Profitably shared delusions

Abstract

Purpose

The purpose of this paper is to review the importance of mass shared beliefs in shaping economies, markets, nations, and business strategies.

Design/methodology/approach

The paper takes the form of an opinion column.

Findings

The paper reveals that it is important to factor in the malleability of mass psychology, and its changeability, when making strategy for your organization. Multiple, seemingly inconsistent scenarios may actually all “come true” in series.

Originality/value

The paper connects a number of ideas in psychology, economics, strategy, medicine, and philosophy.

Citation

Marren, P. (2010), "Profitably shared delusions", Journal of Business Strategy, Vol. 31 No. 6, pp. 49-51. https://doi.org/10.1108/02756661011089080