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by Sebastian Laza (Author)
The selfish and utilitarian side of human beings, that of Adam Smith's famous "invisible hand," is the basis of traditional economic theory. But this is a partial approach to the complex human dimension, being necessary to incorporate the emotional side to the economic models, to include the passions that often cloud reason, the empathy and trust generation, the collaborative and cooperative spirit, the psychological biases that make markets fall into bubbles, overreactions, panics, along with our powerful "unconscious rationality", which dominates much of daily decisions.EMOTIONAL ECONOMICS aims to help understand why we are as we really are with money and other scarce resources, and not as we have been told that we are, as well as helping to be a little more friendly with the internal tension that we carry between reason and emotions, which makes the very essence of each economic decision.
