Response to Cornel Ban’s review of The Currency of Confidence: How Economic Beliefs Shape the IMF’s Relationship with Its Borrowers

2018 ◽  
Vol 16 (3) ◽  
pp. 789-790
Author(s):  
Stephen C. Nelson
Keyword(s):  
Economic Beliefs

The challenge of accounting for individual differences in folk-economic beliefs

2018 ◽  
Vol 41 ◽  
Author(s):  
Benjamin C. Ruisch ◽  
Rajen A. Anderson ◽  
David A. Pizarro
Keyword(s):  
Individual Differences ◽  
Individual Variation ◽  
Political Ideologies ◽  
Economic Beliefs ◽  
Existing Data

AbstractWe argue that existing data on folk-economic beliefs (FEBs) present challenges to Boyer & Petersen's model. Specifically, the widespread individual variation in endorsement of FEBs casts doubt on the claim that humans are evolutionarily predisposed towards particular economic beliefs. Additionally, the authors' model cannot account for the systematic covariance between certain FEBs, such as those observed in distinct political ideologies.

Folk-economic beliefs as moral intuitions

2018 ◽  
Vol 41 ◽  
Author(s):  
Neil Malhotra
Keyword(s):  
Resource Allocation ◽  
Moral Intuitions ◽  
Economic Beliefs ◽  
Evolutionary Explanations

AbstractAlthough Boyer & Petersen's (B&P's) cataloguing of and evolutionary explanations for folk-economic beliefs is important and valuable, the authors fail to connect their theories to existing explanations for why people do not think like economists. For instance, people often have moral intuitions akin to principles of fairness and justice that conflict with utilitarian approaches to resource allocation.

Social transmission bias and the cultural evolution of folk-economic beliefs

2018 ◽  
Vol 41 ◽  
Author(s):  
David Hirshleifer ◽  
Siew Hong Teoh
Keyword(s):  
Cultural Evolution ◽  
Social Transmission ◽  
Cognitive Approach ◽  
Economic Problems ◽  
Economic Attitudes ◽  
The Social ◽  
Economic Beliefs ◽  
Over Time

AbstractEvolved dispositions influence, but do not determine, how people think about economic problems. The evolutionary cognitive approach offers important insights but underweights the social transmission of ideas as a level of explanation. The need for asocialexplanation for the evolution of economic attitudes is evidenced, for example, by immense variations in folk-economic beliefs over time and across individuals.

Elaborating the role of reflection and individual differences in the study of folk-economic beliefs

2018 ◽  
Vol 41 ◽  
Author(s):  
Kevin Arceneaux
Keyword(s):  
Decision Making ◽  
Individual Differences ◽  
Cognitive Processes ◽  
Evolutionary History ◽  
Behavioral Responses ◽  
History Of ◽  
Economic Beliefs

AbstractIntuitions guide decision-making, and looking to the evolutionary history of humans illuminates why some behavioral responses are more intuitive than others. Yet a place remains for cognitive processes to second-guess intuitive responses – that is, to be reflective – and individual differences abound in automatic, intuitive processing as well.

Openness and Self-enhancement are predictors of cultural and economic beliefs: an analysis of European countries across 15 years

2019 ◽  
Author(s):  
Gabriela Czarnek ◽  
Małgorzata Kossowska
Keyword(s):  
Cultural Context ◽  
Cultural Beliefs ◽  
European Social Survey ◽  
European Countries ◽  
Political Beliefs ◽  
Economic Beliefs ◽  
Nationally Representative ◽  
Self Transcendence ◽  
Using Data ◽  
The Relationship

In this study, we investigate the relationship between values and political beliefs and how it varies as a function of cultural context and time. In particular, we analyzed the effects of Conservation vs. Openness to change and Self-transcendence vs. Self-enhancement for cultural and economic political beliefs using data from nationally representative samples of citizens from 34 European countries from eight rounds of the European Social Survey (data spans the 2002–2016 period). We found that the effects of values on political beliefs are moderated by the Western vs. Eastern cultural context and that there is a modest round-to-round variation in the effects of values on beliefs. The relationship between Openness and cultural beliefs was negative and largely consistent across the Western and Eastern countries. Similarly, the effects of Self-enhancement were positive across these Western and Eastern countries. In contrast, the effects of Openness on economic beliefs were positive for the Eastern countries but largely weak and inconsistent for the Western countries. Finally, the effects of Self-enhancement on cultural beliefs are weak for both cultural contexts.

scholarly journals Economic Beliefs and Party Preference

2014 ◽  
Author(s):  
Michael W. M. Roos ◽  
Andreas Orland
Keyword(s):  
Party Preference ◽  
Economic Beliefs

Argentina and the IMF in Turbulent Times, 1976–1984

2017 ◽  
Author(s):  
Stephen C. Nelson
Keyword(s):  
International Monetary Fund ◽  
Sovereign Default ◽  
Military Junta ◽  
Turbulent Times ◽  
Economic Beliefs ◽  
The Military ◽  
The International Monetary Fund ◽  
Economic Policymaking ◽  
The Imf

This chapter examines Argentina's relationship with the International Monetary Fund (IMF) during the period 1976–1984. It tracks Argentina's engagement with the IMF from the arrival of a Fund mission soon after the military junta took power in 1976 through to the economic meltdown in the last months of 2001, which culminated in the withdrawal of IMF support for the country and the largest sovereign default in history to that point. The Argentina-IMF case is used to test the argument linking treatment of borrowers to shared economic beliefs. The chapter first provides an overview of economic policymaking in Argentina in 1976–1981 and in 1991–2001; economic policymaking in the latter period was dominated by neoliberals. It also compares the economic beliefs of neoliberals with those of structuralists and concludes with a discussion of the breakdown in Argentine-IMF relations.

scholarly journals Sense or non-sense? a critical discussion of a recent evolutionary–cognitive approach to “folk-economic beliefs”

2019 ◽  
Vol 17 (1) ◽  
pp. 29-47 ◽  
Author(s):  
Theiss Bendixen
Keyword(s):  
Human Mind ◽  
Critical Discussion ◽  
Cognitive Approach ◽  
Dual Inheritance Theory ◽  
Starting Point ◽  
Massive Modularity ◽  
Economic Beliefs ◽  
Environment Of Evolutionary Adaptedness ◽  
And Behavior ◽  
Dual Inheritance

Laypeople hold beliefs about economics and policy issues—so-called folk-economic beliefs (FEBs)—that are often wrong or misleading according to professional economists. Here, I critically discuss a recent evolutionary–cognitive approach to understanding folk-economic beliefs. According to this approach (Boyer & Petersen 2018a), some economic beliefs are more prevalent than others, because such beliefs (i.e., folk-economic beliefs) resonate with evolved features of the human mind. I refer to this as the “FEB hypothesis”. A central challenge to the FEB hypothesis, with its heavy reliance on universal cognitive features, is to explain individual and cultural differences in economic beliefs and behavior. This challenge is the starting point for the discussion. Overall, the conclusion of this paper is that the FEB hypothesis relies on unnecessarily strong and controversial theoretical assumptions (e.g., “massive modularity” and the “Environment of Evolutionary Adaptedness”), and that it overlooks important findings from adjacent fields, but that the FEB hypothesis, following some modifications inspired by Dual Inheritance Theory, can be integrated with robust findings from the rest of the evolutionary, cognitive, and anthropological sciences, as well as standard political psychology. Based on this discussion, the paper ends with brief reflections on how to correct inaccurate folk-economic beliefs.

Sign in / Sign up

Export Citation Format

Share Document