Economy of happiness (amazing!), theory of perspectives, behavioural economics, neuro-economics...

Winner of the Nobel Prize in Economics, Daniel Kahneman has been upsetting theories on economics and the belief in a perfectly rational homo oeconomicus.

Because he was able to show that our decisions and behaviours are infused with cognitive illusions. He explains that our decisions are above all taken under the influence of an emotional, intuitive and rapid System 1. This System establishes relations and feeds on a network of memories and emotions which are mutually reinforcing one another. It seeks global coherence, but does not rely on anything rational in doing so. Reason is a matter for System 2. This System evaluates the pertinence of the responses of System 1. In addition, it is a living praise of the laziness which is actually saving itself.

The beauty of this analysis is that it gives our sensitive brain a central role again: it is that brain that allows us to make sense of the world around us.

To me, Daniel Kahneman clarifies the power of ethnographic studies from the point of view of an economist and a psychologist. Read more

I met digital artist Soomi Park in Seoul a few years ago, and her wearable technology experiments have made a strong impression on me. Today, she tackles the issue of privacy protection, a sensitive subject especially since the PRISM scandal. Her project, The Republic of Privacy, stages a fictitious republic in which everything, but absolutely everything, is private. And she questions the possibility of living in complete privacy, while still benefitting from digital technology.

Her project raises questions on the value of information and privacy: what new sociological value can spring from sharing our personal data? How can we build up true and sincere relationships and share intimacy in this fictitious nation? What new technological systems do we need to invent to guarantee a completely private life and take care of this new cultural system?

This year, her projects are exhibited at the Royal College of Art 2013 SHOW in London.

Photo credit: Christian Scheer for Soomi Park

I met  Chris Lunch, co-founder of InsightShare: I highly respect his pure socio-anthropological approach. His idea, as audacious as it is, is to push the scientific observation approach to the extreme... until anthropologists disappear altogether!

How and why? The ambition of the teams working at InsightShare is to transform social realities thanks to the power of participative video. They train men and women in communities to use video equipment and make video films. They give them the power to observe one another and to express what they feel with no outside influence. As such, anthropologists disappear to the benefit of the observed/observers.

At last, a case of biter/bit that produces social wealth!

(c) image InsightShare

Participative financing, micro-credit, integral loans, crowdfunding, call it what you want but financing new projects has never been so out of reach to traditional banks. The need for financing local projects is on the forefront of innovative initiatives in the financial sector. The transformation of financial organisations has begun. We are still far from the expected mutation. It will impact – and is already impacting! – on all our lives.

For those interested in the subject, I recommend reading the excellent article (in French!) entitled "Entre nous, le bonheur est dans le prêt" by Anne-Sophie Novel, dealing with co-operative finance initiatives on the blog of online French newspaper Le Monde, which highlights a deep aspiration to see money (re)becoming a tool, more than a means of speculation. For the growth of SMEs, for the dynamism of our economic system, the years to come are going to be fascinating!