Perspectives at the Intersection of Psychology and Economics (Panel)


Panelists: Peter Petschauer, PhD, Appalachian State University; and Jay Einhorn, PhD, Private Practice


Thursday, May 31st, 2018 @1:40 pm - 3:25 pm;   Room 914

2 CEUs


Our psychological and economic lives are deeply interconnected, but therapist training tends to overlook this and focus on personality, as if personality doesn’t develop and live in an economic context. This program offers two perspectives on the interconnections of psychology and economics.

In “Psychoeconomics:  Psychology of Money and Meaning,” Jay Einhorn will consider money as a source of stored social energy, with dynamic power both in our sense of self and agency, and in our relationships. 

Peter Petschauer will present on “Living with Debt:  Unique Psychological and Cultural Perspectives on Trade Imbalances.”  Why is it that English and Latin speaking countries almost exclusively, including nearly all former British colonies, have negative trading balances? Traditional explanations fail to address why some nations tolerate negative trading imbalances, and others favor positive balances. We will explore some new approaches to understanding this phenomenon.  


Learning Points:

At the end of this educational activity, its participants will be able to:

1) analyze the evolution of money as a form of stored social energy throughout human history, and the dynamic role of money in human relationships at the micro and macro levels, including facilitating the interconnectedness of societies and cultures around the earth;

2) discuss the role of changing economic circumstances in the emergence of lynching (in the United States, after the Civil War) and Nazism (in Germany, after World War I); 

3) discuss the meaning and dynamic activity of money in the psychotherapeutic relationship.



Cantril, H. (1941). The psychology of social movements. New York, NY: Wiley. London, UK: Chapman and Hall.

Crawford, M. B. (2015). The world beyond your head: On becoming an individual in an age of distraction. New York: Farrar, Straus, Giroux.

Einhorn, J. (1986). Child custody in historical perspective: A study of changing social perceptions of divorce and child custody in Anglo-American law.  Behavioral Sciences and the Law, 4(2), 119-135.

Einhorn, J. (2018). Election 2016:  A Psychoeconomic, Psychohistorical Analysis.  Journal of Psychohistory. Winter, 2018.

Elovitz, P. H. (2009). Psychological explorations of economic crises. Clio’s Psyche, 16(1), 1-6.

Fraad, H. (2009).  Economic disaster— psychological disaster. Clio’s Psyche, 16(1), 34-38.

Kahneman, D. (2011). Thinking fast and slow. New York, NY: Farrar, Straus, Giroux.

Langs, R.J. (1988).  A primer of psychotherapy. New York, NY: Gardner Press.

Miller, G. (2010). Spent: Sex, evolution and consumer behavior. New York, NY:  Penguin Random House.

Shah, I. (1964). The Sufis. New York, NY: Doubleday. 

Shefrin, H. (2002). Beyond greed and fear:  Understanding behavioral finance and the psychology of investing. New York, NY: Oxford University Press.


Bios of the Presenters:

Peter Petschauer, PhD is Professor Emeritus of History at Appalachian State University. His published writings include works of history, fiction, memoir and poetry, including on women’s education in 18th century Germany, a novel on a unique German woman during the same period in Germany, an account of four women who sustained the author when he was displaced child in Europe during World War II, and poems of a personal and political nature.

Jay Einhorn, PhD (jay@psychatlarge.com) is a clinical psychologist and psychoanalyst in the Chicago area.  He is past President of the Chicago Association for Psychoanalytic Psychology and has been faculty at Roosevelt University and Argosy University.  He is the author of Leadership in Health Care and Human Service Organizations.


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