George Akerlof Knihy

The global financial crisis has made it clear that powerful psychological forces are imperiling the wealth of nations. This title challenges the economic wisdom that got us into this mess, and puts forward a vision that transforms economics and restores prosperity. It asserts the necessity of an active government role in economic policymaking.

Akerlof and Shiller argue 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. Based on the intuitive idea that markets both give and take away, they 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. In doing so they explain 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.

Provides an important way to understand human behavior, revealing how our identities - and not just economic incentives - influence our decisions. This title explains how our conception of who we are and who we want to be may shape our economic lives more than any other factor, affecting how hard we work, and how we learn, spend, and save.

Since Adam Smith, the prevailing belief in economics has been that free markets enhance our material well-being through an "invisible hand." However, Nobel Prize-winning economists George Akerlof and Robert Shiller challenge this notion in a compelling way, arguing that markets can also be harmful. They assert that sellers will exploit our psychological weaknesses and ignorance for profit, manipulating and deceiving us. Instead of being purely beneficial, markets are filled with tricks and traps that "phish" us as "phools." This work introduces a new perspective in economics, emphasizing that markets both provide and take away. Through numerous stories, Akerlof and Shiller illustrate how phishing impacts nearly every aspect of life. We often overspend and then struggle to meet our financial obligations. The financial system experiences cycles of boom and bust, and we find ourselves swayed by advertising. Money distorts our political landscape, and we frequently overpay for gym memberships, cars, homes, and credit cards. Pharmaceutical companies market drugs that may offer little benefit or even pose risks. The authors delve into the pervasive nature of manipulation and deception across these domains, explaining a paradox: despite unprecedented levels of material comfort, many lead lives of quiet desperation. The book also highlights individuals who resist economic trickery and suggests that increased knowledge, reform, and re

This work bridges a critical gap in the social sciences. It brings identity and norms to economics. People's notions of what is proper, and what is forbidden, and for whom, are fundamental to how hard they work, and how they learn, spend, and save.

Seit Adam Smith ist eine der zentralen Thesen der Wirtschaftswissenschaften, dass freie Märkte und freier Wettbewerb die besten Voraussetzungen für allgemeinen Wohlstand sind. Die Wirtschaftsnobelpreisträger George Akerlof und Robert Shiller argumentieren dagegen, dass Märkte nicht von sich aus gutartig sind und sich auch nicht immer die besten Produkte durchsetzen. Die Autoren behandeln in diesem Buch erstmals die zentrale Rolle von Manipulation und Täuschung in der Wirtschaft. Anhand von zahlreichen Fallbeispielen zeigen sie, wie wir verleitet werden, mehr Geld auszugeben, als wir haben; wie wir von Werbung stärker beeinflusst werden, als wir glauben; warum wir oft zu viel bezahlen und wie massiv die Politik durch Wirtschaft beeinflusst wird.