How We Misunderstand Economics and Why it Matters
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How We Misunderstand Economics and Why it Matters : The Psychology of Bias, Distorition and Conspiracy

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Description

It's easy to ignore the economic forces which shape our lives. Whether it's the policy of central banks, fluctuations in currency exchange rates or the black market economy, these important phenomena play fundamental roles in everyone's lives, and yet few people actually understand them, or the consequences that result. How we misunderstand economics and why it matters explains why our cognitive styles and habits are so unsuited to fully understanding these important yet often hidden phenomena, and what this means for the way we conceive the world around us. Accessibly written, the book explores how our 'natural' way of thinking interprets key economic issues, including: * Inflation * Pensions * Taxation * Globalisation * Financial crises Showing how our thinking is often driven by ideas of conspiracy, morality and false causality, this is an important and timely book. It will appeal not only to students and researchers of psychology and economics, but also a range of policy makers, as well as anyone interested in how our everyday understanding of economics issues affects the societies we live in. How we misunderstand economics and why it matters explains why our cognitive styles and habits are so unsuited to fully understanding important economics forces, and what this means for the way we conceive the world around us. Accessibly written, the book explores how our 'natural' way of thinking interprets key economic issues, and shows how our thinking is often driven by ideas of conspiracy, morality and false causality. This is an important and timely book which will appeal not only to students and researchers of psychology and economics, but also a range of policy makers, and anyone interested in how our everyday understanding of economics issues affects the societies we live in.show more

Product details

  • Hardback | 216 pages
  • 156 x 234mm
  • Taylor & Francis Ltd
  • ROUTLEDGE
  • London, United Kingdom
  • English
  • 1138938920
  • 9781138938922

About David Leiser

David Leiser is a Professor of Social and Economic Psychology at Ben-Gurion University of the Negev, Israel. He is currently the President of the Economic Psychology Division of the International Association of Applied Psychology, and was President (2010-2014) of the International Association for Research in Economic Psychology. Zeev Kril is Senior Researcher at the Research Unit, Chief Economist Branch of the Israel Ministry of Finance.show more

Table of contents

1. Introduction Part 1. Everday (Mis)understandings 2. Review of Financial Literacy research 3. Metaphors of Market mechanisms 4. Intentionality and Conspiratorial thinking in economics Part 2. The Economy as a System 5. Financial crises and financial stability 6. Globalization Part 3. Macro-economic concepts and how we understand them 7. How people conceive of money / currency 8. Inflation 9. The Good-Begets-Good heuristic in understanding 10. How people perceive fraud or black markets and taxation 11. Functions of and trust towards the central bank 12. Conclusions and policy implicationsshow more