I think one lesson we have to learn is that there's a lot more risk than we're giving credit to, a lot more what economist calls systematic risk. Richard Thaler More Quotes by Richard Thaler More Quotes From Richard Thaler 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 will go people thinking Leaders are important but not omnipotent. Richard Thaler leaders omnipotent important Tax cuts are one of many ways to stimulate the economy. Building infrastructure, for example, is another. Richard Thaler tax infrastructure economy building 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 have-fun good parent way 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 table bridge environmental government Shopping for an annuity with hundreds of thousands of dollars at stake can be daunting, even for an economist. Richard Thaler stake even shopping dollars I don't think it says anywhere in the Bible that tithing should be calculated on a before-tax basis. Richard Thaler anywhere says think bible I practice what has come to be called behavioral economics. Richard Thaler behavioral come economics practice
