Phishing for Phools: The Economics of Manipulation and Deception

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Jim Strasma Disagree. The basic idea behind a free market is voluntary trades in which both parties benefit - a win:win. Manipulation and deception are indeed a p…moreDisagree. The basic idea behind a free market is voluntary trades in which both parties benefit - a win:win. Manipulation and deception are indeed a problem in every economic system due to fallible human nature, but more a corruption of them than a feature. Business runs on trust, and when one party is untrustworthy, no contract is sufficient to compel them to behave in a trustworthy manner.(less)

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