This second edition is a completely rewritten and much expanded version of the first edition, published nearly 15 years earlier. It surveys what changes have occurred within behaviorism and whether it has maintained its influence on experimental cognitive psychology or other fields.
The mission of the book is to help steer experimental psychology away from its current undisciplined indulgence in "mental life" toward the core of science, which is an economical description of nature. The author argues that parsimony -- the elementary philosophical distinction between private and public events, even biology, evolution and animal psychology -- all are ignored by much contemporary cognitive psychology. The failings of radical behaviorism as well as a philosophically defective cognitive psychology point to the need for a new theoretical behaviorism, which can deal with problems such as "consciousness" that have been either ignored, evaded or muddled by existing approaches.
This new behaviorism provides a unified framework for the science of behavior that can be applied both to the laboratory and to broader practical issues such as law and punishment, the health-care system, and teaching.
John Staddon is James B. Duke Professor of Psychology and Emeritus Professor of Biology and Neurobiology at Duke University, and an honorary visiting professor at the University of York, United Kingdom. He is a fellow of the American Association for the Advancement of Science and the Society of Experimental Psychologists, and has a Docteur, Honoris Causa, from the Université Charles de Gaulle, Lille 3, France. His research is on the evolution and mechanisms of learning in humans and animals, and the history and philosophy of psychology, economics and biology. He is past editor of Behavioural Processes and Behavior & Philosophy, and is the author of more than 200 research papers and five books. He writes and lectures on a wide range of important public policy issues.
Even after the global financial meltdown of 2008, economists have clung to Adam Smith’s “Invisible Hand” theory of an always selfregulating market that benefits private and public interests alike. But Duke University professor John Staddon is here to tell that there’s also another, darker force at work on Wall Street—a “Malign Hand” that guides all human interactions, including our finances.
Combining psychology, behavioral economics, and other sciences, Staddon’s explosive new theory reveals the underlying principles behind the economic crisis, exposing the invisible mechanisms that drive our markets today. You’ll learn how we can:Prevent market bubbles from building Distinguish voluntary from involuntary market risk and regulate them differently Simplify and restore Glass-Steagall Understand market mechanisms through Darwinian dynamics Moderate boom and bust cycles and make financial markets sustainable
Using economic theory, global market trends, and psychological research, Staddon’s electrifying book is both analytical and prescriptive—with a number of possible solutions to our most pressing economic concerns. You’ll learn about the wrong assumptions that underlie our present system, basic rules for managing risk, and the real reasons behind the market’s greatest successes and biggest disasters.
You’ll hear surprising insights into the delicate relationship between Wall Street and Washington—with assessments of the bailouts, the Dodd-Frank bill, and other attempts at financial regulation. Best of all, you’ll discover realistic solutions that can stop the boom-and-bust cycle once and for all.
Compelling, controversial, and remarkably thorough, The Malign Hand of the Markets will change the way we plan our future, manage our finances, and build our fortunes.