Americans are failing to save for retirement, investing their money foolishly, and choosing health insurance plans that poorly meet their needs. Why do so many of us make bad choices on such important issues? Recent scientific research shows that people are susceptible to cognitive biases. Because we are human, we are fallible, and because we are fallible, we can use some help. Richard H. Thaler and Cass R. Sunstein examine these issues in their new book, Nudge: Improving Decisions about Health, Wealth, and Happiness (Yale University Press, 2008). They argue that nudges can be deployed easily and inexpensively in many contexts, producing concrete benefits for real people.
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Please join AEI as the chief actuary for Medicare summarizes the report’s results, followed by a panel discussion of what those spending trends are likely to mean for seniors, taxpayers, the health industry, and federal policy.
Please join us as four of Washington’s most distinguished political observers will revisit the Watergate hearings and discuss reforms that followed.