This book completely turns around the conventional direction of causality between financial markets and social moods and behaviors. Peruse more than 20 years of research into this new model of thought, the science of socionomics.
What drives our social mood? Our actions? Our motivations? The answers to these questions can be found in the new science of socionomics.
Pioneering Studies in Socionomics is the follow-up to Prechter's groundbreaking introductory text on socionomics, The Wave Principle of Human Social Behavior. It's comprised of a rich collection of insightful studies and essays representing over 20 years worth of research into this new model of thought.
Socionomic theory evolved from the Wave Principle, a model of financial pricing and catalog of price patterns identified by Ralph Nelson Elliott in the 1930s. Robert Prechter proposes that our social lives are patterned in much the same way as the financial markets. Prechter explains that people in groups share a collective disposition or mood that motivates social, political, economic and financial action.
Come along as the proto-socionomists map their way through uncharted seas to introduce, test and practice their newly discovered craft.
Robert Prechter began his professional career in 1975 as a Technical Market Specialist with the Merrill Lynch Market Analysis Department in New York. He has been publishing The Elliott Wave Theorist since 1979 and is the president of Elliott Wave International. He is also Executive Director of the Socionomics Institute, which studies social mood and its impact on social action, including the stock market and the economy. Prechter has been named "one of the premier timers in stock market history" by Timer Digest, "the champion market forecaster" by Fortune magazine, "the world leader in Elliott wave interpretation" by The Securities Institute, and "the nation's foremost proponent of the Elliott wave method of forecasting" by The New York Times.
"Predicting the stock market is a national pastime. In this book, Prechter and colleagues turn the tables and explore the stock market as a predictor in its own right. Because the market is a sensitive gauge of national and world mood, Prechter holds, its movements can be used to anticipate everything from the popularity of brand names and spectator sports to the outbreaks of war. The socionomic thesis is provocative one, worthy of serious consideration and investigation."