Best MR comment this year

… is this comment by John Thacker on this post:

Neoclassical economists argue that however people behave, they are expressing their true preferences. However people behave, they are right, according to the neoclassical economists. Any behavior that differs from stated assumptions of what is right is really showing some sort of revealed preference, demonstrating that the person herself has some different standard of what is best for herself than the supposed experts.

It is the paternalists and the behavioral economists who argue that people are “wrong” in their choices. It is the paternalist and the behavioral economists and the busybodies who “wish to depose of their people and choose a new one,” deciding for them because they are “irrational” and make the “wrong” choices. It is the paternalists and the behavioral economists and others who believe that people are irrational who think that people must be protected from their wrong decisions, who should have others decide.

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