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The concept of "nudging" has hit news headlines in recent years
following the implementation of nudge policies in many parts of the
world, the establishment of behavioural policy units in some
countries, and the award of the Nobel Prize in Economics to the
behavioural economist Richard Thaler in 2017. However, questions
remain about whether nudging is an optimal approach to
policy-making. This book presents a critical approach to the study
of nudging to highlight the foundations, rationale and effects of
current policy-making trends in the neoliberal age of behavioural
economics. In this provocative book, the author presents a
re-examination of the methodological foundations of behavioural
economics and its consequences for addressing the deep social and
economic policy challenges of our times. It is argued that,
although the concept of nudge proposed by Richard Thaler and Cass
Sunstein rejects the theorization of economic behaviour under
models of strict rationality, nudge policies focus on
methodological individualism in economic thinking and economic
policy. The complexity of social and economic policy problems of
the twenty-first century calls for a revision of our conceptual
outlooks, and to increase recognition of the failure of
methodological individualism in economics to address the
unprecedented social, political, and environmental challenges of
globalization. Offering a new take on the epistemological
assumptions underlying behaviourally-informed policies, this book
will prompt the general public to consider new ideas about the
darker side of behavioural economics.
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