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" Tort reform is a complicated subject and not a panacea. "
Richard Thaler
Reform
Subject
Panacea
Related Quotes:
" 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
" High school seniors should receive help in how to think about a student loan and how to make sure that the education bought with the loan offers good prospects for repayment. "
Richard Thaler
Think
School
Good
" The wealth in many large estates has never been taxed because it is largely in the form of unrealized - therefore untaxed - capital gains. "
Richard Thaler
Large
Wealth
Never
" 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
" The good thing I will say about the Chicago School is that it was always about the world, not about the abstract. "
Richard Thaler
Say
Good
Chicago
" 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 more we turn down questionable offers like trip insurance and scrutinize 'one month' trials, the less incentive companies will have to use such schemes. "
Richard Thaler
Trials
Turn
Down
" A nudge is some feature of the environment that changes the behaviour of humans but would not change the behaviour of rational economic agents, what we call Econs. "
Richard Thaler
Economic
Environment
Changes
" You go out on the practice range, and something kind of clicks, and you start hitting the ball very crisply. And you're sure that you've found it, the holy grail - that all you have to do is hold your hand in a certain way. Then you go out on the golf course, and it's completely disappeared. "
Richard Thaler
Golf
You
Way
" Pundits are no better at forecasting election outcomes than they would be at predicting the final path of a hurricane. Smart pundits should consider either abandoning this activity or consulting with the geeks before rendering their guesses. "
Richard Thaler
Path
Smart
Hurricane
" 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
" As both a consumer and producer of newspaper articles, I have no beef with pay walls. But before signing up, I read the fine print. "
Richard Thaler
Pay
Producer
Walls
" Although the United States cannot unilaterally lower the price of oil, it can reduce its consumption by using oil more efficiently and by developing alternative sources of fuel. "
Richard Thaler
Fuel
Price
United States
" Signing up to be an organ donor should be at least as easy as downloading a song to your iPhone. "
Richard Thaler
Should
Song
iPhone
" 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
" Don't get trapped by looking at what the price was that you paid for some stock originally. "
Richard Thaler
Trapped
Paid
Looking
" Anybody who's ever been in a large organization realizes that 'optimizing' is not a word that would often be used to describe any large organization. The reason is that it's full of people, who are complicated. "
Richard Thaler
Used
Complicated
Organization
" As every successful parent learns, one way to encourage good behavior, from room-cleaning to tooth-brushing, is to make it fun. Not surprisingly, the same principle applies to adults. Adults like to have fun, too. "
Richard Thaler
Good
Parent
Have Fun
" The lesson of my field, behavioral economics, is that we need to understand the ways in which we differ from the rational human assumed in standard economic theory. "
Richard Thaler
Understand
Economics
Lesson
" 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
" The government employs scientists of many varieties in technical capacities, from estimating the environmental toxicity of a chemical to the structural soundness of a bridge. But when it comes to forming policies, these scientists and, especially, behavioral scientists are rarely at the table with the lawyers and the economists. "
Richard Thaler
Government
Environmental
Table
" Demanding that the rich get a tax cut as a condition for tax relief for others is simply elitist. "
Richard Thaler
Others
Relief
Rich
" You can't make evidence-based policy decisions without evidence. "
Richard Thaler
Evidence
Make
You
" If no estate tax is imposed, capital gains taxes can be avoided indefinitely. "
Richard Thaler
Estate
Taxes
Capital
" 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
" In some ways, the finding that financial education doesn't provide long-term payoffs is hardly surprising. After all, how much do you remember from your high school chemistry class? Unless you use chemistry at work, you probably don't recall much about ionic bonding. "
Richard Thaler
Education
Financial
Work
" One of society's thorniest problems is that children from poor families start school lagging badly behind their more affluent classmates in readiness. "
Richard Thaler
Children
Society
School
" Payroll savings plans are vital because they are essentially the only way that middle-class Americans reliably save for retirement. "
Richard Thaler
Retirement
Plans
Way
" Lotteries are just one way to provide positive reinforcement. Their power comes from the fact that the chance of winning the prize is overvalued. "
Richard Thaler
Way
Power
Positive
" How can government reduce the frequency and the severity of future catastrophes? Companies that have the potential to create significant harm must be required to pay for the costs they inflict, either before or after the fact. Economists agree on this general approach. The problem is in putting such a policy into effect. "
Richard Thaler
Government
Problem
Potential