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 Read Quote
Even if we grade on a very generous curve, many Americans flunk when it comes to financial literacy. Richard Thaler Read Quote
When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out. Richard Thaler Read Quote
Don’t get trapped by looking at what the price was that you paid for some stock originally. Richard Thaler Read Quote
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 Read Quote
Economists discount any factors that would not influence the thinking of a rational person. Richard Thaler Read Quote
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 Read Quote
If there is one thing that most economists agree about in the realm of tax policy, it is that it’s best to broaden the base of any tax, all else being equal. That means minimizing the number of deductions and exclusions from taxable income in order to lower marginal rates and reduce distortions. Richard Thaler Read Quote
For many people, being asked to solve their own retirement savings problems is like being asked to build their own cars. Richard Thaler Read Quote
