George A. Akerlof: Phishing for Phools: The Economics of Manipulation and Deception

George A. Akerlof presented his book, Phishing for Phools: The Economics of Manipulation and Deception, coauthored with Robert J. Schiller, at a release event held at the Peterson Institute for International Economics on September 21, 2015. The book challenges the conventional notions of free markets and the “invisible hand” theory. The authors argue that markets can be harmful in that they prey on the psychological weaknesses and ignorance of consumers. Morris Goldstein, nonresident senior fellow, chaired the event. For more information, visit: piie.com/events...