Social Interactions, Identity & Well Being
Phishing for Phools: A presentation by George Akerlof
CIFAR Senior Fellow and Program Co-Director George Akerlof (University of California at Berkeley) draws from a draft of his book Phishing for Phools, which he wrote with Robert Shiller (Yale University), to show how free markets are a powerful force for both good and bad.
On the negative side, they systematically aim for our weak spots. They manipulate our emotional or cognitive weaknesses, attempt to block information and exploit our failure to understand that we don't know what we don't know. The talk shows how these insights play out in consumer protection, personal saving and understanding the origins of the financial crisis.
A presentation George Akerlof at the Building Better Lives & Communities symposium on Sept. 19, 2013.