Abstract

The concept of libertarian paternalism is already the subject of an increasingly intense academic debate. At the same time, it is gaining popularity among political practitioners. This paper argues that, contrary to its own claims, libertarian paternalism conflicts with basic principles of classical liberalism. The paper starts with a short summary of the development economics has taken from classical homo economicus to modern behavioral economics, and goes on to show why the search for efficient paternalist interventions is seemingly plausible from the perspective of behavioral economics. The argument continues with a discussion of some fundamental problems of libertarian paternalism, and it is shown that paternalism, also of the libertarian kind, is conflicting with two tenets of classical liberalism: autonomy of heterogeneous individuals and openness for long-term processes of economic and societal change.

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