The Economics of Manipulation and Deception


[F]ree markets do not just deliver this cornucopia that people want. They also create an economic equilibrium that is highly suitable for economic enterprises that manipulate or distort our judgment, using business practices that are analogous to biological cancers that make their home in the normal equilibrium of the human body. (Akerlof and Shiller 2015, x, Phishing for Phools [The Economics of Manipulation and Deception]. New Jersey: Princeton University Press)

Theories (economic, managerial, etc.) sometimes do not reflect on the ground reality. After personally encountering a global supply chain built upon manipulation and deception, then using technology (digital forensics) to disarticulate the supply chain, Phishing for Phools was the first book in the field of economics that I read which shed light upon the global valueless chain that I disarticulated. An important work that sheds light on the many shennegins used by less than ethical businesses.