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Joosr

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

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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.
This book is currently unavailable
19 printed pages
Publication year
2016

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  • Nastyashared an impression8 years ago
    👍Worth reading

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    • Nastyahas quoted8 years ago
      Not all companies deceive us because they are selfish and immoral: they may be forced into it in order to compete with other businesses that are already making large profits by manipulating us.
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      • Nastyahas quoted8 years ago
        year after year people bought new cars that they didn’t actually need, just because the slight improvements and clever marketing made the new model seem fresh and exciting.
        General Motors’ innovation has now become the standard business model across many industries, and changed the relationship between the consumer and the market. Previously, what the consumer needed dictated what the market produced, but with this model clever marketing convinced the consumer that they desired whatever new product the market created, even if they owned another version that was still perfectly functional.
        Nowadays, we see this all the time: our phones need to be updated; our clothes are no longer in fashion;
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        • Nastyahas quoted8 years ago
          No matter how many products we buy, it often seems that we never have enough things, or the latest models. One of the key reasons for this is that the free market constantly creates new desires, reminding us that what we own is outmoded and obsolete and encouraging us to buy new things to feed new “needs.”
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