Description of The Wave Principle of Human Social Behavior and the New Science of Socionomics
What drives our social mood? Our actions? Our motivations? Can we look into the make-up of the universe and apply it to who we are and what we do? The answers to these questions are to be found in the new science of socionomics.
Socionomics evolved from the Wave Principle, a theory of patterns in financial markets. Now Robert Prechter proposes that this very same principle can be applied to our own social and cultural lives. Prechter shows that dominant aspects of our unconscious mentation are characterized by measurable patterns. Those patterns form the building blocks of humankind's social interaction, and in turn, the Wave Principle.
The social sciences today are where the physical sciences were three hundred years ago: on the verge of a revolution. Ralph Nelson Elliott discovered that social mood, impelled by an unconscious herding impulse, fluctuates in a recognizable pattern reflecting a natural growth principle, which he called the Wave Principle. Socionomics is the study of these patterns and their effects, i.e., social action and the events of history. Because it has a mathematical base, the Wave Principle is to sociology what Newton’s laws were to physics. It provides a basis and framework within which to study and quantify social behavior and thus serves as an anchor for the undertaking of true social science.
"It's a masterpiece of intelligence and ingenuity. I think socionomics-grounded thinking will take the reader over a whole new conceptual threshold in understanding how human sociological and psychological processes are embedded in the behavior of large-scale cultural and natural phenomena."
Larry R. Vandervert, Ph.D.
American Nonlinear Systems
"I've just read Prechter's "The Wave Principle of Human Social Behavior." It's great! I'm sorry I didn't come across it sooner."
Flavia Cymbalista, Ph.D.
Berkeley, CA
"This is the most thought provoking book I have read in the last five years. If you are a student of the markets or politics, it’s a must read."
Mark Sanford
Member of U.S. Congress
"Mr. Prechter has raised some tantalizing possibilities toward the goal of providing a theoretical framework for the Elliott Wave Principle. In particular, the discussion relating Fibonacci and Elliott wave theory to fractals and chaos theory is both fascinating and persuasive."
Scott Winningham, Ph.D.
Stone & McCarthy Research Associates
"I found the book exciting, provocative, and full of fresh ideas. If and when the new age dawns...we will look at Robert Prechter as a visionary."
Jerome A. Kroth, Ph.D.
Associate Professor of Counseling Psychology
Santa Clara University
"I thoroughly enjoyed The Wave Principle of Human Social Behavior and The New Science of Socionomics. The author’s attempt to tie together the various aspects of human social activities was both fascinating and useful."
Philip J. Roth, CMT
Principal Chief Technical Market Analyst
Morgan Stanley Dean Witter
"What a WORK! You have certainly added to our "body of knowledge" and I commend you for sharing your intellect and labors for posterity."
Sam Hale, CMT
Senior Technical Analyst
A. G. Edwards & Sons, Inc.
"It weaves the two helixes of psychology (popular valuation) and growth (man's total production) into a single strand. Over the years, you've applied the Wave Principle both as a guide to the psychology of the marketplace and as a description of economic growth. Here they are unified."
John Carder, CMT
Topline Investment Graphics
"With The Wave Principle of Human Social Behavior and the New Science of Socionomics, Prechter has moved to a higher level on Elliott's work."
"There is a different Bob Prechter coming through this book. You have graduated to a higher level of intellectual pursuit and research."
George Schade
Market Technicians Association Member
"Prechter gives a new dimension and understanding to not only the Elliott wave technique, but to all forms of human activity. This is cutting edge stuff, certain to make you rethink much of what you think you know." Larry Williams
Commodity Timing "Kudos! Fabulous book."
Jake Bernstein
President, MBH Commodity Advisors
"This is the most interesting piece of work I've read, truth or fiction, since Elliott Wave Principle and At the Crest of the Tidal Wave. It occurs to me that maybe the Wave Principle will be some type of unifying principle for the sciences."
John Echols
Assistant Professor of Research
Basin Research Institute
"Mr. Prechter is not only taking the wave theory but the entire theory of financial forecasting one step further."
Tom Rehberger
Systems Division Manager
Professional Market Brokerage
"Have just finished the book - amazing. This is truly a masterwork."
Art Merrill
Merrill Analysis Inc.
"I have read your book, Human Social Behavior, and it was spectacular. I was absolutely impressed, a most brilliant work — it mirrors my own thinking."
D.J.
Marco Island, FL
"Wonderful book, by the way — one of a half dozen I've read in my life that have re-shaped my thinking in a fundamental and profound way. Thank you.
D.C.
Dallas
"I have slowly read your new book, Socionomics. It is wonderfully well researched, and carries your customary élan in its writing. As the phrase goes, 'the proof of the pudding is in the eating' (or something like that) so if we do get the Elliott down wave we are expecting, your book will be a triumph even to the littlest bears, as well as over the ruthless fighting bulls such as Merrill, et al."
A.C.
Australia
"I am really enjoying your book! Thank you from a long time fan and subscriber."
D.V.
"If you are interested in these ideas, the best stuff out on this is Robert Prechter's book, Socionomics and various essays he has written over the past year at Elliott Wave International in Gainesville, GA.
One Economics PhD reviewer up in Canada commented that after he read the book he considered it the most important thing he had ever read.
Prechter has a radically different view of cause and effect relative to the stock market and believes that investor mass psychology not only drives the markets, but creates the news, is wavelike and is predictable IN ADVANCE. It's fascinating stuff, well worth the investment of time and very readable. It's very thought provoking and would give you grist for several columns and a book review."
Stephen Lange Ranzini
Ann Arbor, MI
"It takes guts to let nature speak for herself. Now, with much thanks to advances in physics, neurobiology and evolutionary psychology, you have formally launched an ambitious new science of sociology. This is exciting stuff. I hope some science reviewer from The New York Times devotes an article to this first text on socionomics."
John W. Gross
"Another amazing tome of wisdom — The Wave Principle of Human Social Behavior and the New Science of Socionomics. (Wonderful read, and I did not, as some reviewers proffered, find the final chapters to be 'stretching it a bit!') As someone who is extremely interested in how the brain works and why we 'do what we do', as 'rational' human beings, I found the discussion in chapter 8 of the triune brain extremely compelling. It reminded me of much of the work on brain function that was presented by Antonio Damasio in Descartes' Error. Keep up the great work and thank you for opening another door into our minds!."
DH
"You are an original thinker, and you have one of the finest writing styles of anyone I've ever read. You do for socionomics and financial analysis what Joe Sobran does for political and moral commentary, and he's simply the best I've ever read. You're in that group too."
DI
Socionomics is to the economics profession as a hurricane is to a mansion on a bluff overlooking the ocean. That is, it is just a matter of time. May you live log enough to see it; at least to see it begin.
D.H.
After reviewing the chapters of your latest book, several times, I am greatly impressed. You have eloquently articulated what many have been debating for years - there is something that drives individuals, society, and the universe. Wave counts containing fractals and Fibonacci may well be one way to 'read' and prepare for, our future.
K.M.
The book is beautiful and I particularly like your chapters in parts III-V on the herding behavior and the social moods.
D.S.
I thought that was WOW stuff that you presented (on Socionomics topic at IFTA conference)....I think what you are doing is the most creative work that I have seen in my career on Wall Street....It appears you are just scratching the surface on examining human behavior using technical tools. Regards,
J.G.
"Your Wave Principle of Human Social Behavior is more than just fascinating, more than just stimulating; it is a treasure trove of ideas. I must also congratulate your attempt to structure the Wave Principle with definitions and on your exploratory mindset. It is most stimulating and refreshing to read someone who is truly excited about what he does know, but at the same time is not afraid to admit and then speculate about what he has yet to know."
T.E., Wallingford, PA.
"I have slowly read your new book, Socionomics. It is wonderfully well researched, and carries your customary élan in its writing. As the phrase goes, "the proof of the pudding is in the eating" (or something like that) so if we do get the Elliott down wave we are expecting, your book will be a triumph even to the littlest bears, as well as over the ruthless fighting bulls such as Merrill, et al."
A.C., Australia
“A few months ago a friend of mine showed me some of your papers and reports. I have ordered and read your latest book on Socionomics, and I was fascinated and impressed by your findings.”
W.K. Germany
"Bob, I think you have hit on why mainstream or contemporary economics is not just irrelevant but intellectually void."
Robert R. Prechter, Jr. has achieved worldwide fame as an author, investment analyst, businessman and social commentator. In 1978, he co-authored with A.J. Frost Elliott Wave Principle: Key to Market Behavior. The book sold more than 300,000 copies and became a Wall Street Best Seller. Three other books have followed, all of them achieving similar success. In addition to his books, he is the editor of the Elliott Wave Theorist, an award-winning newsletter that has enjoyed immense popularity in its 20 years of publication. In 1984, Prechter disproved any doubters that the Elliott Wave Principle was a window to financial opportunity when he set an all-time record in the United States Trading Championship. Using the Wave Principle as his only method of analysis, he returned 444.4% in a monitored, real-money options account in the four-month contest period. His success did not go unnoticed, and in December 1989, Financial News Network named him, “Guru of the Decade.” A flood of radio, television, and written interviews followed, including the cover of Time Magazine and Fortune. On the heels of this success, he founded Elliott Wave International, a successful technical investment analysis company located near Atlanta, Ga. Now, after years researching and studying the psychology and science behind the Wave Principle, Prechter delves deeper than ever before into the reasons for its existence and its universal implications. In his most recent book, The Wave Principle of Human Social Behavior he formulates his theories into a new branch of science he calls “socionomics.” The book is being hailed as a tremendous success by both general readers and academic scholars.
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