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Discover how your social background, friend groups, and cultural identity invisibly influence every financial decision you make, from credit cards to investments.

A must-read that reshapes how we think about the social underpinnings of our financial choices. In Irrational Together, economic sociologist Adam S. Hayes takes readers on a fascinating journey to uncover the often-unseen social forces that shape our financial behavior. Drawing on original research and engaging real-world examples, Hayes challenges not only the notion that economic decisions are purely rational but also the prevailing behavioral economics view that irrational choices stem primarily from individual beliefs. Instead, he argues that our economic choices and actions are deeply embedded in our social and cultural contexts and that understanding these influences is crucial to fully grasp the complexities of financial decision-making. From the impact of social class and cultural capital on risk-taking and the role of social networks and group identities in shaping consumer choices to the gendered dimensions of financial advice and literacy, this book weaves together insights from sociology, behavioral economics, and cultural studies to paint a nuanced picture of how we navigate the economic landscape as inherently social beings. Why, for example, would someone choose to continue paying 20% interest on a large credit card debt rather than taking out a low-interest mortgage on their home to pay off the card? As Hayes makes clear through rigorous analysis, cultural values—like those related to home ownership—hold as much or more sway over us than financial best practices. Bridging the gap between behavioral economics and sociology, this groundbreaking work paves the way for a more holistic understanding of the social and cultural influences on economic behavior. Hayes also looks to the future and argues that to correct major disparities in our social understanding of wealth and money, we need to construct financial systems that consider a diversity of social backgrounds. With its accessible language and thought-provoking insights, Irrational Together is an essential guide for anyone seeking to understand the intersection of money, society, and human behavior.  

Don’t leave it to the economists! - Adam Hayes, Irrational Together: The Social Forces That Invisibly Shape Our Economic Behavior, University of Chicago Press, 2025

Discover how your social background, friend groups, and cultural identity invisibly influence every financial decision you make, from credit cards to investments.

In economic sociologist Adam S. Hayes takes readers on a fascinating journey to uncover the often-unseen social forces that shape our financial behavior. Drawing on original research and engaging r...

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