Economists have always been moralists, but since the mid-20th century many have also become wannabe technocrats—unelected experts who make public policy decisions based on specialized information rather than public opinion. A prime example is the new “libertarian paternalists” (a group that is definitely paternalistic but not very libertarian) who believe that government should attempt to influence the economic choices of affected parties in a way that will make choosers better off. Continue Reading...
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