On Monday, March 21, the Mortara Center hosted Professor George Akerlof for a book talk on his most recent publication, Phishing for Phools: The Economics of Manipulation and Deception. Professor Akerlof is a 2001 Nobel Laureate and a University Professor in the McCourt School. In Phishing for Phools, Akerlof and co-author Robert Shiller propose that free markets can be both beneficial and harmful. In his book talk, Professor Akerlof described how some free-market decisions lead to consequences he and Shiller call “NOBODY-COULD-POSSIBLY-WANTS,” which include personal financial insecurity, financial and macroeconomic instability, ill health, and bad government. He then entertained the audience by singing a rendition of “How much is that doggie in the window?”
Mortara thanks the McCourt School of Public Policy and the Department of Economics for co-sponsoring the event.