The Pygmalion Effect

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2 years ago

Pygmalion is the name of a mythological character whose origins date back to Ancient Greece. According to the myth, he was a monarch who, after not finding the ideal woman to marry, chose to develop sculptures that would allow him to replace the female presence as a life companion.

The story goes that Pygmalion ended up falling in love with one of his creations, named Galatea. The goddess Aphrodite was moved by Pygmalion's desire (reflected in a dream the king had) and gave life to the sculpture, transforming Galatea into a human being.

This myth had several representations in theater and cinema. One of the most popular plays based on the story, simply titled "Pygmalion," was written by Irishman George Bernard Shaw in 1913, an author who would win the Nobel Prize for Literature years later.

In Shaw's story, which is set in London, a professor of phonetics (Henry Higgins) meets by chance a florist

(Eliza Doolitle) who has a very low level of education. Higgins bets a friend that he can turn Eliza into a lady in just six months, and thus begins a very interesting plot in which the interests of each party are revealed, who will not be able to escape the consequences of their obsessions and secrets. It is a very particular vision, which has been the inspiration for successive works in various media, such as the movie "My fair lady", starring Audrey Hepburn.

The Greek myth, on the other hand, is taken to explain a phenomenon known as the Pygmalion effect, which holds that what one subject thinks about another can influence the performance of this second individual.

The Pygmalion effect can manifest itself in different ways, for example. A teacher may have certain expectations of his students, ultimately determining the students' performance through his forecasts. The Pygmalion effect can also appear when a person succeeds in realizing his expectations based on his conviction that he is able to do so.

It is important to note that the Pygmalion effect can be negative (when expectations work against a person's self-esteem) or positive (expectations raise self-esteem).

The Pygmalion effect in the everyday environment occurs all too often and is negative for what it can be implemented in this case most of all at the level of cryptocurrencies currently in the global market we see this case as it affects the price of certain crypto due to the favoritism towards it, as well as applies to all this method due to the potential performance and power that is exerted on it.

The Pygmalion Effect is also present in economics, where it is also known by another name: self-fulfilling prophecy. ... Well, partly due to the Pygmalion Effect: if consumer confidence is high, entrepreneurs will invest more in order to meet the expected higher demand.

a more recent example of the NFT games like cryptomine and block farm due to the low liquidity people stop investing in games when they do not see potential so it happens with the games that have potential and are more solid they invest to not be able to lose from the rise because of the preference of the numbers it all depends on us.

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