“No collective human activities or actions, such as globalisation or, for that matter, trends in popular culture such as fashions in films, books or haute couture, can be understood without recognising that it is how a group or population sees the future that shapes events. Feelings, not rational calculations, are what matter. To see what our world might be like tomorrow, next year or next decade, we need to spend time and money investigating “social mood”.
Put simply, the mood of a group – an institution, state, continent or even the world – is how that group, as a group, feels about the future.”
Why do share prices, skirt lengths, even the state of the European Union, fluctuate so wildly? It’s down to social mood, says John Casti, and we must heed its messages.