Reflexivity and the Market Mind Hypothesis: Why George Soros is Not a Failed Philosopher (and What it Means for Economics, the Economy, and Investing)

TBC

77 Pages Posted: 5 Jun 2023 Last revised: 17 May 2023

See all articles by Patrick Schotanus

Patrick Schotanus

Edinburgh Business School (Panmure House)

Ron Chrisley

University of Sussex

Andy Clark

University of Sussex

Duncan Pritchard

University of California, Irvine

Aaron Schurger

Chapman University

Date Written: December 16, 2020

Abstract

George Soros is one of the best traders of all time. That is the general consensus. While Soros gladly accepts that compliment he frequently also expressed his frustration that he failed as a philosopher. Specifically, he admits that he was unable to formulate his philosophy of reflexivity from its original abstractions. More importantly, reflexivity—which informed his successful trading—did not get the academic recognition that Soros’s track record suggests it deserves. This paper will discuss the reasons for this, the key one being that reflexivity points to the elephant in economics’s room. This will be highlighted by explaining reflexivity, from its original abstractions, in novel terms provided by cognitive science. In particular, via philosophy of mind this paper will argue why Soros is not a failed philosopher. This leads to the submission that reflexivity deserves proper recognition as an early contribution to the emerging field of cognitive economics, for which the Market Mind Hypothesis is a standard bearer. Moreover, the issues discussed are relevant in the wider context of our economic predicament.

Keywords: Cognitive Science, Consciousness, Distributed Cognition, Economics, Extended Mind, Fallibility, Finance Investment, Market Mind Hypothesis, Mind-Body Problem, Philosophy, Reflexivity, Uncertainty.

JEL Classification: A1, B1, B2, B4, B59, D03, D4, D5, E03, G

Suggested Citation

Schotanus, Patrick and Chrisley, Ron and Clark, Andy and Pritchard, Duncan and Schurger, Aaron, Reflexivity and the Market Mind Hypothesis: Why George Soros is Not a Failed Philosopher (and What it Means for Economics, the Economy, and Investing) (December 16, 2020). TBC, Available at SSRN: https://ssrn.com/abstract=3939493 or http://dx.doi.org/10.2139/ssrn.3939493

Patrick Schotanus (Contact Author)

Edinburgh Business School (Panmure House) ( email )

Edingburgh
United Kingdom

Ron Chrisley

University of Sussex ( email )

Sussex House
Falmer
Brighton, Sussex BNI 9RH
United Kingdom

Andy Clark

University of Sussex ( email )

Sussex House
Falmer
Brighton, Sussex BNI 9RH
United Kingdom

Duncan Pritchard

University of California, Irvine ( email )

P.O. Box 19556
Science Library Serials
Irvine, CA California 62697-3125
United States

Aaron Schurger

Chapman University ( email )

1 University Drive
Orange, CA 92866
United States

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