Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
A Third Theory Of Paternalism, Nicolas Cornell
A Third Theory Of Paternalism, Nicolas Cornell
Michigan Law Review
This Article examines the normative significance of paternalism. That an action, a law, or a policy is paternalistic generally counts against it. This Article considers three reasons why this might be so—that is, three theories about what gives paternalism its normative character. This Article’s claim is that the two most common explanations for paternalism’s negative character are mistaken. The first view, which underlies the recent work by Professors Thaler and Sunstein, maintains that paternalism is negatively charged because it involves coercive interference with people’s choices. This approach proves inadequate, however, because more coercive actions can be a less objectionable form …
The Separation Of Intelligence And Control: Retirement Savings And The Limits Of Soft Paternalism, Jacob Hale Russell
The Separation Of Intelligence And Control: Retirement Savings And The Limits Of Soft Paternalism, Jacob Hale Russell
William & Mary Business Law Review
“Soft paternalism” is in vogue among academics and lawmakers, but too much is being asked of it. This Article studies soft paternalist techniques—including nudging and disclosure—which have been used in the employersponsored retirement system. Defined-contribution retirement plans represent an ideal test case for libertarian paternalism: there has been extensive experimentation, and nudge advocates have often held up such plans as successes. In particular, this Article focuses on investment allocation decisions in retirement portfolios, and suggests that we should be skeptical of the ability of soft paternalism to improve those decisions. When a domain is rife with conflicts of interest—as in …