U.S. SUFFERS FROM FALSE AND SKEWED CLAIMS

“With respect to Social Security reform, securities regulation, and campaign finance reform, the United States has suffered from false and skewed claims that fail to account fore the fact that free markets make people free not only to choose but also free ‘to phish [cq], and free to be phished [cq]. Ignorance of those truths is a recipe for disaster.’”

Sunstein, Cass R, ‘Why Free Markets Make Fools of Us,’ in The New York Review, October 22, 2015, pp: 40-42, a review of Phishing forPhools: The Economics of Manipulation and Deception, by George A. Akerlof and Robert J. Shiller, Princeton University Press, 2015.

[In their book, Akerlof and Shiller use unusual spellings for “fish” and “fished.”]