A Joosr Guide to… Phishing for Phools by George Akerlof and Robert Shiller

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Although it's often thought of as benevolent, free market economics is a system where con-artists and deceivers thrive. Its lack of regulation means that there are always opportunities for businesses to manipulate and exploit us for their own benefit.

Phishing for Phools digs into the dark underbelly of the free market, examining the numerous ways consumers are taken for a ride by companies and suppliers. In doing so, it sheds light on the psychological weaknesses and behavioral traits that make us susceptible to manipulation, explaining both the methods businesses employ in order to profit from our vulnerability and the aspects of free market economics that allow it to happen.

You will learn:

· The reason why many companies are actually forced to deceive us

· How advertising convinces us to buy certain products

· Why our irrational decision making processes leave us vulnerable to manipulation.