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Classical economics vs. behavioral economics.

September 12, 2011

This posting is in anticipation of my presentation at the third annual meeting of the behavioral economics and finance conference at UCLA, September 21-23. Although my topic is “We have curtailed the power of behavioral economists,” while doing more research I have realized that historical turf wars extend to all classical vs. behavioral systems. For example, Behavioral physics (Einstein) has replaced classical physics (Newton) for the betterment of man understanding the universe.  Every classical system that incorporates the scientific study of human behavior  (how decision-making evolve) gains greater power to make a difference in your life and mine. The scientific study of human behavior in politics may prevent wars. The scientific study of human economic behavior may prevent recessions. The scientific study of human behavior in marriage may prevent divorce. In fact, the scientific study of  behavior in human relationship with God, nature and man may prevent most afflictions!

Having said that, sadly, it’s all just philosophical. Did you know that  throughout my career as a psychologist most of the people I met did not  know that thinking and feeling were not a behavior! Do you want a solution that is not just philosophy? Ask me about how to start  a C-MOR curriculum in your school!

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