A Philosophically-based Biopsychosocial Model of Economics: Evolutionary Perspectives of Human Resource Utilization and the Need for an Integrative, Multi-disciplinary Approach to Economics

By Alejandro Cañadas and James Giordano.

Published by The Social Sciences Collection

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Article: Print $US10.00
Article: Electronic $US5.00

The Biopsychosocial (BPS) Model of Economics provides a philosophical and practical approach that integrates epistemology, anthropology and ethical domains of economics that conjoins evolutionary and cognitive neuroscience to a more meaningful understanding of agent- and community-based resource valuation, utilization and allocation. Building upon the core philosophical tasks of epistemology, anthropology, and ethics, we present an evolutionary and cognitive neuroscientifically relevant view of economics as resource valuation within a framework of human ecology. We argue that the agentic “individual intelligence” of economics has merged with – and been facilitated by - “collective intelligence” that accumulates intellectual capital and achieves iterative progress through biologic and socio-cultural evolution. Thus, by understanding the biological bases of both individual and collective intelligence relevant to ecological resource valuation, use and distribution, we argue that a more finely-grained address and appreciation may be gained for economics as the cognitive and behavioral strategies and tactics of agents-in-community. Thus, we posit that the interaction and synergy between the natural and social sciences will enable a more accurate description of the complex reality that is economics. We opine that this synergy could be enacted through multidisciplinary dialog within the university. We therefore argue that the university is an essential forum and nexus for creating spaces to both explore logos, diá-logos, and communication between economics and other sciences, and ground such pursuits to ethical responsibility.

Keywords: Economics, Biopsychosocial (BPS) Model Multidisciplinary, Philosophy, Collective Intelligence

International Journal of Interdisciplinary Social Sciences, Volume 5, Issue 8, pp.53-68. Article: Print (Spiral Bound). Article: Electronic (PDF File; 700.275KB).

Dr. Alejandro Cañadas

Assistant Professor of Economics, School of Business, Mount St. Mary ’s University, Emmitsburg, Maryland, USA

I have received my PhD in Development Economics from The Ohio State University in 2008. I also have a M.B.A. with a Finance concentration from the University of Dayton in 2003. I am originally from Argentina where I have finished a B.A. in Economics from the Univesidad Catolica Argentina in 1997. In May of 2010 I have received the Dennis Tinder Professorship 2010-2014 for fostering the Mount’s mission to provide students with a thorough grounding in the liberal arts and the Catholic Faith, Mount St. Mary's University. At Mount St. Mary’s University I am teaching Foundations of Economics: Macroeconomics, Foundations of Economics: Microeconomics, The Fed Challenge Competition, Intermediate Macroeconomics, and Money and Banking. I am a visiting scholar at the Center for Neurotechnology Studies, Studies, Arlington, VA. My areas of Interests are: • Behavioral Economics, Neuroeconomics • Development Economics (Poverty & Inequality) • Economic Growth, Spatial Econometrics

Dr. James Giordano

Director, Center for Neurotechnology Studies, Potomac Institute, University of Oxford, Arlington, Virginia, USA

Dr. Giordano is the Director for the Center for Neurotechnology Studies. He is also an Affiliate Professor of Neuroscience at the Krasnow Institute for Advanced Studies at George Mason University, and he is a Senior Research Associate at the Wellcome Centre for Neuroethics, Uehiro Centre for Practical Philosophy at University of Oxford.

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