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Meaning
This reads as an argument for making saving the default, not the exception. It can be taken to mean that people often do better when the easier path is also the sensible one, especially with decisions they may keep postponing. It lands in workplace policy, where automatic enrollment can help employees build retirement savings without requiring immediate action from everyone.
When It Was Said
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Who It Was Said To
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Historical Context
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Source
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Original Language & Translation
Originally said in English.
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About Richard Thaler
American economist, behavioral scientist
Richard H. Thaler is an American economist and behavioral scientist. He is the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business, and he served as president of the American Economic Association in 2015. Thaler is known for his work in behavioral economics, a field that examines how real people make economic decisions, often in ways that depart from standard theory. His writing and scholarship helped bring attention to the role of psychology in economic life and to the choices people make in markets, institutions, and everyday decisions.
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