Dear visitor,

welcome to our blog on psychology and economy:

 „50 percent of economy is psychology„, Ludwig Ehrhard, first Secretary of Commerce of the Federal Republic of Germany and its later federal chancellor, mastermind of the German „Wirtschaftswunder“.

And Alfred Herrhausen, former CEO of Deutsche Bank points out: „Fifty percent of business is psychology. Business is an activity of people not computers.“ 

Well, both only got it half right. As many, they may have associated psychology to the irrational. Business and Economics are hundred percent acivities of people, and psychology is about people. It is about their perception, their learning, thinking, judgements and behavior, about their errors and mistakes, their motives and emotions. Psychology’s subject spans all the way from logic and rational reasoning, through intuition to irrationality and pathology. 

Feel invited to participate in this blog, to comment, to criticise, to ask questions or to give answers, as we will propose some insights, will rise some specific topics and will ask some questions ourselves. 

Welcome and greetings

Harald Ackerschott