- Paperback: 336 pages
- Publisher: Holt Paperbacks; Reprint edition (January 6, 2009)
- Language: English
- ISBN-10: 0805089160
- ISBN-13: 978-0805089165
- Product Dimensions: 5 x 0.8 x 8 inches
- Shipping Weight: 1 pounds (View shipping rates and policies)
- Average Customer Review: 50 customer reviews
- Amazon Best Sellers Rank: #1,337,228 in Books (See Top 100 in Books)
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The Mind of the Market: How Biology and Psychology Shape Our Economic Lives Reprint Edition
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From Publishers Weekly
Shermer (The Science of Good and Evil), columnist for Scientific American and publisher of Skeptic magazine, provides an in-depth examination of evolutionary economics. Using fascinating examples—from monkeys that balk at unfair distribution of rewards after completing a task to humans who feel cheated when offered $10 of free money if a partner is given $90—Shermer explores the evolutionary roots of our sense of fairness and justice, and shows how this rationale extends to the market. Drawing upon his expertise as a scientist and the works of noted economists, Shermer argues convincingly that human beings are not exclusively self-centered, the market itself is moral, and modern economies are founded on our virtuous nature. He explores how we mind our money, the value of virtue, why money can't buy happiness and whether we are really free to make choices. Though dense in places, this book offers much insight into human behavior and rationales regarding money and fairness and will be of interest to serious readers of science or business. (Jan.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.
“[A] captivating raconteur of all the greatest hits of behavioral, evolutionary and neuropsychology, [and] provider of wonderful cocktail party material... Fascinating.” ―Los Angeles Times Book Review
“The book has no end of conversation starters, from capitalism as modern Darwinism to neuroeconomics that show that--biochemically, at least--a human brain is shockingly similar during smooth business deals and sex.” ―Boston Globe
“Have you ever wondered how people develop trust and live together peacefully? Michael Shermer's new book uses psychology and evolution to examine the root of these human achievements… [He] has earned the right to our attention.” ―Washington Post
“Drawing from research, and injecting his own wit, Shermer explains why people make bad decisions about money, why wealth can't buy you happiness, and why we love cooperating.” ―Psychology Today
“Compelling… Take[s] us on an intimate tour of the best of the last half-century's work in behavioral economics and neuroscience.” ―New York Post
“Entertaining… a fascinating tour d'horizon of discoveries in several of today's cutting-edge sciences.” ―The Globe and Mail (Toronto)
“Well-written [and] highly entertaining…. Replete with thought-provoking examples and solid references, the book will start as many debates as it will end.” ―Choice
“[The Mind of the Market] provides a thorough account of what's going on in a branch of psychology dedicated to understanding the natural origins of economic decisions.” ―Science News
“Pure entertainment… Some of the most interesting economic research being undertaken these days draws on the disciplines of cognitive science and psychology, and [The Mind of the Market is a] highly readable contribution.” ―The Business Economist
“Eye-opening … [The Mind of the Market] recounts truly fascinating experiments and discoveries regarding physiological components of our market decisions…. Filled with fun analogies and a smattering of funny lines.” ―Humanist
“Thoughtful and complete…You're certain to learn something new when you read it.” ―WestWord
“[Shermer] does a bang-up job knitting together the complexities of science and the frail psychology of human beings to explain the unpredictable postmodern world of trade and finance…. An informative, inventive, broad-spectrum analysis of what makes modern man tick, starting with his wallet.” ―Kirkus Reviews
“Using fascinating examples… Shermer explores the evolutionary roots of our sense of fairness and justice, and shows how this rationale extends to the market…. Offers much insight into human behavior and rationales regarding money.” ―Publishers Weekly
“The Ripley's Believe It or Not of behavioral economics, or why people act the way they do in a capitalistic marketplace…. Shermer applies his wide-ranging knowledge of science and its rigorous investigatory discipline to uncover the answers and make connections between trade and emotion--in essence, popularizing neuron-economics.” ―Booklist
“Extremely interesting… Shermer is a fantastic presenter.” ―Steven D. Levitt, The New York Times Freakonomics Blog
“Michael Shermer brilliantly shows that the real experts of Homo economicus are often found in psychology, biology, even primatology.” ―Frans de Waal, author of Our Inner Ape
“Written with his customary verve and flair, The Mind of the Market is Michael Shermer at his best.” ―Dinesh D'Souza, author of What's So Great About America
“Economists who understand Charles Darwin are almost as rare as biologists who understand Adam Smith. Yet the two were essentially saying the same thing--that order emerges unordained from competition and innovation. Michael Shermer brilliantly brings the two insights together to explain how the human mind creates the human market.” ―Matt Ridley, author of The Origins of Virtue
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Top customer reviews
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You would be better off buying "The Believing Brain," which covers much of the same terrain.
He explores the limits and nature of human consciousness and awareness and, as he is wont to do, bites most everyone's dog. So it helps to limber up and step back as you enter this book. And enjoy his splendid investigation of why and how we behave. The Mind of the Market: How Biology and Psychology Shape Our Economic Lives
Shermer, an adjunct economics professor at Claremont University and the founder of Skeptic Society, explores the evolutionary roots of our sense of fairness and justice, and shows how this rationale extends to the market. Drawing upon his expertise as a scientist and noted economists, Shermer argues humans are not self-centered. The market itself is moral. Modern economies are founded on our nature.
Drawing on neuroeconomic, behavioral and evolutionary biology studies, Shermer discusses what brain scans reveal about decision-making processes and negotiating. Using studies I was unfamiliar with, he builds on Eric Beinhocker's comprehensive study of complexity economics, Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics
Shermer argues economics is far from "dismal."
1. It is undergoing its most dynamic revolution since Adam Smith penned The Wealth of Nations. Evolutionary, complexity and neuro economics are adding richness and understanding to it.
2. People are passionate about their personal economics and finances. Far being a science of mind-boggling mathematical models, these new sciences add richness and predictability to its study.
Shermer is one of those rare writers with the ability to weave insights from science into economics. His insights bring new understanding to how our human minds create the human markets.
My point in writing this review is to highlight how readable this book was.
The author uses interesting experiments and personal experiences to explain his theories on human behavior and the efficiency of bottom up systems (capitalism) versus top down systems.
Very good read.
Most recent customer reviews
Evolutionary economics, complexity economics, behavioral economics, neuroeconomics,...Read more