I'm all for empowerment and education, but the empirical evidence is that it doesn't work. That's why I say make it easy. Richard Thaler More Quotes by Richard Thaler More Quotes From Richard Thaler "Save more tomorrow" is a nudge to help people do what they know they want to do, which is save more, but they can't bring themselves to save more now. Just like many of us are planning to go on diets next month, or maybe in two months, certainly not tonight. Richard Thaler tonight two people There's a second component of a good savings plan, which is something that a colleague of mine called Schlomo Benartzi and I developed many years ago, that we call "save more tomorrow." Richard Thaler saving tomorrow years There's a reason why start-ups, especially disruptive start-ups - like Google or Amazon or Uber - are full of young people. That's because young people are not as wedded to the old fashioned ways of doing things. Richard Thaler doing things reason people For many people, being asked to solve their own retirement savings problems is like being asked to build their own cars. Richard Thaler problems own retirement people Payroll savings plans are vital because they are essentially the only way that middle-class Americans reliably save for retirement. Richard Thaler only because retirement way It's not that we can predict bubbles - if we could, we would be rich. But we can certainly have a bubble warning system. Richard Thaler predict bubble rich warning In the 1940s, economics started getting highly mathematical. It was basically because economists weren't smart enough to write down models of real behavior that they started writing down models of highly rational behavior - and they kind of forgot about humans. Richard Thaler down economics smart behavior 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 help you enough retirement I am all for trying to teach household finance in schools, starting as early as possible. And when it comes to high school, I think learning about compound interest is at least as important as trigonometry or memorizing the names of all 50 state capitals. Richard Thaler i-am finance learning school One reason for high health care costs is that patients fail to follow their treatment regimen. Richard Thaler follow high care health 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 time children people We behavioralists differ from our more traditional brethren in the way we characterize agents in the economy. Richard Thaler our more economy way 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 drink food sometimes people When it comes to my health, I would rather my doctor base her decisions on science rather than what she, or some lawyer, thinks will stand up in court. Richard Thaler doctor lawyer health science 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 price you different two The Nobel Prize is going to be 'fun money' - for an occasion, when my wife and I want a $50 bottle of wine. Richard Thaler wife money wine fun God did not say that you should be able to borrow one hundred percent of the price of a house. Richard Thaler say you god house We all need a lot of humility, and especially about the economy. Richard Thaler need about economy humility The sad truth is that many behavioral economists know very little about psychology. Richard Thaler know truth-is sad truth It is true that I am one of the co-authors of 'Nudge,' and I am a behavioral economist, but it does not mean that everything we write about in that book is behavioral economics, nor does it mean that my co-author, the distinguished legal scholar Cass Sunstein, is a behavioral economist. Richard Thaler legal i-am economics book
