Schotanus Patrick
Schotanus Patrick - The Market Mind Hypothesis Understanding Markets And Minds Through Cognitive Economics - Paperback
Schotanus Patrick - The Market Mind Hypothesis Understanding Markets And Minds Through Cognitive Economics - Paperback
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Description: What is economics missing link? Recent economic crises have had a devastating impact on society. Worryingly they gravely risked a collapse of the financial system. These crises also painfully revealed economics blind spots. Crucially economics is not an innocent bystander but central to the problem. In this pioneering book Patrick Schotanus explains that economics mechanical worldview is the ontological error which leads to flawed thinking and faulty practices. The Market Mind Hypothesis (MMH) thus calls it "mechanical economics": it not only erroneously views but also dangerously treats the economy as a machine the market as an automaton and its agents as robots. Inspired by heterodox economic and leading cognitive thinkers this book offers an alternative paradigm. Central to MMH's psychophysical worldview is the fact that consumers investors and other participants are conscious beings and that their minds extension makes consciousness a reality in markets exemplified by market mood. Specifically denial of the complex mind~matter exchanges as the essence of markets means the extended mind~body problem is economics elephant in the room. The book argues that if mechanical economics is the answer we have been asking the wrong questions. Moreover we will not solve our economic predicaments by doubling down on the assumption of rationality nor by identifying yet another behavioural bias. Instead scholars and students of economics and finance as well as finance practitioners need to investigate through cognitive economics the deep links between markets and minds to better understand both. With a foreword by investment strategist Russell Napier an intermezzo by neuroscientist and complexity pioneer Scott Kelso and an afterword by 4 E cognition philosopher Julian Kiverstein.
Title: The Market Mind Hypothesis Understanding Markets And Minds Through Cognitive Economics
Author(s): Schotanus Patrick
Publisher: De Gruyter
Barcode: 9783111211619
Pages: 493 Pages, 11 Tables, Black And White; 11 Illustrations, Black And White; 7 Illustrations, Color
Publication Date: 10/4/2023
Category: Economics, Finance, Business & Management
Description: What is economics missing link? Recent economic crises have had a devastating impact on society. Worryingly they gravely risked a collapse of the financial system. These crises also painfully revealed economics blind spots. Crucially economics is not an innocent bystander but central to the problem. In this pioneering book Patrick Schotanus explains that economics mechanical worldview is the ontological error which leads to flawed thinking and faulty practices. The Market Mind Hypothesis (MMH) thus calls it "mechanical economics": it not only erroneously views but also dangerously treats the economy as a machine the market as an automaton and its agents as robots. Inspired by heterodox economic and leading cognitive thinkers this book offers an alternative paradigm. Central to MMH's psychophysical worldview is the fact that consumers investors and other participants are conscious beings and that their minds extension makes consciousness a reality in markets exemplified by market mood. Specifically denial of the complex mind~matter exchanges as the essence of markets means the extended mind~body problem is economics elephant in the room. The book argues that if mechanical economics is the answer we have been asking the wrong questions. Moreover we will not solve our economic predicaments by doubling down on the assumption of rationality nor by identifying yet another behavioural bias. Instead scholars and students of economics and finance as well as finance practitioners need to investigate through cognitive economics the deep links between markets and minds to better understand both. With a foreword by investment strategist Russell Napier an intermezzo by neuroscientist and complexity pioneer Scott Kelso and an afterword by 4 E cognition philosopher Julian Kiverstein.
Title: The Market Mind Hypothesis Understanding Markets And Minds Through Cognitive Economics
Author(s): Schotanus Patrick
Publisher: De Gruyter
Barcode: 9783111211619
Pages: 493 Pages, 11 Tables, Black And White; 11 Illustrations, Black And White; 7 Illustrations, Color
Publication Date: 10/4/2023
Category: Economics, Finance, Business & Management
