Steven Pinker’s latest book “When Everyone Knows That Everyone Knows,” launching September 23, 2025, explores the influence of common knowledge in financial manias, social movements, and crypto market booms.
The book offers a cognitive framework for understanding collective action in markets, using cryptocurrencies as examples without affecting specific assets or invoking immediate market changes.
Steven Pinker, a Harvard University professor, releases “When Everyone Knows That Everyone Knows.” The book discusses common knowledge shaping group behaviors like financial manias and crypto booms. Steven Pinker, Author, Professor at Harvard University, – “Common knowledge shapes group action, fueling everything from financial manias to social media mobs.”
Pinker uses historical examples and market phenomena to illustrate his points. He specifically mentions how mutual belief can become self-fulfilling, impacting cryptocurrency trends without involving crypto founders or financial markets.
Crowd Psychology Dominates Crypto Market Discussion
No direct financial or market impact is observed from this publication. Bitcoin and Ethereum are mentioned for their roles in demonstrating crowd psychology during market peaks and troughs.
Potential outcomes in the financial sector are limited to discussions on market behavior rather than technical changes. Historical trends emphasize how shared beliefs can drive action, yet no specific market events are linked to the book’s release.
Historical Bubbles Offer Insight on Crypto Trends
Pinker references historical financial bubbles to explain crowd dynamics. Past incidents reveal a pattern in how shared presumptions can lead to similar market behaviors, informing his analysis of present crypto trends.
Experts from Kanalcoin emphasize that while the book provides valuable insights, it is not an actionable market event. The analysis highlights understanding the theory of common knowledge rather than predicting market trends. Steven Pinker, Author, Professor at Harvard University, – “My analysis does not constitute an actionable market event; rather, it aims to foster understanding of the dynamics of belief and social action.”
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