The Socionomic Theory of Finance
The Socionomic Theory of Finance is a 13-year-long effort by Robert Prechter. It includes supporting chapters from twelve other scholars, writers, researchers, and analysts. In contrast to the dismal science of economics, Prechter's theory is original, exciting, and intellectually fulfilling. Every chapter rebuts conventions and offers ground-breaking insights in presenting a cohesive model with real-world application. The book draws a crucial distinction between finance and economics and ties both fields to human social behavior.
"Socionomic theory is fresh and original. Whatever the ultimate verdict, a revolutionary new perspective and a basis for prediction are just what the social sciences presently need."
— H. Eugene Stanley, University Professor (Physics), Boston University; member National Academy of Sciences; a founding father of econophysics
"A fascinating synthesis of social science research and sharp economic analysis. Prechter invites readers to think in (unexpected) ways that require some effort that is well rewarded. Anyone who contemplates our financial future should read and try to absorb the case put forth in this book."
— Werner De Bondt, Professor of Finance; Founding Director of the Richard H. Driehaus Center for Behavioral Finance, DePaul University; co-founder of Behavioral Finance