How We Misunderstand Economics And Why It Matters

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How We Misunderstand Economics and Why it Matters

Author : David Leiser
Publisher : Routledge
ISBN 13 : 1317381882
Total Pages : 166 pages
Book Rating : 4.3/5 (173 download)

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Book Synopsis How We Misunderstand Economics and Why it Matters by : David Leiser

Download or read book How We Misunderstand Economics and Why it Matters written by David Leiser and published by Routledge. This book was released on 2018-05-21 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to explain why people misunderstand economics. From the cognitive shortcuts we use to make sense of complex information, to the metaphors we rely on and their effect on our thinking, this important book lays bare not only the psychological traits that distort our ability to understand such a vital topic, but also what this means for policy makers and civil society more widely. Accessibly written, the book explores the mismatch between the complexities of economics and the constraints of human cognition that lie at the root of our misconceptions. The authors document and explain the gamut of cognitive strategies laypeople employ as they grapple with such complex topics as inflation, unemployment, economic crises, finance, and money in the modern economy. The book examines sources of misconceptions ranging from the intentionality fallacy, whereby economic phenomena are assumed to have been caused deliberately rather than to have come about by an interplay of many agents and causal factors, to the role of ideology in framing economic thinking. Exposing the underlying biases and assumptions that undermine financial and economic literacy, and concluding with recommendations for how policies and ideas should be framed to enable a clearer understanding, this will be essential reading not only for students and researchers across psychology and economics, but also anyone interested in progressive public policy. Visit the associated website for the book here: http://www.misunderstandeconomics.com/

Misunderstanding Financial Crises

Author : Gary B. Gorton
Publisher : Oxford University Press
ISBN 13 : 0199986886
Total Pages : 296 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis Misunderstanding Financial Crises by : Gary B. Gorton

Download or read book Misunderstanding Financial Crises written by Gary B. Gorton and published by Oxford University Press. This book was released on 2012-11-02 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Before 2007, economists thought that financial crises would never happen again in the United States, that such upheavals were a thing of the past. Gary B. Gorton, a prominent expert on financial crises, argues that economists fundamentally misunderstand what they are, why they occur, and why there were none in the U.S. from 1934 to 2007. Misunderstanding Financial Crises offers a back-to-basics overview of financial crises, and shows that they are not rare, idiosyncratic events caused by a perfect storm of unconnected factors. Instead, Gorton shows how financial crises are, indeed, inherent to our financial system. Economists, Gorton writes, looked from a certain point of view and missed everything that was important: the evolution of capital markets and the banking system, the existence of new financial instruments, and the size of certain money markets like the sale and repurchase market. Comparing the so-called "Quiet Period" of 1934 to 2007, when there were no systemic crises, to the "Panic of 2007-2008," Gorton ties together key issues like bank debt and liquidity, credit booms and manias, moral hazard, and too-big-too-fail--all to illustrate the true causes of financial collapse. He argues that the successful regulation that prevented crises since 1934 did not adequately keep pace with innovation in the financial sector, due in part to the misunderstandings of economists, who assured regulators that all was well. Gorton also looks forward to offer both a better way for economists to think about markets and a description of the regulation necessary to address the future threat of financial disaster.

Cogs and Monsters

Author : Diane Coyle
Publisher : Princeton University Press
ISBN 13 : 0691231044
Total Pages : 272 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Cogs and Monsters by : Diane Coyle

Download or read book Cogs and Monsters written by Diane Coyle and published by Princeton University Press. This book was released on 2023-04-11 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: How economics needs to change to keep pace with the twenty-first century and the digital economy Digital technology, big data, big tech, machine learning, and AI are revolutionizing both the tools of economics and the phenomena it seeks to measure, understand, and shape. In Cogs and Monsters, Diane Coyle explores the enormous problems—but also opportunities—facing economics today and examines what it must do to help policymakers solve the world’s crises, from pandemic recovery and inequality to slow growth and the climate emergency. Mainstream economics, Coyle says, still assumes people are “cogs”—self-interested, calculating, independent agents interacting in defined contexts. But the digital economy is much more characterized by “monsters”—untethered, snowballing, and socially influenced unknowns. What is worse, by treating people as cogs, economics is creating its own monsters, leaving itself without the tools to understand the new problems it faces. In response, Coyle asks whether economic individualism is still valid in the digital economy, whether we need to measure growth and progress in new ways, and whether economics can ever be objective, since it influences what it analyzes. Just as important, the discipline needs to correct its striking lack of diversity and inclusion if it is to be able to offer new solutions to new problems. Filled with original insights, Cogs and Monsters offers a road map for how economics can adapt to the rewiring of society, including by digital technologies, and realize its potential to play a hugely positive role in the twenty-first century.

Making Economics Public

Author : Vicki Macknight
Publisher : Taylor & Francis
ISBN 13 : 1000874362
Total Pages : 142 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis Making Economics Public by : Vicki Macknight

Download or read book Making Economics Public written by Vicki Macknight and published by Taylor & Francis. This book was released on 2023-05-22 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics – macro, micro and mysterious – is integral to everyday life. But despite its importance for personal and collective decision making, it is a discipline often viewed as technical, arcane and inaccessible and thus overlooked in public discourse. This book is a call to arms to bring the discipline of economics more into the public domain. It calls on economists to think about how to make their knowledge of the economics public. And it calls on those who specialise in communicating expert knowledge to help us learn to communicate about economics. The book brings together scholars and practitioners working at the early stages of an emerging field: the public communication of, and public engagement with, economics. Through a series of short essays from academics and practitioners, the book has two key goals: first and foremost, it will make a case for why we need to make economics public and for the importance of having a clear vision of what it means to make economics public. Secondly, it suggests some ways that this can be done featuring contributions from practitioners, including economists, who are engaging audiences in newspapers, museums and beyond. This book is essential reading for those in economics with an interest in making economics public and those already in the many fields dedicated to communicating expert knowledge in public spaces who have an interest in where economics can fit. More information about the book can be found here: https://www.makingeconomicspublic.org/

The Misunderstood Economy

Author : Robert Eisner
Publisher : Harvard Business Review Press
ISBN 13 :
Total Pages : 250 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Misunderstood Economy by : Robert Eisner

Download or read book The Misunderstood Economy written by Robert Eisner and published by Harvard Business Review Press. This book was released on 1994 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: In clear, easy-to-understand language, The Misunderstood Economy explains how economic and social progress is and should be measured, confronting widespread misconceptions about debt and deficit, government spending and taxes, unemployment and inflation, foreign investment, and foreign trade.

Reclaiming economics for future generations

Author : Lucy Ambler
Publisher : Manchester University Press
ISBN 13 : 1526159856
Total Pages : 240 pages
Book Rating : 4.5/5 (261 download)

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Book Synopsis Reclaiming economics for future generations by : Lucy Ambler

Download or read book Reclaiming economics for future generations written by Lucy Ambler and published by Manchester University Press. This book was released on 2022-01-25 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s economies fail to recognise that we are in a rapidly worsening crisis, reproducing and often worsening vast and harmful inequalities between people and countries. The current models are unsustainable, and at a time when global temperatures are rising and divides are deepening, humanity is left in a rapidly worsening situation of its own making, the destruction of the living world, which will make large parts of the earth uninhabitable. Without access to the knowledge, skills or tools to build a better future, local, national and global economies will continue to fail to address the interlinked challenges of systemic racism, inequalities faced by women, the Covid-19 pandemic and the nature and climate emergency. Across the world, economics students are coming together under the banner of the student movement, Rethinking Economics, to create a better economics – one which can help to create a world where all our children can flourish regardless of their gender, background or birthplace. Drawing on over sixty interviews with students and professionals from identities and backgrounds marginalised in economics and a wide range of global and historical research, this book illustrates the ways in which the discipline is currently not fit for purpose and sets out a vision for how it can be diversified, decolonised and democratised. The struggle to reclaim economics could not be more crucial - our futures depend on it. This book explains how it can be done.

Financial Education and Risk Literacy

Author : Riccardo Viale
Publisher : Edward Elgar Publishing
ISBN 13 : 178990885X
Total Pages : 328 pages
Book Rating : 4.7/5 (899 download)

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Book Synopsis Financial Education and Risk Literacy by : Riccardo Viale

Download or read book Financial Education and Risk Literacy written by Riccardo Viale and published by Edward Elgar Publishing. This book was released on 2021-01-29 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative book explores how the design of financial education programmes could benefit from the findings of behavioural economics and finance and cognitive sciences. It covers the social, cultural and technological determinants of financial education, the role of the banking system in promoting financial literacy, and how governments and regulatory authorities are dealing with financial education and risk literacy programmes in schools.

A Research Agenda for Economic Psychology

Author : Katharina Gangl
Publisher : Edward Elgar Publishing
ISBN 13 : 1788116062
Total Pages : 232 pages
Book Rating : 4.7/5 (881 download)

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Book Synopsis A Research Agenda for Economic Psychology by : Katharina Gangl

Download or read book A Research Agenda for Economic Psychology written by Katharina Gangl and published by Edward Elgar Publishing. This book was released on 2019 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents state of the art reviews on classical and novel research fields in economic psychology. Internationally acknowledged experts and the next generation of younger researchers summarize the knowledge in their fields and outline promising avenues of future research. Chapters include fundamental as well as applied research topics such as the psychology of money, experience-based product design and the enhancement of financial capabilities. The book is targeted particularly towards researchers and advanced students looking to update their knowledge and refresh their thinking on future research developments.

Birth of Modern Facts

Author : James W. Cortada
Publisher : Rowman & Littlefield
ISBN 13 : 1538173913
Total Pages : 462 pages
Book Rating : 4.5/5 (381 download)

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Book Synopsis Birth of Modern Facts by : James W. Cortada

Download or read book Birth of Modern Facts written by James W. Cortada and published by Rowman & Littlefield. This book was released on 2023-01-09 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt: For over twenty years, James W. Cortada has pioneered research into how information shapes society. In this book he tells the story of how information evolved since the mid-nineteenth century. Cortada argues that information increased in quantity, became more specialized by discipline (e.g., mathematics, science, political science), and more organized. Information increased in volume due to a series of innovations, such as the electrification of communications and the development of computers, but also due to the organization of facts and knowledge by discipline, making it easier to manage and access. He looks at what major disciplines have done to shape the nature of modern information, devoting chapters to the most obvious ones. Cortada argues that understanding how some features of information evolved is useful for those who work in subjects that deal with their very construct and application, such as computer scientists and those exploring social media and, most recently, history. The Birth of Modern Facts builds on Cortada’s prior books examining how information became a central feature of modern society, most notably as a sequel to All the Facts: A History of Information in the United States since 1870 (OUP, 2016) and Building Blocks of Society: History, Information Ecosystems, and Infrastructures (R&L, 2021).

Handbook of Research Methods in Behavioural Economics

Author : Morris Altman
Publisher : Edward Elgar Publishing
ISBN 13 : 1839107944
Total Pages : 533 pages
Book Rating : 4.8/5 (391 download)

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Book Synopsis Handbook of Research Methods in Behavioural Economics by : Morris Altman

Download or read book Handbook of Research Methods in Behavioural Economics written by Morris Altman and published by Edward Elgar Publishing. This book was released on 2023-03-02 with total page 533 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook addresses a wide variety of methodological approaches adopted and developed by behavioural economists, exploring the implications of such innovations for analysis and policy.

Foundations of Economic Psychology

Author : Kazuhisa Takemura
Publisher : Springer
ISBN 13 : 9811390495
Total Pages : 288 pages
Book Rating : 4.8/5 (113 download)

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Book Synopsis Foundations of Economic Psychology by : Kazuhisa Takemura

Download or read book Foundations of Economic Psychology written by Kazuhisa Takemura and published by Springer. This book was released on 2019-07-26 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of the concept of economic psychology from behavioral and mathematical perspectives and related theoretical and empirical findings. Economic psychology is defined briefly as a general term for descriptive theories to explain the psychological processes of microeconomic behaviors and macroeconomic phenomena. However, the psychological methodology and knowledge of economic psychology have also been applied widely in such fields as economics, business administration, and engineering, and they are expected to become increasingly useful in the future—a trend suggested in several eminent scholars’ studies. The book explains the numerous behavioral and mathematical models of economic psychology related to micro- and macroeconomic phenomena that have been proposed in the past, and introduces new models that are useful to explain human economic behaviors. It concludes with speculations about the future of modern economic psychology, referring to its connection with fields related to neuroscience, such as neuroeconomics, which have been developed in recent years. Readers require no advanced expertise; nonetheless, an introductory understanding of psychology, business administration, and economics, and a high- school-graduate level of mathematics are useful. To aid readers, each chapter includes a bibliography, which can be referred for more details related to economic psychology.

Psychological Perspectives on Financial Decision Making

Author : Tomasz Zaleskiewicz
Publisher : Springer Nature
ISBN 13 : 3030455009
Total Pages : 367 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Psychological Perspectives on Financial Decision Making by : Tomasz Zaleskiewicz

Download or read book Psychological Perspectives on Financial Decision Making written by Tomasz Zaleskiewicz and published by Springer Nature. This book was released on 2020-07-21 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reviews the latest research from psychology, neuroscience, and behavioral economics evaluating how people make financial choices in real-life circumstances. The volume is divided into three sections investigating financial decision making at the level of the brain, the level of an individual decision maker, and the level of the society, concluding with a discussion of the implications for further research. Among the topics discussed: Neural and hormonal bases of financial decision making Personality, cognitive abilities, emotions, and financial decisions Aging and financial decision making Coping methods for making financial choices under uncertainty Stock market crashes and market bubbles Psychological perspectives on borrowing, paying taxes, gambling, and charitable giving Psychological Perspectives on Financial Decision Making is a useful reference for researchers both in and outside of psychology, including decision-making experts, consumer psychologists, and behavioral economists.

Conjunctive Explanations

Author : Jonah N. Schupbach
Publisher : Taylor & Francis
ISBN 13 : 1000884074
Total Pages : 286 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis Conjunctive Explanations by : Jonah N. Schupbach

Download or read book Conjunctive Explanations written by Jonah N. Schupbach and published by Taylor & Francis. This book was released on 2023-05-12 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Philosophers and psychologists are increasingly investigating the conditions under which multiple explanations are better in conjunction than they are individually. This book brings together leading scholars to provide an interdisciplinary and unified discussion of such “conjunctive explanations.” The book starts with an introductory chapter expounding the notion of conjunctive explanation and motivating a multifaceted approach to its study. The remaining chapters are divided into three parts. Part I includes chapters on “The Nature of Conjunctive Explanations.” Each chapter illustrates distinct ways in which explanatory multiplicity is motivated by a careful study of the nature and concept of explanation. The second part (“Reasoning About Conjunctive Explanations”) includes chapters on the epistemology and logic of conjunctive explanations. Here the contributors propose and evaluate various norms for reasoning correctly about and to conjunctive explanations. Part III concerns “The Psychology of Conjunctive Explanations,” with contributions discussing conditions under which humans entertain and hold multiple explanations of single explananda simultaneously and the cognitive limitations and capacities for doing so. Conjunctive Explanations will be of interest to researchers and advanced students working on explanation in philosophy of science, epistemology, philosophical logic, and cognitive psychology.

Human Behaviour in Pandemics

Author : Malgorzata Kossowska
Publisher : Routledge
ISBN 13 : 1000568709
Total Pages : 253 pages
Book Rating : 4.0/5 (5 download)

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Book Synopsis Human Behaviour in Pandemics by : Malgorzata Kossowska

Download or read book Human Behaviour in Pandemics written by Malgorzata Kossowska and published by Routledge. This book was released on 2022-04-06 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely interdisciplinary book brings together a wide spectrum of theoretical concepts and their empirical applications in relation to the COVID-19 pandemic, informing our understanding of the social and psychological bases of a global crisis. Written by an author team of psychologists and sociologists, the volume provides comprehensive coverage of phenomena such as fear, risk, judgement and decision making, threat and uncertainty, group identity and cohesion, social and institutional trust, and communication in the context of an international health emergency.The topics have been grouped into four main chapters, focusing on the individual, group, social, and communication perspectives of the issues affecting or being affected by the pandemic, based on over 740 classic and current references of peer-reviewed research and contextualized with an epidemiological perspective discussed in the introduction. The volume finishes with two special sections, with a chapter on cultural specificity of the social impact of pandemics, focusing specifically on both Islam and Hinduism, and a chapter on the cross-national differences in policy responses to the current health crisis. Providing not just a reference for academic research, but also short-term and long-term policy solutions based on successful strategies to combat adverse social, cognitive, and emotional consequences, this is the ideal resource for academics and policymakers interested in social and psychological determinants of individual reactions to pandemics, as well as in fields such as economics, management, politics, and medical care.

Sustainable Development of Denmark in the World, 1970–2020

Author : Bo Fritzbøger
Publisher : Springer Nature
ISBN 13 : 3030982939
Total Pages : 415 pages
Book Rating : 4.0/5 (39 download)

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Book Synopsis Sustainable Development of Denmark in the World, 1970–2020 by : Bo Fritzbøger

Download or read book Sustainable Development of Denmark in the World, 1970–2020 written by Bo Fritzbøger and published by Springer Nature. This book was released on 2022-05-24 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a holistic overview of the history of sustainable development in Denmark over the last fifty years, covering a host of issues central to the Sustainable Development Goals (SDGs): ending poverty; ensuring inclusive and equitable education; reducing inequality; making cities and settlements inclusive, safe and resilient; and fostering responsible production and consumption patterns, to name a few. It argues for a new framework of sustainability history, one that is truly global in outlook. As such, it explores what truly global sustainable development would look like. It considers how economic growth has been the driver for prosperity in the global north, and considers whether sustainable development and continued economic growth are irreconcilable, and what the future of sustainable development initiatives in Denmark might look like.

The Economics of the Mishnah

Author : Jacob Neusner
Publisher : University of Chicago Press
ISBN 13 : 9780226576565
Total Pages : 204 pages
Book Rating : 4.5/5 (765 download)

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Book Synopsis The Economics of the Mishnah by : Jacob Neusner

Download or read book The Economics of the Mishnah written by Jacob Neusner and published by University of Chicago Press. This book was released on 1990-01-23 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this compelling study, Jacob Neusner argues that economics is an active and generative ingredient of the system of the Mishnah. The Mishnah directly addresses such economic concerns as the value of work, agronomics, currency, commerce and the marketplace, and correct management of labor and of the household. In all its breadth, the Mishnah poses the question of the critical place occupied by the economy in society under God's rule. The Economics of the Mishnah is the first book to examine the place of economic theory generally in the Judaic system of the Mishnah. Jacob Neusner begins by surveying previous work on economics and Judaism, the best known being Werner Sombart's The Jews and Modern Capitalism. The mistaken notion that Jews have had a common economic history has outlived the demise of Sombart's argument, and it is a notion that Neusner overturns before discussing the Mishnaic economics. Only in Aristotle, Neusner argues, do we find an equal to the Mishnah's accomplishment in engaging economics in the service of a larger systemic statement. Neusner shows that the framers of the Mishnah imagined a distributive economy functioning through the Temple and priesthood, while also legislating for the action of markets. The economics of the Mishnah, then, is to some extent a mixed economy. The dominant, distributive element in this mixed economy, Neusner contends, derives from the belief that the Temple and its designated castes on earth exercise God's claim to the ownership of the holy land. He concludes by considering the implications of the derivation of the Mishnah's economics from the interests of the undercapitalized and overextended farmer.

Climate of the Middle

Author : Arjen Siegmann
Publisher : Springer Nature
ISBN 13 : 3030853225
Total Pages : 71 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis Climate of the Middle by : Arjen Siegmann

Download or read book Climate of the Middle written by Arjen Siegmann and published by Springer Nature. This book was released on 2022-01-04 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Open Access book presents a multidisciplinary perspective to increase our understanding of climate policies that are rooted in the natural moral inclinations of people, families and firms. Which policies prevent a widening gap between higher and lower educated people? Which policy instruments are there, and how could they be used? What is the role of free entrepreneurship? In this book, academics from different fields have brought together their knowledge and expertise to reflect on the following three questions: How are the polarised positions on climate change of different groups related to their moral outlook, world view, tradition, cultural norms and values? What is a good distribution of responsibilities between firms, households and the government relating to climate change? What are possible avenues where the climate policies are a natural extension of moral inclinations of families and firms, such as the stewardship for the natural environment and the climate? This book will be of interest to policy and decision-makers, students of social and behavioural sciences, and those interested climate change policies and how this effects our lives