DVD RELEASE DATE : JUNE 29TH
In the aftermath of the worst financial crisis since the Great Depression, PBS and NOVA present Mind Over Money — an entertaining and penetrating exploration of why mainstream economists failed to predict the crash of 2008 and why we so often make irrational financial decisions. PBS Distribution will release Mind Over Money on DVD June 29.
Mind Over Money reveals how our emotions interfere with our decision-making and explores controversial new arguments about the world of finance. Before the current crash, most Wall Street analysts believed that markets are “efficient”—that investors are reasonable and always operate in their own economic self-interest. Most of the time, these assumptions of classical economics work well enough. But in extreme situations, people panic and conventional theories collapse. In the face of the recent crash, can a new science that aims to incorporate human psychology into finance—behavioral economics—do better?
Mind Over Money features some of this new field’s most compelling experiments. Audiences will see how the brains and bodies of Wall Street traders respond as they buy and sell stocks and watch as an ingenious experiment reveals how an excessive number of spending choices can overwhelm consumers’ ability to make rational decisions. Through these entertaining real-life experiments, NOVA demonstrates how mood, decision-making, and economic activity are all tightly interwoven. By delivering unexpected insights from leading analysts and powerful experiments, Mind Over Money exposes the mysterious and surprising nature of two of the most powerful forces on our planet: the human mind and money.