The Neuroeconomics Revolution

NeuroeconomicsThe left/right paradigm is coming to a quicker end than I thought. Robert Schiller writes at Al Jazeera:

Economics is at the start of a revolution that is traceable to an unexpected source: medical schools and their research facilities. Neuroscience — the science of how the brain, that physical organ inside one’s head, really works — is beginning to change the way we think about how people make decisions. These findings will inevitably change the way we think about how economies function. In short, we are at the dawn of “neuroeconomics”.

Efforts to link neuroscience to economics have occurred mostly in just the last few years, and the growth of neuroeconomics is still in its early stages. But its nascence follows a pattern: revolutions in science tend to come from completely unexpected places. A field of science can turn barren if no fundamentally new approaches to research are on the horizon. Scholars can become so trapped in their methods — in the language and assumptions of the accepted approach to their discipline — that their research becomes repetitive or trivial.

Then something exciting comes along from someone who was never involved with these methods — some new idea that attracts young scholars and a few iconoclastic old scholars, who are willing to learn a different science and its different research methods. At a certain moment in this process, a scientific revolution is born.

Read more here.

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  • BuzzCoastin

    most overlook the fact that
    money creates an effect on human consciousness
    just as it does on monkey consciousness
    when money is introduced into monkey societies

    humans lived for millennium without using money
    but the last 5000 years of monetary effects
    have brought humans to the point of annihilation
    completely unaware of the cause and effect of money
    caveat emptor

  • http://buzzcoastin.posterous.com BuzzCoastin

    most overlook the fact that
    money creates an effect on human consciousness
    just as it does on monkey consciousness
    when money is introduced into monkey societies

    humans lived for millennium without using money
    but the last 5000 years of monetary effects
    have brought humans to the point of annihilation
    completely unaware of the cause and effect of money
    caveat emptor

  • MindAtPlay

    There is no mention of the Left/Right paradigm coming to an end in the article.

  • MindAtPlay

    There is no mention of the Left/Right paradigm coming to an end in the article.

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