The form of ‘reflexivity’ – defined by the dictionary as that which is ‘directed back upon itself’ – that is most relevant to economic methodology is that where observation of the economy leads to ideas that change behavior, which in turn changes (is directed back upon) the economy itself. As George Soros explains: "if investors believe that markets are efficient then that belief will change the way they invest, and that in turn will change the nature of the markets they are observing ... That is the principle of reflexivity". Although various versions of reflexivity have long been discussed, in recent years George Soros has been particularly effective in bringing ideas about reflexivity to the attention of the economic and financial communities. In a series of writings he has systematically argued that reflexivity is not only an important aspect of economic life, it is an aspect that is neglected in most mainstream theorizing; and in addition, that the neglect of reflexivity has been responsible for the failure of economists to predict, explain, or offer a solution for events such as the recent financial crisis. Soros’ ideas about reflexivity have important methodological significance, and his chapter in this book summarizes and clarifies his arguments. His contribution is joined by those of thirteen scholars from a wide range of relevant fields, who provide a commentary on the idea of reflexivity in economics. This book was originally published as a special issue of The Journal of Economic Methodology.

Since the individuals are not just stimulus-response machines but more complex beings that think and are simultaneously conscious of their thought, re?exivity is potentially involved in all human acts of cognition and in all conceptualizations. On this basis, each human discourse can be characterized as a way of thought f- mulation and therefore, reveals a self-referring nature. On this level of re?exivity, the individual thought shapes beliefs and mental representations which give life to mental models and strive to predict future events and developments to support the individuals in their decision-making. Such mental models are re?ected by the - dividuals themselves and on the situation they are confronted with. According to the result of this recursive application, the individuals will then decide which model they want to refer to, or in other words, which model they want to absorb. Similarly, the individuals can make use of social theories and predictions which can therefore yield recursive effects and interfere with the phenomena they aim to depict. Revealed theories, if accepted, may in?uence the behaviour or the agents they focus on, either in the sense of validation of the theoretical content or in that of its rejection.

This stimulating and challenging book provides a guide to reflexivity and reflexive practice, explaining its relevance to research in management, organisation studies and the social sciences. Rooted in the latest research, case studies and the authorÕs personal experience, the book builds a new perspective on reflexive practice involving bodily, emotional, rational and relational insights.

From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics. In a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions.

Five lectures George Soros recently delivered at the Central European University in Budapest - which he founded in 1991 - distill a lifetime of thinking on finance, capitalism and open society In a series of lectures delivered at the Central European University in October 2009, George Soros provided a broad overview of his thoughts on economics and politics. The lectures are the culmination of a lifetime of practical and philosophical reflection. In the first and second lecture, Soros discusses his general theory of reflexivity and its application to financial markets, providing insight into the recent financial crisis. The third and fourth lectures examine the concept of open society, which has guided Soros' global philanthropy, as well as the potential for conflict between capitalism and open society. The closing lecture focuses on the way ahead, closely examining the increasingly important economic and political role that China will play in the future. "The Budapest Lectures" presents these five seminal talks into one volume, which offers a condensed and highly readable summary of Soros' world view.

Reflexivity is a popular tool used to analyse personal, intersubjective and social processes which shape research projects. It enables researchers, particularly within the qualitative tradition, to acknowledge their role and the situated nature of their research. In the current climate, which sees the popularity of qualitative methods coupled with increased public and professional scrutiny of research, reflexivity provides a means of bolstering greater transparency and quality in research. This book recognises the considerable value of reflexivity to researchers, and provides a means to navigate this field. The book is foremost a practical guide which examines reflexivity at different stages of the research process. The editors and contributors offer candid approaches to the subject, which supply readers with diverse strategies on how to do reflexivity in practice. Features * Provides an accessible, practical guide to reflexive research processes, methods and outcomes * Encompasses both the health and social science fields * Includes contributions from international researchers The book is aimed at postgraduate and final year students of health and social sciences. Interested clinicians will also find useful insights in the text.

This book provides social science researchers with both a strong rationale for the importance of thinking reflexively and a practical guide to doing it. The first book to build on Pierre Bourdieu's reflexive work, it combines academic analysis with practical examples and case studies. The book will be of interest to researchers and students.

Reflexivity – the critical examination of how we see the world – is integral to good research practice. From this state-of-the-art, accessible tour of its history and contemporary relevance, readers will learn of its importance to social research and to society generally. The text introduces a host of influential thinkers and their key ideas on reflexivity, and incorporates examples from a range of disciplines and research settings. Drawing on the authors’ extensive experience of real research settings, this book: Pinpoints the importance of reflexivity in social research Demonstrates its relevance to everyday life Firmly locates the concept in the history of ideas Explores key questions about the bases of knowledge and understanding Presents key thinkers, concepts and issues in easy-to-understand learning boxes The result is a book that provides students and researchers in the social sciences with the knowledge and understanding necessary not only to examine the role of reflexivity in contemporary life, but to apply it in their own research practice.

What are the critical gaps in thinking about reflexivity and social research? How is reflexive practice shaped by the contexts and cultures in which researchers work? How might research practice respond to twin demands of excellence and relevance in the knowledge-based economy? Thinking reflexively about the inter-relationships between social research and societal practices is all the more important in the so-called knowledge economy. Developing reflexive practices in social research is not achieved through applying a method. Where and how researchers work is fundamental in shaping the capacities and capabilities to produce research as content and context lie in a dynamic interaction. This book not only provides a history of reflexive thought, but its consequences for the practice of social research and an understanding of the contexts in which it is produced. It provides critical insights into the implications of reflexivity through a discussion of positioning, belonging and degrees of epistemic permeability in disciplines. It is also highly innovative in its suggestions for ways forward in research practice through the introduction of active intermediaries. Overall, the book offers an exciting new position on reflexive research that will generate much debate through its successful achievement of two difficult feats: providing essential reading for orientations on reflexivity and social research in the twenty-first century and making a landmark contribution to thinking and practice in the field. Social Research and Reflexivity is suitable for advanced undergraduates, postgraduates and social researchers in general across a number of disciplines including geography, social research, management and organizations; economics, urban studies, sociology, social policy, anthropology and politics, as well as science and technology studies.

Economic Methodology explores the status and character of economics as a social science and introduces students to philosophical issues underlying modern science. Approaching the subject as philosophy of science for economists, the authors use the historical developments in philosophy of science to frame this introduction to the field of economic methodology. By doing this they strengthen students' understanding of economics as a science to enhance their reasoning skills, introducing them to the wider philosophical issues surrounding our understanding of the area.