A review of the collective unconscious and its archetypes based on Carl Jung's theories and empirical case studies that highlights and assesses
Table of Contents
Acknowledgments ix
Introduction 1
CHAPTER 1 Psychology: A Primer 7
Some Key Psychological Concepts 9
The Unconscious 13
Conclusion 21
Notes 22
References 24
CHAPTER 2 Archetypes and Symbols 27
Carl Gustav Jung 27
Archetypes: A Background 31
Why Do Archetypes Activate? 40
Symbols: The Tangible Manifestations of Archetypes 45
Conclusion 50
Notes 50
References 52
CHAPTER 3 How Archetypes Influence and Impact Behaviour 55
Characteristics of the Activation of an Archetype 55
Projections and Other Defense Mechanisms 56
The Role of Scapegoats 58
Shadow Projections 58
Zeitgeist 59
Mass Hysteria and Panics 62
Conclusion 65
Notes 65
References 66
CHAPTER 4 Archetypal Influences in the Financial Markets 67
Financial Bubbles 67
Animal Spirits 71
An Archetypal Perspective on the Development of Financial Bubbles 74
Conclusion 77
Notes 77
References 78
CHAPTER 5 Existing Approaches to Capture Sentiments in Financial Markets, and Why They Do Not Work 81
Behavioural Finance 82
Technical Analysis 83
Efficient Market Hypothesis 84
Black Swans 86
Social Mood 87
Emotion Words 89
Conclusion 89
Notes 90
References 91
CHAPTER 6 Developing a Conceptual Measurement Methodology Based on Archetypal Forces, Part I: Building Blocks 93
Linking Symbols to Archetypes 96
Capturing Symbols 98
Conclusion 107
Notes 108
References 109
CHAPTER 7 Developing a Conceptual Measurement Methodology Based on Archetypal Forces, Part II: The Data 111
Data Sources 112
Capture and Cleansing 114
Relativisation of Symbol Words 119
Two Article Examples 120
Conclusion 128
Notes 128
References 129
CHAPTER 8 Developing a Conceptual Measurement Methodology Based on Archetypal Forces, Part III: The Model 131
Signal Theory 133
Correlation Testing 136
Testing the Time Series against Known Cycles 138
Constructing Archetypal Composite Indexes 138
Backtesting and Calibration 141
Conclusion 142
Notes 143
References 143
CHAPTER 9 Examples of Archetypal Influences on the Formation of Financial Bubbles 145
The Dot-Com Bubble 148
The US Property Bubble 155
Conclusion 159
Notes 160
References 161
CHAPTER 10 Conclusion 163
How Archetypes Play Out 164
Areas for Further Research 165
Time Constants 166
Multiple Archetypes 166
Tipping Points 167
Subliminal Stimulation 168
Archetypal Influences in Other Areas 169
Archetypal Influences in Other Cultures and Languages 170
Are the Collective Unconscious and Its Archetypes Constraining Free Will? 171
Influences on Finance 172
About the Author 175
Index 177
