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Phishing for Phools: The Economics of Manipulation and Deception
by Akerlof, George A.; Shiller,... | PB | Acceptable
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“Readable copy. Pages may have considerable notes/highlighting. ~ ThriftBooks: Read More, Spend ”... Read moreAbout condition
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A book with obvious wear. May have some damage to the book cover but the book is still completely intact. The binding may be slightly damaged around the edges but it is still completely intact. May have some underlining and highlighting of text and some writing in the margins, but there are no missing pages or anything else that would compromise the readability or legibility of the text. See the seller’s listing for full details and description of any imperfections.
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Item specifics
- Condition
- Acceptable
- Seller notes
- Binding
- Paperback
- Weight
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- Product Group
- Book
- IsTextBook
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- ISBN
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About this product
Product Identifiers
Publisher
Princeton University Press
ISBN-10
0691173028
ISBN-13
9780691173023
eBay Product ID (ePID)
221928582
Product Key Features
Book Title
Phishing for Phools : the Economics of Manipulation and Deception
Number of Pages
288 Pages
Language
English
Publication Year
2016
Topic
Consumer Behavior, Finance / General, General, Free Enterprise
Genre
Psychology, Business & Economics
Format
Trade Paperback
Dimensions
Item Height
0.6 in
Item Weight
9 Oz
Item Length
8 in
Item Width
5.2 in
Additional Product Features
Intended Audience
Trade
Reviews
"I highly recommend this, even for those who might disagree with the authors' outlook. Their case studies are illuminating, and their insights on the way markets work are fascinating. When you consider the sorry state of the personal finances of the median working age family in the United States today, it's hard to disagree with their central thesis that our current system isn't working properly." --John Reeves, The Motley Fool, USA Today, "This unusual book offers a simple but challenging corrective to the assumptions made by most mainstream economists. . . . Probably not every reader will agree with every interpretation or argument--but every reader will find something that enlightens and stimulates." --James Ledbetter, Yale Alumni Magazine, "This fun but serious book tells how the standard story about free markets often gets it wrong. Indeed, Akerlof and Shiller suggest that we should drop the view of markets as generally benign institutions. The argument is laid out with the help of fascinating anecdotes, the language is conversational, and the book is easy to read. It is addressed to a broad audience, but economists will enjoy it too." --Dani Rodrik, author of The Globalization Paradox, George A. Akerlof, Co-Winner of the 2001 Nobel Prize in Economics Robert J. Shiller, Co-Winner of the 2013 Nobel Prize in Economics Honorable Mention for the 2016 PROSE Award in Economics, Association of American Publishers One of The Independent 's Best Economics Books 2015 One of LinkedIn's Best Business Books of 2015 One of BusinessInsider.com's Best Business Books of 2015 One of Legal Theory Bookworm's Books of the Year 2015 Longlisted for the FT & McKinsey Business Book of the Year 2015, "The book is easy to read and relate; and more importantly will make you start thinking of the number of times you have been phished. The list would be endless!" ---Madan Sabnavis, BusinessWorld,, "With accessible language and everyday examples, Shiller and Akerlof are taking on the powerful belief that aside from a few blemishes (like widening income inequality) only fools advocate interfering with the free market." ---Chris Farrell, Minneapolis Star Tribune, "The book offers powerful support for a skeptical view of free markets, but it's also a helpful guide for consumers to avoid getting ripped off in the course of making important purchases." ---Chris Matthews, Fortune, As you would expect, it's a very clearly written book with tons of examples. And it makes a simple and powerful point about the fragility of the normative, welfare economics conclusions economists tend to draw. ---Diane Coyle, The Enlightened Economist, " Phishing for Phools is an intellectual tour de force. It may change your image of the invisible hand into an invisible phoot, always looking to trip you up. Read it for phun; read it for wisdom." --Alan S. Blinder, author of After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead, "Its critique of conventional economics is more powerful and comprehensive--and more paternalistic--than that of Animal Spirits ." ---Carlos Lozada, Washington Post, Phishing for Phools forswears technical language, making this book accessible not only to economists but to consumers and policymakers. It should make everyone rethink the unfettered free-market model. ---Brenda Jubin, Investing.com,, I highly recommend this, even for those who might disagree with the authors' outlook. Their case studies are illuminating, and their insights on the way markets work are fascinating. When you consider the sorry state of the personal finances of the median working age family in the United States today, it's hard to disagree with their central thesis that our current system isn't working properly. ---John Reeves, The Motley Fool, USA Today, "As Akerlof and Shiller remind us, the same incentives that lead sellers to introduce innovations that improve quality and reduce costs also ensure that no profitable opportunity to cheat us will remain unexploited. This highly readable and insightful book will transform how we think about the role of government." --Robert H. Frank, author of The Economic Naturalist, Narratives in this impressive book tell how to avoid being tricked by means of better enforcement and being told of pending scams. . . . [O]ne of the few titles dealing with fraud in the marketplace., [ Phishing for Phools ] serves the important purpose of holding up a mirror to economics, a subject that prides itself on (supposedly) being the most sophisticated of all the social sciences. Economics may look sophisticated on paper, but it is often completely out of touch when it comes to reality. ---Victoria Bateman, Times Higher Education, An interesting and entertaining new book by George Akerlof and Robert Shiller looks at the role of trickery in market economies. Phishing for Phools explains that sellers are often out to deceive you, and shows that this isn't an occasional glitch in the market system so much as an intrinsic and pervasive trait. . . . Phishing for Phools aims to help readers understand their psychological weaknesses, so that the phishermen can be phended off more ephectively. ---Clive Crook, Bloomberg View, "An interesting and entertaining new book by George Akerlof and Robert Shiller looks at the role of trickery in market economies. Phishing for Phools explains that sellers are often out to deceive you, and shows that this isn't an occasional glitch in the market system so much as an intrinsic and pervasive trait. . . . Phishing for Phools aims to help readers understand their psychological weaknesses, so that the phishermen can be phended off more ephectively." ---Clive Crook, Bloomberg View, The book is the result of deep thinking and presented in an entertaining and easy-to-grasp manner. ---Leonhard K. Lades, Journal of Bioeconomics, "Akerlof and Shiller present convincing evidence of how tobacco, pharmaceutical, and liquor companies and politicians weasel a chapter of their own into our life stories, abusing the mutual storytelling--with all its signs and wonders--that is elemental to our humanity." --Peter Lewis, Barnes & Noble Review, "Bob and George urge us to slap Adam Smith's invisible hand when it steals from everybody's cookie jar. They ask us to ponder those situations, economic or political, that provide particularly tempting opportunities to phish for phools. . . . Penetrating insights rendered in accessible prose." ---Marlene Lang May, Commonweal, [A] surprisingly readable yet highly original book . . . the evidence and explanations marshaled by Akerlof and Shiller are compelling and they have profound political implications . . . an enlightening read by two expert economists. It should be required reading for policy makes and for consumers (which is to say, all of us. . . . [An] important, sobering book. ---Oliver Kamm, The Times, "It's a very clearly written book with tons of examples. And it makes a simple and powerful point about the fragility of the normative, welfare economics conclusions economists tend to draw." -- Enlightened Economist, Phishing for Phools is packed with examples--including subprime mortgages, pharmaceuticals, political campaigns, gym memberships, credit cards, cars and cranberry juice labels--of the pervasiveness of deception and manipulation in our economy and the price it exacts on individuals and the society at large. ---Glenn C. Altschuler, Tulsa World, " Phishing for Phools forswears technical language, making this book accessible not only to economists but to consumers and policymakers. It should make everyone rethink the unfettered free-market model." ---Brenda Jubin, Investing.com, "[A] surprisingly readable yet highly original book . . . the evidence and explanations marshaled by Akerlof and Shiller are compelling and they have profound political implications . . . an enlightening read by two expert economists. It should be required reading for policy makes and for consumers (which is to say, all of us. . . . [An] important, sobering book." --Oliver Kamm, The Times, Its critique of conventional economics is more powerful and comprehensive--and more paternalistic--than that of Animal Spirits . ---Carlos Lozada, Washington Post, "I highly recommend this, even for those who might disagree with the authors' outlook. Their case studies are illuminating, and their insights on the way markets work are fascinating. When you consider the sorry state of the personal finances of the median working age family in the United States today, it's hard to disagree with their central thesis that our current system isn't working properly." ---John Reeves, The Motley Fool, USA Today, " Phishing for Phools is packed with examples--including subprime mortgages, pharmaceuticals, political campaigns, gym memberships, credit cards, cars and cranberry juice labels--of the pervasiveness of deception and manipulation in our economy and the price it exacts on individuals and the society at large." ---Glenn C. Altschuler, Tulsa World, "[Akerlof and Shiller] want to go far beyond behavioral economics, at least in its current form. They offer a much more general, and quite damning, account of why free markets and competition cause serious problems. . . . They are intellectual renegades. . . . Akerlof and Shiller make a convincing argument that phishing occurs because of the operation of the invisible hand, not in spite of it. . . . [This] extraordinary book tells us something true, and profoundly important, about the operation of the invisible hand." ---Cass Sunstein, New York Review of Books, "The book is the result of deep thinking and presented in an entertaining and easy-to-grasp manner." ---Leonhard K. Lades, Journal of Bioeconomics, "The book is easy to read and relate; and more importantly will make you start thinking of the number of times you have been phished. The list would be endless!" ---Madan Sabnavis, BusinessWorld, "As you would expect, it's a very clearly written book with tons of examples. And it makes a simple and powerful point about the fragility of the normative, welfare economics conclusions economists tend to draw." --Diane Coyle, The Enlightened Economist, "Narratives in this impressive book tell how to avoid being tricked by means of better enforcement and being told of pending scams. . . . [O]ne of the few titles dealing with fraud in the marketplace." -- Library Journal, "A phabulous book! This is economics after the behavioral revolution at its best." --Samuel Bowles, Santa Fe Institute, "Using compelling examples of flawed decision making from advertising, health care and personal finances, the authors identify our rational weak spots and arm readers with the ability to resist manipulation." -- Scientific American Mind, "An interesting and entertaining new book by George Akerlof and Robert Shiller looks at the role of trickery in market economies. Phishing for Phools explains that sellers are often out to deceive you, and shows that this isn't an occasional glitch in the market system so much as an intrinsic and pervasive trait. . . . Phishing for Phools aims to help readers understand their psychological weaknesses, so that the phishermen can be phended off more ephectively." --Clive Crook, Bloomberg View, It's a very clearly written book with tons of examples. And it makes a simple and powerful point about the fragility of the normative, welfare economics conclusions economists tend to draw., This unusual book offers a simple but challenging corrective to the assumptions made by most mainstream economists. . . . Probably not every reader will agree with every interpretation or argument--but every reader will find something that enlightens and stimulates. ---James Ledbetter, Yale Alumni Magazine, This interesting book is written by economists mainly for economists, but it includes many entertaining stories about business behavior (and some disturbing ones), told in lively and accessible prose., "Akerlof and Shiller provide a phenomenal guide to the pitfalls of the phree market. This redemptive revision of economic theory explains the built-in risks of rip-offs in a profit-maximizing world." --Nancy Folbre, professor emerita, University of Massachusetts, Amherst, "This insightful book exposes a fundamental contradiction in the market system. Consumers and policymakers beware: profit-seeking businesses foster efficiency and innovation, but have strong incentives to manipulate you and sophisticated new data tools allow them to do so in personalized ways." --Laura D'Andrea Tyson, University of California, Berkeley, "[ Phishing for Phools ] serves the important purpose of holding up a mirror to economics, a subject that prides itself on (supposedly) being the most sophisticated of all the social sciences. Economics may look sophisticated on paper, but it is often completely out of touch when it comes to reality." ---Victoria Bateman, Times Higher Education, Where Akerlof and Shiller break new ground is the sweeping application of the idea of the 'phishing equilibrium' to finance. . . . The style of Phishing for Phools will be familiar to fans of Shiller's work: light on jargon and pacy enough not to outstay its welcome. The authors tell some engaging tales. ---Robin Harding, Financial Times, The book is easy to read and relate; and more importantly will make you start thinking of the number of times you have been phished. The list would be endless! ---Madan Sabnavis, BusinessWorld,, "Akerlof and Shiller show that unregulated free markets systematically make people worse off by providing the unscrupulous with opportunities to take advantage of the unwary." ---Adam Bouyamourn, The National, "This unusual book offers a simple but challenging corrective to the assumptions made by most mainstream economists. . . . Probably not every reader will agree with every interpretation or argument--but every reader will find something that enlightens and stimulates." ---James Ledbetter, Yale Alumni Magazine, With accessible language and everyday examples, Shiller and Akerlof are taking on the powerful belief that aside from a few blemishes (like widening income inequality) only fools advocate interfering with the free market. ---Chris Farrell, Minneapolis Star Tribune, "With accessible language and everyday examples, Shiller and Akerlof are taking on the powerful belief that aside from a few blemishes (like widening income inequality) only fools advocate interfering with the free market." --Chris Farrell, Minneapolis Star Tribune, "[Akerlof and Shiller] want to go far beyond behavioral economics, at least in its current form. They offer a much more general, and quite damning, account of why free markets and competition cause serious problems. . . . They are intellectual renegades. . . . Akerlof and Shiller make a convincing argument that phishing occurs because of the operation of the invisible hand, not in spite of it. . . . [This] extraordinary book tells us something true, and profoundly important, about the operation of the invisible hand." --Cass Sunstein, New York Review of Books, George Akerlof and Robert Shiller, two of the biggest names in economics for the past half century, take aim at the widespread assumption that free markets ted to produce the best outcomes. ---Adam Creighton, The Australian, "George Akerlof and Robert Shiller, two of the biggest names in economics for the past half century, take aim at the widespread assumption that free markets ted to produce the best outcomes." --Adam Creighton, The Australian, "As you would expect, it's a very clearly written book with tons of examples. And it makes a simple and powerful point about the fragility of the normative, welfare economics conclusions economists tend to draw." ---Diane Coyle, The Enlightened Economist, "The book offers powerful support for a skeptical view of free markets, but it's also a helpful guide for consumers to avoid getting ripped off in the course of making important purchases." --Chris Matthews, Fortune, "Akerlof and Shiller extend the standard 'market failure' theory--which says that there is a potential role for government intervention when markets fail--by showing that markets fail not only because of the familiar reasons of externalities and unfair income distribution, but also because of the pervasive phenomenon of 'phishing for phools' (profit-seeking through manipulation and deception). They point the way to a new paradigm freed from the constraints of market failure theory, able to illuminate 'control by capital' (partly through phishing) and to prescribe for 'control of capital' (partly by techniques for limiting phishing suggested here)." --Robert H. Wade, London School of Economics, Akerlof and Shiller show that unregulated free markets systematically make people worse off by providing the unscrupulous with opportunities to take advantage of the unwary. ---Adam Bouyamourn, The National, Bob and George urge us to slap Adam Smith's invisible hand when it steals from everybody's cookie jar. They ask us to ponder those situations, economic or political, that provide particularly tempting opportunities to phish for phools. . . . Penetrating insights rendered in accessible prose. ---Marlene Lang May, Commonweal, This book was enjoyable to read, and the expertise and knowledge of the authors are abundantly evident. ---William Holcomb, PsycCRITIQUES, " Phishing for Phools forswears technical language, making this book accessible not only to economists but to consumers and policymakers. It should make everyone rethink the unfettered free-market model." --Brenda Jubin, Investing.com, "George Akerlof and Robert Shiller, two of the biggest names in economics for the past half century, take aim at the widespread assumption that free markets ted to produce the best outcomes." ---Adam Creighton, The Australian, "Akerlof and Shiller present convincing evidence of how tobacco, pharmaceutical, and liquor companies and politicians weasel a chapter of their own into our life stories, abusing the mutual storytelling--with all its signs and wonders--that is elemental to our humanity." ---Peter Lewis, Barnes & Noble Review, "The book is the result of deep thinking and presented in an entertaining and easy-to-grasp manner." --Leonhard K. Lades, Journal of Bioeconomics, [Akerlof and Shiller] want to go far beyond behavioral economics, at least in its current form. They offer a much more general, and quite damning, account of why free markets and competition cause serious problems. . . . They are intellectual renegades. . . . Akerlof and Shiller make a convincing argument that phishing occurs because of the operation of the invisible hand, not in spite of it. . . . [This] extraordinary book tells us something true, and profoundly important, about the operation of the invisible hand. ---Cass Sunstein, New York Review of Books, George A. Akerlof, Co-Winner of the 2001 Nobel Prize in Economics Robert J. Shiller, Co-Winner of the 2013 Nobel Prize in Economics Winner of the 2016 Gold Medal in Economics, Axiom Business Book Awards Honorable Mention for the 2016 PROSE Award in Economics, Association of American Publishers One of The Independent 's Best Economics Books 2015 One of LinkedIn's Best Business Books of 2015 One of BusinessInsider.com's Best Business Books of 2015 One of Legal Theory Bookworm's Books of the Year 2015 Longlisted for the Financial Times & McKinsey Business Book of the Year 2015, "This interesting book is written by economists mainly for economists, but it includes many entertaining stories about business behavior (and some disturbing ones), told in lively and accessible prose." -- Foreign Affairs, " Phishing for Phools forswears technical language, making this book accessible not only to economists but to consumers and policymakers. It should make everyone rethink the unfettered free-market model." ---Brenda Jubin, Investing.com,, "[A] surprisingly readable yet highly original book . . . the evidence and explanations marshaled by Akerlof and Shiller are compelling and they have profound political implications . . . an enlightening read by two expert economists. It should be required reading for policy makes and for consumers (which is to say, all of us. . . . [An] important, sobering book." ---Oliver Kamm, The Times, "In an entertaining and lively account, Akerlof and Shiller show that while the pursuit of profits may lead to products that enrich our lives, it may also lead to manipulation and deception. Much of recent innovation has led to products that make cheating the public easier. The implications are complex and profound." --Joseph E. Stiglitz, Nobel Laureate in Economics, " Phishing for Phools is a coherent and highly plausible explanation of why markets--although usually beneficial--can lead to undesirable outcomes. The book takes an intriguing approach and gives many interesting examples." --Diane Coyle, author of GDP: A Brief but Affectionate History, George A. Akerlof, Co-Winner of the 2001 Nobel Prize in Economics Robert J. Shiller, Co-Winner of the 2013 Nobel Prize in Economics Winner of the 2016 Gold Medal in Economics, Axiom Business Book Awards Honorable Mention for the 2016 PROSE Award in Economics, Association of American Publishers One of The Independent 's Best Economics Books 2015 One of LinkedIn's Best Business Books of 2015 One of BusinessInsider.com's Best Business Books of 2015 One of Legal Theory Bookworm's Books of the Year 2015 Longlisted for the FT & McKinsey Business Book of the Year 2015, "Where Akerlof and Shiller break new ground is the sweeping application of the idea of the 'phishing equilibrium' to finance. . . . The style of Phishing for Phools will be familiar to fans of Shiller's work: light on jargon and pacy enough not to outstay its welcome. The authors tell some engaging tales." --Robin Harding, Financial Times, "The authors provide is a . . . unifying theory for all kinds of trickery, an economic explanation for why deception is so rampant. It takes many of our scattered findings about humanity's blind spots--both psychological weakness and a lack of perfect information--and weaves them into a comprehensive framework that has the potential to be devastating for free market fundamentalists." --Victoria Finkle, Washington Monthly, "[ Phishing for Phools ] serves the important purpose of holding up a mirror to economics, a subject that prides itself on (supposedly) being the most sophisticated of all the social sciences. Economics may look sophisticated on paper, but it is often completely out of touch when it comes to reality." --Victoria Bateman, Times Higher Education, "Akerlof and Shiller show that unregulated free markets systematically make people worse off by providing the unscrupulous with opportunities to take advantage of the unwary." --Adam Bouyamourn, The National, "Where Akerlof and Shiller break new ground is the sweeping application of the idea of the 'phishing equilibrium' to finance. . . . The style of Phishing for Phools will be familiar to fans of Shiller's work: light on jargon and pacy enough not to outstay its welcome. The authors tell some engaging tales." ---Robin Harding, Financial Times, "Its critique of conventional economics is more powerful and comprehensive--and more paternalistic--than that of Animal Spirits ." --Carlos Lozada, Washington Post, The book offers powerful support for a skeptical view of free markets, but it's also a helpful guide for consumers to avoid getting ripped off in the course of making important purchases. ---Chris Matthews, Fortune, "The authors provide is a . . . unifying theory for all kinds of trickery, an economic explanation for why deception is so rampant. It takes many of our scattered findings about humanity's blind spots--both psychological weakness and a lack of perfect information--and weaves them into a comprehensive framework that has the potential to be devastating for free market fundamentalists." ---Victoria Finkle, Washington Monthly, "The book is easy to read and relate; and more importantly will make you start thinking of the number of times you have been phished. The list would be endless!" --Madan Sabnavis, BusinessWorld, Using compelling examples of flawed decision making from advertising, health care and personal finances, the authors identify our rational weak spots and arm readers with the ability to resist manipulation., The authors provide is a . . . unifying theory for all kinds of trickery, an economic explanation for why deception is so rampant. It takes many of our scattered findings about humanity's blind spots--both psychological weakness and a lack of perfect information--and weaves them into a comprehensive framework that has the potential to be devastating for free market fundamentalists. ---Victoria Finkle, Washington Monthly, Akerlof and Shiller present convincing evidence of how tobacco, pharmaceutical, and liquor companies and politicians weasel a chapter of their own into our life stories, abusing the mutual storytelling--with all its signs and wonders--that is elemental to our humanity. ---Peter Lewis, Barnes & Noble Review, " Phishing for Phools is packed with examples--including subprime mortgages, pharmaceuticals, political campaigns, gym memberships, credit cards, cars and cranberry juice labels--of the pervasiveness of deception and manipulation in our economy and the price it exacts on individuals and the society at large." --Glenn C. Altschuler, Tulsa World, "Bob and George urge us to slap Adam Smith's invisible hand when it steals from everybody's cookie jar. They ask us to ponder those situations, economic or political, that provide particularly tempting opportunities to phish for phools. . . . Penetrating insights rendered in accessible prose." --Marlene Lang May, Commonweal, "No question, Phishing for Phools is a radical book. It may also be a radically important one." -- Fortune, "This book was enjoyable to read, and the expertise and knowledge of the authors are abundantly evident." ---William Holcomb, PsycCRITIQUES
Dewey Edition
23
Dewey Decimal
330.01/9
Synopsis
Why the free-market system encourages so much trickery even as it creates so much good 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 therefore strikes a radically new direction in economics, based on the intuitive idea that markets both give and take away. Akerlof and Shiller bring this idea to life through dozens of stories that show how phishing affects everyone, in almost every walk of life. We spend our money up to the limit, and then worry about how to pay the next month's bills. The financial system soars, then crashes. We are attracted, more than we know, by advertising. Our political system is distorted by money. We pay too much for gym memberships, cars, houses, and credit cards. Drug companies ingeniously market pharmaceuticals that do us little good, and sometimes are downright dangerous. 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., 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 therefore strikes a radically new direction in economics, based on the intuitive idea that markets both give and take away. Akerlof and Shiller bring this idea to life through dozens of stories that show how phishing affects everyone, in almost every walk of life. We spend our money up to the limit, and then worry about how to pay the next month's bills. The financial system soars, then crashes. We are attracted, more than we know, by advertising. Our political system is distorted by money.We pay too much for gym memberships, cars, houses, and credit cards. Drug companies ingeniously market pharmaceuticals that do us little good, and sometimes are downright dangerous. 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., 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, Why the free-market system encourages so much trickery even as it creates so much good 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 therefore strikes a radically new direction in economics, based on the intuitive idea that markets both give and take away. Akerlof and Shiller bring this idea to life through dozens of stories that show how phishing affects everyone, in almost every walk of life. We spend our money up to the limit, and then worry about how to pay the next month's bills. The financial system soars, then crashes. We are attracted, more than we know, by advertising. Our political system is distorted by money. We pay too much for gym memberships, cars, houses, and credit cards. Drug companies ingeniously market pharmaceuticals that do us little good, and sometimes are downright dangerous. 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.
LC Classification Number
HB74.P8A49443 2016
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Seller Feedback (5,685,908)
- c***m (410)- Feedback left by buyer.Past 6 monthsVerified purchaseWOW!; I cannot believe this 3 Days to Hawaii! ; AAA+++; Excellent Service; Great Pricing; Fast Delivery-Faster Than Expected to Hawaii!; Shipped 05/05, Mon, Received 05/08, Thu to Hawaii using free shipping; USPS Ground Mail, Book in Excellent Condition--Better Than Described ; TLC Packaging; Excellent Seller Communication, Sends updates . Highly Recommended!, Thank you very much!
- a***r (375)- Feedback left by buyer.Past monthVerified purchasei am so happy to have every book of this series! the price of the book & the shipping is very reasonable! the book was as described & was in excellent condition! it was shipped quickly & arrived quickly! the books are always packaged carefully so they arrived undamaged! the communication from the sellers is always excellent--they go out of their way for excellent customer service! i have been a repeat customer from this seller & always will be! this seller is the best bookseller on ebay!
- l***b (331)- Feedback left by buyer.Past monthVerified purchase5 STARS on ALL aspects... ITEM AS DESCRIBED - 5 STARS... PACKAGING & SHIPPING - 5 STARS... VALUE OF ITEM RECEIVED - 5 STARS... COMMUNICATION - 5 STARS. Would highly recommend this seller to all Ebay buyers without any reservations. Thanks again for your business with BB812, and we do appreciate your care and consideration of our offer. HAPPY EBAY LIFE !!!