The article "Libertarian Paternalism Is Not an Oxymoron" by Richard H. Thaler and Cass R. Sunstein explores the concept of libertarian paternalism, which combines elements of libertarianism and paternalism. The authors argue that it is both possible and legitimate for institutions to influence behavior while respecting freedom of choice. They highlight that many people's preferences are not well-formed and are influenced by default rules, framing effects, and starting points. In these situations, a form of paternalism is unavoidable. The authors advocate for libertarian paternalists to guide people's choices in welfare-promoting directions without eliminating freedom of choice. They provide examples from various areas, including savings behavior, labor law, and consumer protection, to illustrate how libertarian paternalism can be applied. The article also addresses common misconceptions about paternalism, such as the belief that it always involves coercion and that people always make choices that are in their best interest. The authors suggest that programs should be designed using cost-benefit analysis and that some psychological insights can guide reasonable judgments about when consumers will gain most by choosing for themselves.The article "Libertarian Paternalism Is Not an Oxymoron" by Richard H. Thaler and Cass R. Sunstein explores the concept of libertarian paternalism, which combines elements of libertarianism and paternalism. The authors argue that it is both possible and legitimate for institutions to influence behavior while respecting freedom of choice. They highlight that many people's preferences are not well-formed and are influenced by default rules, framing effects, and starting points. In these situations, a form of paternalism is unavoidable. The authors advocate for libertarian paternalists to guide people's choices in welfare-promoting directions without eliminating freedom of choice. They provide examples from various areas, including savings behavior, labor law, and consumer protection, to illustrate how libertarian paternalism can be applied. The article also addresses common misconceptions about paternalism, such as the belief that it always involves coercion and that people always make choices that are in their best interest. The authors suggest that programs should be designed using cost-benefit analysis and that some psychological insights can guide reasonable judgments about when consumers will gain most by choosing for themselves.