Chapter 5

At the beginning of the course we discussed that it is crucial for average humans to study economics to know when people are lying to you. In this chapter this concept is expanded on by introducing the importance of information. The example the book provided was insurance companies not only charging more for particular peoples insurance, but not offering insurance to those they discriminate against. This dishonesty is important to notice, because naturally many companies will follow similarly. The book emphasized obtaining information, and being reluctant to provide it. It was interesting yet frightening to read about the effect one hair follicle could have.