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While social media and big corporate makes effective use of Behavioral Economics, its use and validity in policymaking are in question. The use of Nudge and Prospect Theory by the elected public servants in making policies for the good of the people is a slippery slope that could threaten the freedom and liberty of people at the cost of more effective policies. While the debate has gained prominence in recent times, a discussion on the topic with mentions of  John Stuart Mills, Adam Smith, and numerous prominent economists and philosophers is underway on our Spotify, Google Podcasts, Apple Podcasts, and Anchor channels. 

Would you give an elected public servant the right to Nudge you towards a choice?

The episode at a glance:

- Some Theories of Economics- Prospect and Nudge Theory, some of them

- Development Economics and Behavior of People

- Ethical concerns of using Behavioral Economics in Policymaking by public servants

- Impact of Behavioral Economics on Markets

Welcome to another episode of Project Statecraft's, A Tryst with Statecraft. We hope you enjoy and take away from it and help others do the same as we strive in our fight to bridge the gap between the youth and the decision-makers.