Ever since Adam Smith, the central teaching of economics has been that free markets provide us with material well-being, as if by an invisible hand. In Phishing for Phools, Nobel Prize–winning economists George Akerlof and Robert Shiller deliver a fundamental challenge to this insight, arguing that markets harm as well as help us.
Two of the world’s great economists, George Akerlof and Robert Shiller, have written a new book that brings some radical new thinking to the orthodox attitudes to the market. And who better to explain the book and its concepts than one of the Nobel-winning authors, Robert Shiller, in a video accessible at the link below: