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New on Paternalism

Published online by Cambridge University Press:  09 November 2000

Paul Calcott
Affiliation:
Victoria University of Wellington

Abstract

Individuals often seem to misjudge their own interests. One reason is inadequate information. Other reasons are failures of reasoning and volition. These reasons have all been construed as paternalist motives for the state to intervene. But in a recent article in this journal, New (1999), criticizes earlier accounts of paternalism. He argues that imperfect information constitutes a standard form of market failure, and consequently policies that respond to it do not require a paternalist motivation. The purpose of this note is to evaluate New's claim.

Type
Review Article
Copyright
© 2000 Cambridge University Press

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