In 1979, Robert Prechter postulated that social mood drives financial, macroeconomic and political behavior, in contrast to the conventional notion that such events drive social mood His description of social mood as the driver of cultural trends reached a national audience in a 1985 cover article in Barron's. Prechter coined the term "socionomics" and in 1999 published an exposition of socionomic theory, The Wave Principle of Human Social Behavior.
Since then, the counter-intuitive premise of the socionomic hypothesis—that in contexts of uncertainty, endogenous processes (not exogenous causes) create patterns of social behavior—has gained attention in academic journals, books, the popular press, etc. It has become an important topic in the social and financial world.
Below is a video that gives a grat introduction to the subject:
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