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International - Phishing for Phools: The Economics of Manipulation and Deception

Description

Book Synopsis: Why the free-market system encourages so much trickery even as it creates so much goodEver 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.

Details

Are you tired of falling victim to the tricks and traps of the market? Look no further than "Phishing for Phools: The Economics of Manipulation and Deception." This groundbreaking book challenges the long-held belief that free markets always create the greater good. Nobel Prize–winning economists George Akerlof and Robert Shiller argue that markets not only help us but also harm us, as sellers exploit our psychological weaknesses and ignorance to their advantage.

Phishing for Phools takes you on a journey through the pervasive presence of manipulation and deception in our everyday lives. From our financial system's unpredictable highs and devastating crashes to the clever tactics advertisers use to lure us in, the authors expose the hidden costs we often pay. Imagine paying more than necessary for gym memberships, cars, houses, and credit cards – it's time to put an end to being a "phool." This eye-opening book will make you question the very essence of our economic system.

Through compelling stories and real-life examples, Akerlof and Shiller reveal how manipulation and deception permeate various aspects of our lives. They shed light on the distorted influence of money on our political system and the ingenious marketing strategies employed by drug companies. By exploring these areas and more, Phishing for Phools not only explains why many of us experience a sense of desperation despite our increasing wealth but also provides insight into how we can combat economic trickery.

Take control of your financial well-being and gain a deeper understanding of the hidden forces at play in our markets. Empower yourself by learning how to navigate the world of manipulation and deception through greater knowledge, reform, and regulation. Don't miss out on the opportunity to transform your perspective and protect yourself from falling prey to market tricks. Get your copy of "Phishing for Phools: The Economics of Manipulation and Deception" today!

Click here to purchase "Phishing for Phools: The Economics of Manipulation and Deception" and unlock the secrets to an informed and resilient consumer.

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