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Subrat SaurabhAuthor of Kuch Woh Pal
John Lok posits that the economic environment is a significant driver of social change, which in turn shapes human behavior. He argues that traditional economic models, which often assume rational, unemotional actors, fail to capture the full spectrum of human decision-making [3], [4]. Instead, Lok applies behavioral economic theory, integrating psychology with economics, to explain how human limitations and cognitive biases affect market dynamics and broader societal trends [3], [4].
One key aspect of my explanation is the concept of "new social marketing demand changes." My view suggests that shifts in the economic landscape, such as the rise of e-commerce, create new networks of human interaction and job structures .
These changes in how people work and interact economically can have direct and indirect influences on economic growth or recession at both macro and micro levels . For instance, the convenience and accessibility offered by e-commerce platforms can alter consumer habits, labor markets, and even the social fabric of communities, leading to new demands and expectations .
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John Lok
My analysis extends to the impact of technology on global labor markets, questioning whether technological advancements lead to an increase or decrease in job numbers and how human behavior mediates these effects .
My view emphasizes that understanding the interplay between human psychology and economic theory is crucial for comprehending these complex dynamics .
In essence, my work provides a comprehensive framework for understanding how economic environments instigate social changes, which then ripple through society to influence human behavior, ultimately shaping the trajectory of economies and societies .
