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The credit crunch: Ideological, psychological and epistemological perspectives

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  • Lewis, Alan

Abstract

Two economic interpretations of the credit crunch are outlined and the question posed whether these are incommensurate ideological positions. Psychological perspectives are then explored including insights from cognitive and social psychology. The argument is made that policy options depend on what constitutes the 'good society' and whether the culture of financial institutions can be changed by government intervention, social pressure and human agency. It is concluded that those interested in socio-economics have a duty to engage with alternative discourses.

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  • Lewis, Alan, 2010. "The credit crunch: Ideological, psychological and epistemological perspectives," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(2), pages 127-131, April.
    • Handle: RePEc:eee:soceco:v:39:y:2010:i:2:p:127-131
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    References listed on IDEAS

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    5. Moore, Don A. & Kurtzberg, Terri R. & Fox, Craig R. & Bazerman, Max H., 1999. "Positive Illusions and Forecasting Errors in Mutual Fund Investment Decisions, , , ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 79(2), pages 95-114, August.
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    Cited by:

    1. Lewis, Alan & Bardis, Alexander & Flint, Chloe & Mason, Claire & Smith, Natalya & Tickle, Charlotte & Zinser, Jennifer, 2012. "Drawing the line somewhere: An experimental study of moral compromise," Journal of Economic Psychology, Elsevier, vol. 33(4), pages 718-725.
    2. Sara Jonsson & Inga-Lill Söderberg, 2018. "Investigating explanatory theories on laypeople’s risk perception of personal economic collapse in a bank crisis – the Cyprus case," Journal of Risk Research, Taylor & Francis Journals, vol. 21(6), pages 763-779, June.
    3. Söderberg, Inga-Lill & Wester, Misse, 2012. "Lay actions in the face of crisis—Swedish citizens’ actions in response to the global financial crisis of 2008," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(6), pages 796-805.
    4. Sabine Frerichs, 2011. "False Promises? A Sociological Critique of the Behavioural Turn in Law and Economics," Journal of Consumer Policy, Springer, vol. 34(3), pages 289-314, September.
    5. Rötheli, Tobias F., 2012. "Boundedly rational banks’ contribution to the credit cycle," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(5), pages 730-737.

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