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    Behavioral Finance & Money Psychology

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    The News By The NewsMay 7, 2025No Comments1 Min Read
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    A World of Unintended Consequences

    Here’s a story about a revolution that never happened. Nearly 90 years ago, a 26-year-old newly credentialed Harvard sociology PhD and future American Philosophical Society member, Robert K. Merton, published a paper in the American Sociological Review that would become one of the most frequently cited in his discipline: “The Unanticipated Consequences of Purposive Social Action.” While the language of the paper was modest, it offered an obvious but revolutionary insight: many or most phenomena in the social world are unintended – for better or worse. Today, even management gurus like Tom Peters acknowledge that, “Unintended consequences outnumber intended consequences. ….[READ]


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