Wednesday, 18 August 2010

QUOTE OF THE DAY: Compulsory saving…

_Quote So if the main justification for compulsory super is that “people are too stupid to save for themselves,” how can we say that a government made up of these same people will be able to determine the “right” level of savings?
                                   - Matt Nolan, The Visible Hand in Economics


  1. Just a note - I hate compulsory super, so I'm not saying I think people are too stupid to save for themselves.

    It's just, if that is the justification people are using - it seems weird that they would have faith that these same people could magically fix it when given policy hats.

  2. Hi Matt,

    I never took it any other way. Perhaps I should change the heading to make that clear for those who might?

  3. Cool thanks. I just wanted to make sure I wasn't giving off the wrong impression is all :)

  4. Certainly not in this office.

  5. i don't think the government is claiming to get the rate correct. they will just do it by trial and error. like everything else.