Why and How Humans Trade, Predict, Aggregate, and Innovate: An Economist's Lessons on the Role of Human Behavior and Economic Systems

Trading, forecasting, aggregating, and innovating (the Four) are essential social interactions in human life, stemming from mankind's peculiarities. Humans need to organize themselves to maintain, improve, and extend their social interactions and a safe and ordered life. Economics students can exploit this book by inserting what they are learning from textbooks into a wider framework and enjoying the hints revealed by the grand social theorizing of giants.

Format: Hardback
Length: 183 pages
Publication date: 07 March 2022
Publisher: Springer Nature Switzerland AG

Trading, forecasting, aggregating, and innovating (the Four) are fundamental social interactions in human life at both the individual and aggregate levels. They are integral to the human fabric, stemming from our unique characteristics such as heterogeneity, inclination to forecast, sociality, and inventiveness. However, human behavior is multifaceted, encompassing contradictory impulses, integration and disintegration, cooperation and dominance, and prosocial and antisocial behavior. As such, humans must organize themselves to maintain, improve, and extend their social interactions and ensure a safe and ordered life.

Crucial intersections arise naturally, as the efficiency of humans in tackling the Four is a joint product of economic systems, institutions, and behaviors. This book aims to provide a comprehensive exploration of why and how humans implement the Four. The narrative highlights several connections and emphasizes the critical importance of these businesses as the traveler is guided through various behavioral problems and institutional solutions that humans have been facing and elaborating upon over time.

This book is particularly valuable for economics students, as it allows them to integrate their textbook learning into a broader framework and gain insights from the grand social theorizing of giants such as Adam Smith and John Schumpeter. It can also attract outsiders to economics who are curious about disparate economic themes linked to the Four but wish to gain an overview without engaging in longer readings.

In conclusion, trading, forecasting, aggregating, and innovating (the Four) are essential social interactions in human life, and their implementation is a complex interplay of economic systems, institutions, and behaviors. This book provides a comprehensive exploration of these interactions, highlighting connections and emphasizing the critical importance of these businesses in maintaining, improving, and extending social interactions and ensuring a safe and ordered life. Whether you are an economics student or an outsider interested in economics, this book offers valuable insights and perspectives.

Dimension: 235 x 155 (mm)
ISBN-13: 9783030938840
Edition number: 1st ed. 2022