The Psychology of Money
Jeffrey Hancock is a Professor of Communications at Stanford University. He was the Chair of the Information Science Department, and the co-Director of Cognitive Science at Cornell University. He is interested in social interactions mediated by information and communication technology, with an emphasis on how people produce and understand language in these contexts. His TED Talk on deception has been seen over 1 million times and he has been featured as a guest on CBS This Morning for his expertise on social media.
Overview
Psychological Effects of Money
Thinking intelligently and doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people!
Money (ie investing, personal finance, and business decisions) is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a restaurant or an elevator, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.
Learn More About The Psychological Effects of Money
Learn more about the psychological effects of money by checking out other great videos at OneDayU, including ‘How To Know If Someone Is Lying Online, ‘The Seven Wonders Of The Ancient World’ & ‘The History Of American Fast Food’ all on-demand now.
Even though the professor says he avoids politics, giving examples like Occupy Wall Street and taxing consumption lead right into politics. I give him credit for saying that the examples of income inequality and various societal ills are correlation and not necessarily causation, but the general tone is clear and the progressive solutions to the problem are very clear