It is slowly becoming general knowledge – so much so that this week’s issue of the Economist has published a two-page article on “neuroeconomics”. WHAT!!! AM I DREAMING???? ARE WE SLIDING INTO THE DEPTHS OF DELIRIUM??? No we are not, my friends. The field of behavioural economics is expanding – rightly – to include the neurological mechanisms that affect our economic behavour. This is wonderful for a couple of reasons:
1 – economics is simply one form of creating, learning and expressing certain human behaviours.
2 – economic behaviour, therefore, is neither completely rational, nor completely chaotic – two exteremes that have been usufully, but perhaps too emphatically engrained into our understanding of what economics is. I mean that for both macro and micro-economics.
May I be honest? If you want to be a marketer – learn some management and psychology!