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Phishing for Phools

Language EnglishEnglish
Book Paperback
Book Phishing for Phools George A. Akerlof
Libristo code: 01018511
Publishers Princeton University Press, July 2016
Ever since Adam Smith, the central teaching of economics has been that free markets provide us with... Full description
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Ever since Adam Smith, the central teaching of economics has been that free markets provide us with material well-being, as if by an invisible hand. In Phishing for Phools, Nobel Prize-winning economists George Akerlof and Robert Shiller deliver a fundamental challenge to this insight, arguing that markets harm as well as help us. As long as there is profit to be made, sellers will systematically exploit our psychological weaknesses and our ignorance through manipulation and deception. Rather than being essentially benign and always creating the greater good, markets are inherently filled with tricks and traps and will "phish" us as "phools." Phishing for Phools explores the central role of manipulation and deception in fascinating detail in each of these areas and many more. It thereby explains a paradox: why, at a time when we are better off than ever before in history, all too many of us are leading lives of quiet desperation. At the same time, the book tells stories of individuals who have stood against economic trickery--and how it can be reduced through greater knowledge, reform, and regulation.

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About the book

Full name Phishing for Phools
Language English
Binding Book - Paperback
Date of issue 2016
Number of pages 288
EAN 9780691173023
ISBN 9780691173023
Libristo code 01018511
Weight 364
Dimensions 135 x 204 x 24
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