Volkswagen is in the news. Some eleven-million of its diesel vehicles worldwide are equipped with software that deliberately deceives regulators on harmful gas emission tests. The giant car company now faces expensive repair of the cars and hefty penalties for the scam. On top of that, the Volkswagen shares are falling precipitously. But the only reason why this scandal is of any interest to me at this juncture is that Volkswagen is hardly alone in systematic cheating of everyone under the sun. This is how businesses operate across the globe. Happily, George Akerlof and Robert Shiller, both Nobel laureates in economics, have just come up with a book on this very topic. Entitled Phishing for Phools: The Economics of Manipulation and Deception (Princeton, New Jersey: Princeton University Press, 2015), it examines deliberate deception in all sorts of markets. The key to their book is that the phenomenon is comprehensive and universal. The Volkswagen scandal is thus a godsend for their book. At long last, the customary bullshit that goes into the teaching of economics around the world will be challenged by economists of renown. Manipulation and deception are at the very core of economizing. Congratulations all around!