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    A Joosr Guide to... Phishing for Phools by George Akerlof and Robert Shiller: The Economics of Manipulation and Deception
    A Joosr Guide to... Phishing for Phools by George Akerlof and Robert Shiller: The Economics of Manipulation and Deception
    A Joosr Guide to... Phishing for Phools by George Akerlof and Robert Shiller: The Economics of Manipulation and Deception
    Ebook26 pages15 minutes

    A Joosr Guide to... Phishing for Phools by George Akerlof and Robert Shiller: The Economics of Manipulation and Deception

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    About this ebook

    In today's fast-paced world, it's tough to find the time to read. But with Joosr guides, you can get the key insights from bestselling non-fiction titles in less than 20 minutes. Whether you want to gain knowledge on the go or find the books you'll love, Joosr's brief and accessible eBook summaries fit into your life. Find out more at joosr.com.

    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.

    LanguageEnglish
    PublisherJoosr
    Release dateJun 20, 2016
    ISBN9781785673528
    A Joosr Guide to... Phishing for Phools by George Akerlof and Robert Shiller: The Economics of Manipulation and Deception

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      Book preview

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

      takeaways

      What’s it about?

      Supporters of free market economics say it’s a force for good: a benevolent system that leads to greater wealth and satisfaction for everyone involved. But is this really the case? If the free market is so beneficial, then why do many of us, and the most vulnerable amongst us in particular, fall prey to the scams and shams of disreputable sellers and dodgy businesses?

      In Phishing for Phools, George Akerlof and Robert Shiller argue that, despite the benefits it brings, free market capitalism is also, by its very nature, filled with opportunities for dishonesty, manipulation, and morally dubious business practices. In fact, the very lack of regulation that defenders of the free market celebrate can also leave consumers unable to avoid the many tricks and temptations the market produces, and a lot of people have lost large sums of money as a result.

      Akerlof and Shiller explore the system in detail, discussing the consumer behavior that leaves us vulnerable to exploitation, the ways businesses prey on our weaknesses, and the structural aspects of free market economics that not only allow this to happen but arguably guarantee it—after all, if there’s an opportunity to turn a profit, then someone will always take it, no matter how

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