The practice of economics is currently undergoing a transformation, as it tips away from the mechanistic framework to the behavioral and the psychological. I believe the current financial crisis will only serve to accelerate the change in trend. For myself, I am pleased with the change. The economics discipline is long overdue for an influx of new thinking, and cross-pollination from other fields.
One psychological phenomenon that has long interested me is epiphany. My hunch is that epiphany will be understood as playing a crucial role in the next phases of this global financial crisis. Particularly with respect to money, forms of money, and the role of money. Epiphany, I think, is due to become a hot topic among economists.
Below is a short clip of Jonah Lehrer talking about the nature of epiphany. His view that epiphany often occurs during a rest period from the acute phase of a crisis fits in nicely to what may come in the next 3-6 months.
-Gregor
