Cognitive Approaches in Psychology

In this essay I will outline two approaches in psychology, compare and contrast them as well discussing the nature and nurture debate regarding both approaches. I will be examining a theorist from each approach outlining and evaluating his theory including the positive alltributes along with the negative. Finally I will include a therapy from each theorist and approach. The Behaviourist approach focuses on the concept of explaining behaviour by observation, and the belief that our environment is what causes us to behave differently and suffer illnesses.The Behaviourist approach believes that behaviour is influenced by each and every individuals experiences. This could include their background, social and home living circumstances. Behaviourist psychologists argue that when we are born our mind is ‘tabula rasa’ meaning a blank state and that events taking place in our life time can affect and change the way we behave. Behaviour is the the result of stimulus response, i. e all behaviour no matter how complex can be reduced to a simple stimulus response. All behaviour is learnt from the environment.We learn new behaviour through classical and operant conditioning. Classical conditioning is stimulus- response. If a stimulus that results in a emotional response is repeated along with another stimulus which does not cause an emotional response, then eventually the second stimulus will result in the same emotional response. Classical conditioning is therefore learning by association. Some assumptions are made on the behaviourism approach, for example one assumption made is that there is no mind or body dualism and that everything we do is because of behaviour and not because of the mind.A second assumption would be that discovering a stimuli that causes behaviour associations between stimlulus and response will allow us to predict and control behaviour. They also viewed learning as a change of behaviour due to experience. However some critics object again st the behaviourist view that behaviour is determined by our enviromnets as psychologist Garrett (1996) suggested that ‘†¦ behaviour is now shaped by what goes on inside their heads†¦ and not simply by what goes on in the external environment’ (p. 19) Operant conditioning is a method of learning that occurs through rewards and punishments for behaviour.Through operant conditioning, an association can be made between a certain behaviour and a consequence for that behaviour. For example if a good thing is presented and a certain behaviour is encouraged then the behaviour will increase, this is called positive reinforement. However if the good thing is taken away then the behaviour will decrease. For example is a dog is told to fetch the ball and every time it fetches the ball it gets rewarded with a treat. This would influence the dogs behaviour to always fetch the ball as it will be rewarded.Another key feature of the behaviourist approach is the social learnin g theory. The social learning theory focuses on the learning that occurs within a social context. It considers that people learn from one another including such concepts as observational learning, imitation, and modeling. It says that people can learn by observing the behaviour of others and the outcomes of their behaviour. The cognitive approach deals with metal processes or cognitions. These mental processes include memory, thinking and perceptions. Cognition means â€Å"knowing†.Therefore cognition is the mental act or process by which knowledge is acquired. Cognitive psychology has been influenced by the developments in computer science and comparisons have often been made between how a cumputer works and we process information. The main focus of the cognitive approach is how information received from our senses is processed by the brain and how this processing affect how we behave. Cognitive processes show examples of hypothetical constructs. This means that we can not d irectly analyse processes such as thinking but we can dissect what a person is thinking based on how they act.Cognitive psychologists use laboratory experiments to study behaviour. This is because the cognitive approach is a scientific one. These experiments would involve participants taking part in memory tests in strictly controlled conditions. An assumption made about the cognitive approach is that there exists a circular relationship between learning, meaning and memory. The basis for cognitive theories follows this patern in which what is learned is affected by its meaningfulness, the meaning is determined by what is remebered and the memory is affected by what we learn.The cognitive approach places itself in direct opposition to the behaviourist approach which mostly ignores mental processes. The cognitive approach is internal whereas the behaviourist is external as it focuses on the human environment. The cognitive approach examines behaviour which is directed through the min d rather then the body. It studys the thought processes, memory, language, perception and decision making. Whereas the Behaviourist approach examines our behaviour by our responses to our surroundings and the events taking place around us which may influence us to act in a certain way through imitation.It assumes that we learn things by associating certain events with certain consequences and that we will behave in the way that achieves the most desirable consequences. There are many methods in which the cognitive approach examine. Such as the holistic method which is a view that all aspects of people’s needs such as the psychological, physical and social should be taken into account and seen as a whole. The nature and nurture debate is one of the longest running debates in the area of psychology in which theorists have various different views and opinions.Nurture is the view that everything we learn is through interaction with our surrounding environment, this could include with people, family and mass media. Some assumptions of this approach would be that the nurture theory did not discount that genetics exist but argues that they simply made no difference to how we behave and act. Studies on children temperament showed the most crucial evidence for the nurture theory. Another would be that the nurture argument is most represented by the behaviourist approach as behaviourists believe that all behaviour is the outcome of learning through conditioning.The nature theory focuses on the heredity and specific genes which can determine passing on of traits such as eye colour and skin colour. The nature theory would suggest that even personality, intelligence and aggression is also encoded in our DNA. Some assumptions of this approach would be that behaviour is innate, conditions such a schizophrenia show genetic links and a large amount of research shows that there is a link between hormones and aggression. Behaviourism follows the nurture approach as it stu dies that we learn from our environment, hence making this approach nurturist.It believes that our behaviour is influenced by our surroundings. Watson- the father of behaviourism quoted: ‘Give me a dozen healthy infants and my own specified world to bring them up in and I will garantee to take anyone at random and train him to become any kind of specialist I might select: doctor, lawyer, artist, merchant chef and yes beggar and thief, regardless of his talents, penchants, tenancies, abilities, vocations and race of his ancestors. ’ Watson is clearly stating that he could change any person from any different social background and race if he could bring them up in his own way.His statement strongly argues the nurture side of the debate. He argued that human behaviour could be conditioned depending on their surroundings. On the other hand the Cognitive approach is an interaction between the two nature and nurture. As much as it focuses on reactions of the senses to the bra in and the mind which make it nature it also has many nurture altributes also. The cognitive psychologist would recognise that experience and the environment also contribute and shape these innate abilities. Piaget’s therory backed this up as he believed that humans use their experiences to construct new understandings.He agreed that both nature and nurture are important, humans move through universal stages due to maturation however the rate they mature in depends on experience. He said that people are, by nature active contributors to their own development. Piaget’s argued that both nature and nurture interact to produce cognitive development. He said that the nature side helps the maturation of the brain and the body, along with the ability to percieve and learn. Whereas the nurture helps with the adaptation of children and how they respond to their enviroment. Bandura was a behaviourist theorist.He believed that there are three sources of models which influenced hu mans behaviour, these included the family, the mass media and the sub-culture. He conducted a number of experiments in which he carried out on children. One of his experiments involved an inflatable Bobo doll, his aim was to investigate the effects of observing aggression in an adult model. The procedure of this experiment was for it to take place in a playroom containing a range of toys. Young children watched an adult attacking a large inflatable Bobo doll by hitting it with a hammer and saying ‘pow’!Once the adult left the playroom, the behaviour of the children was then observed. A control group of children who did not see the adult attack the doll were also observed in the playroom. The results showed that the children who had seen the adult attack the doll also attacked the doll in similar ways. However the children who had not seen the adult attack the doll did not. The conclusion to this was that children learned particular behaviours towards the Bobo doll throu gh observational learning and then copied the behaviour when given a chance.Two years later he conducted a similar experiment however this time it was to observe the effects on modelling by children of seeing a model reinforced or punished for a behaviour. This experiment, like the previous involved a bunch of children watching and adult kick and attack a Bobo doll but this time get rewarded for it. Another set of children watched the same thing however saw the adult get punished for it. The children in the group that saw the model being punished were later offered a reward if they could reproduce the behaviour they had observed.The results showed that the children in the group that saw the model get punished for the attack were less likely to imitate that behaviour. This experiment concluded that observation is enough for behaviour to be learned, however reinforcement is necessary for the behaviour to be modelled. The values of Bandura’s social learning theory were that it e xtended the operant conditioning theory. It focused on the idea of the influence of the social environment in behaviour therefore providing an explanation for cultural and individual differences.It could account for individual differences and allowed for more complex human behaviour. Bandura’s theory had a role to play in personality theory and introduces the idea of vicarious learning. Although the criticisms are that his theories are reductionist, environmental and determinism. Reductionist ways of explaining behaviour often examine one single cause ignoring other explanations. Reductionism attempts to understand and describe the human behaviour in terms of simple components or units. Any explanation of behaviour at its simplest can be described as reductionist.This approach reduces a complex behaviour to a simple set of variables which offer the possibilities of identifying a cause and effect. The reductionist approach is therefor a from of determinism. Determinists believ e that it is possible to predict behaviour by identifying the cause of behaviour. His theories were also criticised as being environmental, meaning that the environment that he uses in his experiments can affect the human behaviour. The use of violence towards a doll in his experiments were not ethical as he only used children.It was also sociably incorrect as it was influencing violence to receive a reward. The biological influences are ignored, lack cohesiveness and still excludes influences such as emotions. Jean piaget was a psychologist who studied the development of children’s understanding and how their minds work. His theory on how the children’s mind works and develops has been hugely influential, specially in educational theory. Piaget was particularly interested in the way in which a child’s mind matures in the different developmental stages and how their maturing increases their capacity to understand their world.His theory was that all infants have the same structures and they all have innate reflexes and schemas. He believed that children cannot undertake certain tasks until they are psychologically mature enough to do so. He thought that childrens thinking develop at different stages, and that at certain points the mind would mature into different capabilities such as the first transition taking place at 18 months, then at the age of 7 and 11 or 12. He meant that before these ages children could not have a capable understanding of certain things in certain ways.The stages which took place according to this theory were firstly the sensorimotor stage which takes place between birth and two years. At this stage the child can identify itself and acts as an agent of action purposely banging on pots and pans to make noises to hear the reaction. The child can differentiate self from objects and learns object permanence realising that objects still do exist even if they are not in sight. The second stage is the pre-operational stage . This is the stage in which the child learns to use language and images to identify objects.However their thinking is still egocentric indicating that they cannot see things from another persons point of view. This stage usually takes place from the age of two till seven. The third stage is called the concrete operational stage, this takes place between the ages of seven and eleven. The final stage is called the formal operational stage, at this stage children start to think about the future and ideological problems. The child’s cognitive structure is more like that of an adults and includes conceptual reasoning. His theory was successful in the fact that they used his theory as a basis for scheduling in the school curriculum.His theory has a huge influence on the understanding of cognitive development and it was the first comprehensive theory of children’s cognitive development. His theory also challenged the traditional idea of the child being passive in development , also as his theory was scientifically based this made it come across as more accurate. However his theory has received some criticism, some critics challenged some of his developmental stages such as the sensorimotor stage and the pre-operational stage. Gelman questioned what Piaget viewed about children as young as four not being able to take on another persons point of view.Gelman believed that it was possible for children to do so. Behaviour therapy refers to techniques based on classical conditioning. This therapy consists of using learning principles to change maladaptive behaviour. There are a number of various behaviour therapies including systematic desensitisation. This therapy is a form of counter conditioning using a hierarchy of fear. One example could be to remove a phobia of animals. The patient is taught how to relax so that relaxation and fear cancel each other out, to do this hypnosis or tranquillisers may be used.It is believed that it is impossible for a person to experience two opposite emotions at the same time. The systematic part of the therapy involves a recorded series of contacts with the object of the phobia. Whilst relaxing a least frightening image of the object is introduced to the patient until this can be done without the patient having any feelings of anxiety. Some of the therapies based on classical conditioning are effective, such as the systematic desensitisation therapy. However it is mostly effective only for anxiety disorders and addictions. They are more effective in phobias than in psychotic disorders.An advantage is that the therapies are relatively quick and only take a few months to work as oppose to psychodynamic treatment which can take years. There is also a high success rate, McGrath found that systematic desensistisation to be effective for around 75% of people with phobias. In the case of single sessions success, if conducted in one session it is proved that 90% of patients with phobias made vast improvements and some were even fully recovered. Systematic desennsitisation helped treat one of the most difficult phobias to treat called agoraphobia, this therapy however helped between 60-80% of cases.Critics of these therapies would suggest that many patients with phobias may have no recollection of bad experiences with the object and simply just have a phobia, therefore the therapies would not be effective and solve the problem. Psychodynamic theorists would say this is due to the symptom being a sign that something unconscious is wrong with the patient. Another disadvantage is the unpredictable effects that the therapy can have on the patient such as heart attacks and hyperventilating. The cognitive approach has many therapies to explain and modify behaviour.Cognitive forms of therapy include the Ellis rational therapy, which is now more commonly known as rational emotive behaviour therapy. Ellis came to conclusions about patients negative thoughts and their tendencies to catastrophise s ituations making things seem so much worse then they actually are. This therapy focuses on when irrational thoughts are seen as the main cause of all types of emotional distress and behaviour orders. The aim of this therapy is to exchange the irrational unreasonable with the more positive and realistic beliefs and ways of thinking. Patients are encouraged to ‘look on the bright side’.Ellis identified patients irrational beliefs and ideas which are emotionally self defeating and are mostly associated with psychological problems such as negative thoughts and feelings about ones self. Patients are told to practice certain positive statements like â€Å" I can do† rather then â€Å" I can’t do† to help them create a more positive state of mind. The benefits of using such therapies are that it is a structured therapy with outcomes which are achievable, these methods are becoming more commonly used as they are short term and are cost effective aswell as e conomically effective.This therapy is appealing towards patients who find insight therapies which look deep into their inner emotions and problems seem less threatening and intimidating. Although there are disadvantages of this therapy. It may not uncover the problem completely, however it does almost try to empower patients to help themselves with their issues and feel better. It also may not work well for adults who are not willing to take part and collaborate with the therapist to achieve a new way of thinking. It may also not be successful for those who feel that they can’t achieve self happiness without something or someone else contributing towards it.This therapy is mostly successful for clients suffering from anxiety disorders, stress management and sexual problems. Studies have shown that this therapy is more effective in depression than drugs are and the relapse rate is proved to be lower with cognitive behavioural therapy. This from of therapy has been proved to be more effective then anti depressants. In conclusion, I have included all the points mentioned in the introduction that I said I would include in my essay, I have outlined and evaluated two approaches and discussed two theorists and therapies for each approach.

Psoriasis Research Paper Example | Topics and Well Written Essays - 4750 words

Psoriasis - Research Paper Example Thus, acceptance of the situation is an indispensable ingredient to maximize the clients’ adherence to any therapy. In this paper, the efficacy of the available treatment options for psoriasis will be comprehensively examined including the social issues affixed and outlook of the situation. In doing this, an overview of the disorder comprising the causes, risks, and pathophysiology will be briefly discussed. The cure for psoriasis has been a lifetime dream for dermatologists and affected clients. The quality of life of clients afflicted with psoriasis suffers greatly within 5 to 10 years after onset. Although it is not transmissible to other people, the appearance of the lesions affects the clients' social functioning (Winterfield et al, 2005). Traditional therapeutic regimens are continuously challenged by more recent discoveries in biochemistry and immunologic medicine. Some forms of treatment, like phototherapy and topical therapy, are used as a combination therapy rather t han used alone. In any case, minor and major adverse effects manifest themselves that limit the clients’ adherence to the prescribed therapy. Presently, medical practitioners continue to discover potential treatment options that would precipitate fewer side- effects. As the genetic correlation and immunologic alteration of the disorder are being studied, the use of biologic agents and gene therapy may become one of the treatment options in the future. Several scientists are becoming more and more aggressive in the treatment by using monoclonal antibodies purposely altered to suppress cell division of target cells (Winterfield et al, 2005). Pathophysiology The exact triggering mechanism involved in psoriasis consists of the dynamic interplay of individual factors and environment (Kumar et al, 2010). Although genetic predisposition to the condition has been recognized in some cases, the incidence of psoriasis remains relatively similar even in clients without a traceable family history. Moreover, the role of the environment as a risk factor can be seen in some clients when psoriatic lesions occur at areas with a history of skin injury, sunburn, and excoriation. Warm climates also appear to improve the condition (Ignatavicius and Workman, 2010). In addition, the immunologic causation of the condition can be observed in some clients who also developed debilitating arthritis. Because of this, psoriasis can be viewed as a systemic connective tissue disorder rather than a simple skin condition (McPhee et al, 2006). While it has been generally established that the onset of the condition occurs by 20 years of age, the condition may also manifest in older people at 57 to 60 years of age. Psoriasis is very common and affects nearly 1% to 2% of the population (Huether and McCance, 2006). The pathophysiologic basis of psoriasis highlights the involvement of an abnormality in the immune reaction in the skin which results from the overstimulation of the immune system (Kumar et al, 2010). Langerhans cells in the skin react with an unknown antigen, leading to T- lymphocyte activation which then attacks the keratinocytes. The resulting dermal inflammation causes scaling (McPhee et al, 2006). Normally, the cells in the basement membrane of the epidermis reach the outermost layer for about 27 days, while it only takes 4 to 5 days in the case of psoriasis. Cell maturation and keratinization are bypassed, thus the epidermis thickens and plaques form. Loosely cohesive keratin

The Political Economy of European Integration Essay

The Political Economy of European Integration - Essay Example To start with, we must define the objective that has spurred the nature of economic integration. The primary objective of having or creating a (regional) economic integration is for the said union to form an agreement among its member countries to reduce and remove tariff and non-tariff trade barriers to the free flow of goods, services, and factors of production (i.e. labor, capital and entrepreneur); and also, to attempt to achieve economic gains from the free flow of trade and investment between its neighboring countries. The EU as an organization is comprised of independent European countries whose sole, main objectives are economic and social progress for the European region and its people. That is why they have long-planned on engineering an economic integration program in an attempt to converge all the European regions in order to meet and implement the objectives of the formed union so as to provide a much better living and working environment for its people - the Europeans (Going for Growth, 2003). Economic integration for Europe has definitely brought convergence to this continental region. Since its foundation, the EU had gone through three legal stages for it to achieve its economic objectives, these stages were: the creation of the customs union, 1958-1985, the single market 1985-1992, and the economic and monetary union 1992-present (Hitiris, 2003). Initially, as a customs union, it removed different barriers in trading between member countries of the EC and adopted a common external trade policy in which individual state governments no longer has to determine or make their own external trade policy anymore. Then the Single European Act or the single market implemented in 1987 allowed factors of production particularly labour, capital, and entrepreneurs to move freely from one member country to another. And after a few years, the EU started to launch its full economic objectives by implementing the economic and monetary union policy to its region; through this, it paved the way to the removal of the remaining obstacle to cross border investments. And also, one of the most highlighted criterions made in this final treaty was granting the citizenship of the union - everyone with a nationality of any member country becomes an automatic citizen of the union, giving its people all the rights to move and reside freely among the union' s member countries. With all of these mentioned and guided by the democratic principles of the union, the EU has definitely succeeded in converging its member countries into becoming a prosperous European economic region of the twenty-first century that is continuously grow year by year in terms of economic figures and admitting more and more European countries into the union; and currently, is even ranking second in the growth of world economies next to the United States and preceding Japan. However, it is also important to take stock of the fact that the success or failure of an economic integration depends primarily on its objectives. Therefore, a previously independent country participating in an economic union - converging its economy to other member countries by sacrificing a part of its national sovereignty can only be justified if the union is able to achieve its

Callable Bonds Term Paper Example | Topics and Well Written Essays - 3000 words

Callable Bonds - Term Paper Example There are different reasons as to why companies issue callable bonds, as noted by Frykman and Tolleryd, one of the reasons as to why companies issue callable bonds is because of their hedge interest rate (173). The point is that, the moment interest rates reduce, the issuing companies can then repay the bonds at lower interest rates. This paper aims at examining callable bonds. Overview As explained by Le callable bonds allows those borrowing the option of re-investing if the interest rates reduces (4). This implies that companies are able to hedge against likely reduction of interest rates in future. It is because of this aspect tha makes callable bonds to be prefered by many investors particularly before 1990s. In deed, before 1970, nearly all companies issued bonds that had were callable. But, as from 1970 to 1990, callable bonds being issued reduced to about 80%. This was attributed to developents that had taken place within the interest rate derivaive markets over that period. P resently, the number of callable bonds on the market has greatly reduced accounting for less than 30%. According to Le the reason for this reduction is the fact that, it has become easier for companies to hedge against the interest rate risks (4). Explaining callable bonds When a company issues a bond, it has to make a critical decision regarding the type of bond it will issue, if it will be a callable bond or a regular one. In defining a callable bond Brigham and Houston states that callable bond, also known as redeemable bond is a kind of bond that permits the issuing firm to retain the benefit of trading in the bond at a certain time before the maturity date (220). This implies that the issuing firm retains the right of buying back the callable bond, though it is not obligated to do that. Basically, the bonds are not in actual sense bought back by the issuing firm; rather the firm cancels them immediately. When recalling the callable bonds, the issuing firm has to pay more than t he par price. In some cases, for example in high-yield debt industry, the call premium could be considerable high. Therefore, the issuing firm has a choice, of either paying a higher premium or waiting until the bonds mature. Brigham and Houston notes that supposing the interest rates prevailing in the market go down at the time of calling back the bonds, then the issuing company will be in a position to refinance its debt cheaply (220). Accordingly, as the interest rates reduce, the value of the bonds increases, thus, it is beneficial to re-buy the bonds at their par value. When callable bonds are used, the investors are given the advantage of a higher token or value, as opposed to what they have gained with regular bonds. However, when the interest rates reduce, the issuing firms will likely recall the bonds and just invest them at interest rate is low. The moment a company has recalled the bond, the company can as well reissue the similar bonds at a much lower interest rate. This process of reissuing bonds to save money on the interest payment is referred as refunding. Brigham and Houston notes that before the bonds are recalled, the bond holders are informed by a letter, one of the agreements when investing in a callable bond (221), is that the investors agree that the bonds can be bought back and the investors should be ready to sell the bonds. However, companies recalling the bonds

Effect of e-readers on the publishing industry Assignment

Effect of e-readers on the publishing industry - Assignment Example ed that social exchange theory is taking place on an international level as the humanity has learned the art and science of communicating across cultures and borders. The internationalization of communication and socialization is identified as essence of the notion known as global village (Graham 1998). In recent years, leading technological companies have launched devices that have been blessed with the capability of helping people in accessing and downloading books and other kinds of literature. The old fashion and traditional practice of reading books in a printed format is ending. Major number of publications is being provided to public in an electronic format while the most used format is called Portable Document Format (PDF). The conventional method of providing printing books got very expensive and therefore, the major publishing companies such as McGraw Hill initiated to provide publications in an electronic format. The basic and fundamental purpose of using electronic devices as sources of accessing literature is to drive down the production costs whereas, the end readers are also provided with significant level of cost advantages. In summary, it can be urged and argued that availability and cost of printed information has notably increased and decreased respectively (Pan & Leidner 2003). The current period, the customers and common peoples information has considerably risen and therefore, companies and governments are facing problems in justifying their filthy practices from public. The publishing companies are offering books and research journals in e-format and they provide printed copies on special request only. The supporters of high involvement of technology in knowledge management argue that human mind is well accustomed to understanding materials in print format. They also suggest that human sensory centers are experiencing growing and noticeable level of stress because of focusing on screens. But, these potential disadvantages will subside as

Money and banking Essay Example | Topics and Well Written Essays - 500 words - 2

Money and banking - Essay Example Jefferson argues that since no mention of any mandate was present, Congress had no such right. Hamilton dismissed Jefferson’s arguments by citing that Congress has â€Å"necessary and proper powers† to implement the nation’s fiscal and monetary policy. He added that a central bank fits perfectly into this scheme, by making it easier for Congress to do the job. If there were one central bank coordinating all banks, Congress could easily hold one accountable. Eventually, Hamilton’s arguments won, and this would set the practice of establishing central banks for the years to come, beginning with the First Bank of the United States of America. (Johnson 7) This should be viewed actually as the triumph of the power of money over democracy. Money could be represented by paper marked by the government as legal tender. In itself, it is harmless to democracy. But left to the hands of unscrupulous individuals and bankers, money can be used to damage democracy as can be seen in the succeeding events. During the term of James Madison, the bill seeking to renew the First Bank’s Charter was defeated by a narrow margin. Madison liked the outcome, but chaos ensued. The War of 1812 made the US Government to focus its effort in surviving against England. As a result, state-chartered banks began issuing different fiat currencies with little value. Proponents of central banking then blamed Madison for such troubles. Near the end of his term, Madison was forced to sign the charter of the Second Bank of America, as this was the popular clamor of Representatives. (Johnson 9) Thus, although there were hopes that democracy will prevail over the system of credit, central banking won. This episode illustrates clearly the fact that because of money, efforts to implement what is good for the general public can be undermined. Fast forward to 1907,

The Money Game Book Report Essay Example | Topics and Well Written Essays - 2500 words

The Money Game Book Report - Essay Example I began considering to have a â€Å"budget† and decided to put off some planned but unnecessary purchases. I just opened a savings account with a passbook dedicated for future investment. The course affected me and I would like to answer the questions below with how I understood the subject except on some occasions that it will be best for understanding to lift something from the book. I believe it will best serve the purpose of this course to use my own words as much as possible and also for my better understanding, to conceptualize my answers as I understood it. B. Questions for Book Report 1. Why is the book called â€Å"The Money Game?† The book is called â€Å"The Money Game† because it teaches us to understand the dynamics of how to secure our future from a pragmatist perspective. When I said, pragmatist, it tackles the subject not merely from academic point view, but on its real life application. Moreso, when it also presented the perspective of the both s ides of the coin, the Wall Street view and the Main Street with the author being partial on us the consumers on how we could avoid the financial pitfalls and better secure our future by giving us a hindsight about the other side of the fence. The author has no pretension about the reality on how we should go about in handling our finances, especially in dealing with financial institutions inorder to be financially secured. In fact, a game plan was introduced called Big Dog Playbook II which details the play on we can better our financial position and get rid of debts. 2. Why do many Americans die before they ever have a chance to live? Many Americans die before they ever have a chance to live because they work all their lives and never had the chance to enjoy it. This is because of wrong mindset and priorities and being unprepared for the financial uncertainties and old age. During the most productive part of their lives, they worked so hard to acquire the â€Å"bling-blings† or facade of success and thus raising the standard of their lives but not the actual quality of their lives. They are so mired with work that they did not notice how good the â€Å"rose smell†. As they acquire, they fall to the trap of indulgence, living for today (and more often than not, beyond their means) and not preparing for tomorrow. Such that when financial uncertainty and/or retirement come upon them, many of them are caught unprepared and had to continue working despite retirement age. 3. Who are the three main characters in the book and what impact do they have on your finances? The Invisible Man- The Invisible Man represents the unaccounted expenses that we don’t usually notice because they are just small. But when they are totally accounted for, we will be surprise to learn how much they add up so quickly. The real danger about the Invisible Man is that we do not know that he is already taking toll on our resources. The Money Monster – The Money Mo nster represents our tendency to consume; our endless wants that could never be satisfied. This Money Monster is insatiable and will continue to eat our resources no matter how we much feed it. If we do not tame or put the Money on a diet, we will always be on spending binge without any savings with a mounting debt to surmount. The Precreditor- â€Å"The Precreditor has a growing appetite for our money and will influence law to keep the gravy train going. His hunger has manifested into hundreds of billions of dollars in opportunity cost for consumers