, for example, is another. "
Richard Thaler
Ways
Tax
Economy
" If we think that high marginal tax rates are bad because they distort incentives, the same is then true for tax subsidies. "
Richard Thaler
Same
High
Bad
" The lesson for businesses is you are dealing with real people. Those are your customers, those are your employees, those are your bosses, and the better you understand how real people tick, the more successfully you will be able to accomplish your goals. "
Richard Thaler
Employees
You
People