Socioeconomics for the 21st Century

Author(s)

Torben Larsen , Col Prof Dr. J Satpathy ,

Download Full PDF Pages: 01-15 | Views: 163 | Downloads: 57 | DOI: 10.5281/zenodo.7549897

Volume 11 - December 2022 (12)

Abstract

A review-based neuroeconomic model of decision-making (NeM) identifies general risk-willingness as a parameter of economic behavior with crucial implications to more domains of Socioeconomics:
1. NeM orders the Big5 personalities into a simplified model for sensitivity training of managers. NeM elaborates on the Pilot-in-the-plane model of entrepreneurship, too.
2. Neuroeconomic trials show man is neither egoist or altruist but a hybrid with a cultural potential for development of democracy beyond classical fighting of wings towards collaboration across-the- center on issues of common interest (strong economic-political reciprocity). Such strong reciprocity is required towards global threats such as 1) CO2 Tariff towards global warming and 2) Universal Basic Income (UBI) for redistribution. A primary target group for promotion of such strong reciprocity is found in social liberal political movements as confirmed by a Field Study of Danish social liberals.
3. NeM explains too meditative in-depth-relaxation as effective towards epidemic job-related stress.
Discussion focuses on responses to this approach to Socioeconomics from other social scientists.

Keywords

Neuroeconomics, Big5, Political Economy, stress-management, UBI, Simple Living.

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Cite this Article:

Torben Larsen, Socioeconomics for the 21st Century, International Journal of Management Sciences and Business Research 12(2022):01-15 DOI: 10.5281/zenodo.7549897