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/

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/

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.

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.

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).

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.

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.

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.

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.

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.