You’re Stupid, So We Are Going to Take Away Your Freedom

In a country based on the principle of liberty, should we really contemplate depriving people of freedom because they sometimes don’t make choices experts think are best for them? My title really understates the liberty-depriving philosophy of the nanny state. More accurately, it is: Some people make what we think are bad choices, so we are going to deprive everyone of liberty.
I’m thinking about this after reading Harvard Professor John Y. Campbell’s article in the May 2016 issue of the American Economic Review titled “Restoring Rational Choice: The Challenge of Rational Consumer Regulation.” Campbell reviews several bad financial decisions consumers

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